Articles

CEFLI Committees “Connect”

One of CEFLI's primary organizational missions is to "connect" the life insurance industry's compliance and ethics professionals. CEFLI achieves this objective in a variety of different ways through various Committees and Issue Forums to provide opportunities for member company representatives to gain insights and strategies from fellow compliance and ethics professionals and regulatory representatives with the goal of improving overall marketplace practices.

CEFLI convenes various Committees and Issue Forums to address a range of issues.

ERM/ORSA Summit Meeting

CEFLI continues to demonstrate its important non-advocacy leadership in bringing regulators and company representatives together to engage in collaborative discussions to review contemporary marketplace issues.

CEFLI's recent ERM/ORSA Summit Meeting held in Chicago on May 16 included presentations by members of the NAIC ORSA Subgroup, various industry experts and company representatives that provided an appropriate Forum to allow all participants to engage in a substantive discussion of current

Are Companies Prepared for RMORSA?

Industry information is showing that insurance companies may still have ground to cover in order to be compliant with the NAIC Risk Management and Own Risk Solvency Assessment Model Act.

Enterprise Risk Management is no longer a new concept for life insurance companies. For many companies, especially those with a greater level of resources, it was something that was discussed, strategized and implemented several years ago. It was something that was not necessarily mandated by regulation, but targeted as a

Key Members of NAIC ORSA Subgroup Comprise Panel at Upcoming CEFLI Summit Meeting.

Hear candid regulatory insights and what companies should be focusing on.

CEFLI's ERM/ORSA Summit Meeting on May 16 in Chicago will include a panel of representatives from the NAIC's ORSA Subgroup to provide updated information on their work as well as the impending regulatory requirements. Attendees will have an opportunity to hear comments directly from members of the NAIC ORSA Subgroup concerning the upcoming ORSA Pilot Project as well as examination requirements to determine compliance with the requirements of the NAIC Risk Management and Own Risk and Solvency Assessment...

CEFLI's ERM/ORSA Summit Meeting

On September 12, 2012 the NAIC Executive Committee adopted the Risk Management and Own Risk and Solvency Assessment (ORSA) Model Act. This new Model Act provides a requirement for selected insurers/insurance groups to maintain a risk management framework; regularly perform an own risk and solvency assessment (ORSA); and, annually file a Summary Report to the commissioner upon request.

Are you prepared? Does your company have the necessary steps in place to identify, organize, assess and manage your necessary risk and control data for enterprise risk management (ERM)...

Cornell Law School Launches Whistleblower Class

Cornell Law School Launches Whistleblower Class

March is Ethics Awareness Month and, therefore, we noticed with interest that it was recently announced that Cornell Law School has launched a new class on "Whistleblowers and Business Integrity" as a means to guide future lawyers with respect to the role that whistleblowers can play in promoting business integrity for all organizations.

The announcement of the new class indicated that many negative stereotypes exist with respect to whistleblowers. Terms such as "snitch" and "weasel" were cited in an article in the campus newspaper The Cornell Daily Sun announcing the new class.

Stuart Schwab, Dean of Cornell Law School, indicated that they will use the

What’s Ahead for 2013?

CEFLI is looking forward to another exciting year in compliance and ethics!

We have a full slate of events designed to address a wide range of contemporary marketplace challenges.

You are encouraged to review CEFLI's 2013 Calendar of Events for more information. CEFLI's Compliance & Ethics Committee opened the year with a robust meeting on January 9 to discuss several issues for consideration by representatives of our member companies.

Unclaimed Property - The Challenges Continue

Unclaimed Property - The Challenges Continue

Over the past several months, unclaimed property issues have continue to consume compliance resources within the life insurance industry. Through member company representatives on CEFLI's Compliance & Ethics Committee and our Affiliate Member organizations, CEFLI has received feedback on the continuing evolution of compliance challenges pertaining to unclaimed property matters.

CEFLI's Advisory Committee Offers Key Insights

CEFLI's Advisory Committee Offers Key Insights

CEFLI maintains an Advisory Committee that meets periodically to discuss current issues of concern to state and federal regulators, producers and consumer interest groups. Representatives from the SEC, FINRA, the NAIC, NAIFA and AARP along with representatives of CEFLI's Affiliate Member organizations serve on CEFLI's Advisory Committee. The insights offered through the Advisory Committee allow CEFLI member companies to identify potential issues that may be "on the horizon" as areas of possible regulatory review.

Copies of agendas and minutes for all meetings of the CEFLI Advisory Committee are available via

Unclaimed Property II – There is still so much more to discuss!

Draws over 60 companies and several key state regulators.

On November 13, 2012, CEFLI presented its second Summit Meeting this year on Unclaimed Property in Chicago. The first one in New York in May generated such a buzz that the participants provided feedback to CEFLI that another meeting with additional candid discussions with company professionals, industry experts and key state insurance regulators was needed. The theme of UPSM II was to take a deeper dive and be comprehensive...