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March Madness: The DOL 95-1 Insurer Financial Strength Tourney Challenge
Pi [Pension Indemnification] Apr. 1, 2013 "[This article] consider[s] the financial strength of several life insurers and see which one advances to be crowned the [Department of Labor Interpretative Bulletin 95-1] champion.... DOL 95-1 outlines six core criteria items which fiduciaries should be considerate of when evaluating insurers: [1] Quality & diversification of annuity provider's investment portfolio; [2] Size of insurer relative to size of proposed contract; [3] Level of insurer's capital & surplus; [4] Lines of business of the annuity provider and other indications of an insurer's exposure to liability; [5] Structure of the annuity contract and guarantees supporting the annuities, including use of separate accounts; [6] Availability of additional protection through state guaranty associations and the extent of their guarantees." |
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