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They will not be obliged to disclose how much of the gap between high payouts and low investment returns has been, or could be, made up without penalising policyholders for example, by cutting costs or updating assumed mortality rates.For policyholders, there is surely worse to come.
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And next time, if some other insurance company fails to be completely forthcoming when getting approval for a transaction that turns out to be disastrous for some other group of policyholders, there will be a precedent saying such conduct is just fine.
Conversely, the reciprocal exchange is neither owned by policyholders nor anyone else, since there is no legal entity to own.
So there is no reason for policyholders to be anything but wary until their own big check clears.
"When nearly 30percentt of all fires are arson or suspected arson in this state, there is a hit to policyholders' wallets".
Unfortunately, however, there is often not much a policyholder can do about it.
There is the crushing fact that most policyholders and their immediate families died at the hands of the Nazis.
"There is a tiny percentage of disgruntled policyholders filing complaints," said Frank A. Keating, president of the American Council of Life Insurers, an industry trade group.
There is every indication that legions of policyholders -- especially in the Gulf States -- are unaware of the ACC loophole.
In addition, there is uncertainty about whether the non-GAR policyholders would be able to pass the cost of the mis-selling on to the GAR policyholders or whether they would, in effect, mainly be suing themselves.The aim of the deal is to strike a fair compromise between both groups, primarily by crystallising and reducing the potential liability of the guaranteed annuity rates.
What policyholders don't want, however, is to find out too late there is a gap in cover.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com