American Bankers Insurance Association 2003 Annual Conference Program Thursday, October 9, 2003 Trac

1
American Bankers Insurance Association 2003
Annual Conference ProgramThursday, October 9,
2003 Track 6 Special Issues
How Banks Can Share In Underwriting Experience On
The Insurance Business They Produce

• Roundtable discussion leaders
•  
• Greg Petrowski, CPA Bruce Bradley, CPCU
  Charlie Wanner, ASA Jennie Pulcini
• GPW and Associates, Inc. Huntington
  Insurance Services GPW and Associates, Inc.
  Standard Insurance Services
• 2700 N. 3rd Street, Suite 2000 7575
  Huntington Park Drive 2700 N. 3rd
  Street, Suite 2000 2167 15 Mile Road Ste 101
• Phoenix, AZ 85004 Columbus, OH 43235
  Phoenix, AZ 85004 Sterling Heights, MI
  48310
• [phone] (614)
  480-6823 [phone] (248)
  816-4816

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CURRENT METHODS OF UNDERWRITING PARTICIPATION BY
BANKS

• Commission
• Experience or Retro Arrangement
• Assuming Risk

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BANK INSURANCE RELATED PRODUCTS

• Credit Life/Disability and Mortgage Insurance  
• Debt Cancellation 
• Annuities
• Traditional Life Insurance Products
• Private Mortgage Insurance
• Force Placed Hazard Insurance
• Title Insurance
• Auto/Homeowners Insurance

4
CREDIT LIFE/DISABILITY AND MORTGAGE INSURANCE

• Current Participation

• Commission
• Experience or Retro Arrangement
• Assuming Risk

5
CREDIT LIFE/DISABILITY AND MORTGAGE INSURANCE

• Regulatory Issues

• State Insurance Departments
• Rates
• Regulated
• Non Regulated

6
CREDIT LIFE/DISABILITY AND MORTGAGE INSURANCE

• Sales Issues

• Perceived Value
• Education
• Point of Sale

7
DEBT CANCELLATION

• Current Participation

• Commission or Fee (Third Party Program)
• Assuming Risk (Direct or through CLIP)

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DEBT CANCELLATION

• Regulatory Issues

• OCC
• Other

9
DEBT CANCELLATION

• Sales Issues

• Perceived Value
• Point of Sale
• More Flexibility in Program Design (Benefits and
  Fees/Perceived Value)

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ANNUITIES

• Current Participation

• Commission
• Experience or Retro Arrangement
• Assuming Risk
• Accounting Issues with Revenue Recognition

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ANNUITIES

• Regulatory Issues

• State Insurance Departments (Fixed Annuities)
• SEC and NASD (Variable Annuities)

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ANNUITIES

• Sales Issues

• Licensed Agents
• Wealth Management

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TRADITIONAL LIFE INSURANCE PRODUCTS

• Current Participation

• Commission
• Experience or Retro Arrangement
• Assuming Risk

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TRADITIONAL LIFE INSURANCE PRODUCTS

• Regulatory Issues

• State Insurance Departments
• Licensing

15
TRADITIONAL LIFE INSURANCE PRODUCTS

• Sales Issues

• Licensed Agents
• Wealth Management

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PRIVATE MORTGAGE INSURANCE

• Current Participation

• Assuming Risk

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PRIVATE MORTGAGE INSURANCE

• Regulatory Issues

• State Insurance Departments
• Freddie Mac
• RESPA

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PRIVATE MORTGAGE INSURANCE

• Sales Issues

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FORCE PLACED HAZARD INSURANCE

• Current Participation (VSI/LSI/CPI and Mortgage)

• Commission (Blanket)
• Experience or Retro Arrangement
• Assuming Risk

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FORCE PLACED HAZARD INSURANCE

• Regulatory Issues

• State Insurance Departments

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FORCE PLACED HAZARD INSURANCE

• Sales Issues

• Mortgage Banking
• Refunds

22
TITLE INSURANCE

• Current Participation

• Commission
• Assuming Risk

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TITLE INSURANCE

• Regulatory Issues

• State Insurance Departments
• RESPA

24
TITLE INSURANCE

• Sales Issues

• Mortgage Banking
• Title Insurance Agency

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AUTO/HOMEOWNERS INSURANCE

• Current Participation  

• Commission

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AUTO/HOMEOWNERS INSURANCE

• Regulatory Issues

• State Insurance Departments

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AUTO/HOMEOWNERS INSURANCE

• Sales Issues

• Licensed Agents
• Direct Mail