ALIA

(redirected from Affordable Life Insurance Alliance)
AcronymDefinition
ALIAAustralian Library and Information Association
ALIAAlberta Lawyers Insurance Association (Calgary, Alberta, Canada)
ALIAAffordable Life Insurance Alliance (various locations)
ALIAAssociate of the Life Assurance Association (UK professional qualification)
ALIAAustralasian Lighting Industry Association, Inc. (Australia)
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References in periodicals archive ?
Scott Harrison, the executive director of an unrelated insurance industry group, the Affordable Life Insurance Alliance (ALIA), said one of his favorite aspects of the new U.S.
The new, so-called "principles-based reserving system" marks the most significant change in regulating life insurers since before World War II, according to Scott Harrison, executive director of the Affordable Life Insurance Alliance.
Other proponents of PBR including Donna Claire, who is heading up the Academy's PBR efforts and Scott Harrison, executive director of the Affordable Life Insurance Alliance, Washington, said the difficulties in the credit market point to the need to get principles-based reserving done so that such issues will not become problems for life insurers.
"What we're seeing now is the natural evolution of this," said Scott Harrison, executive director of the Affordable Life Insurance Alliance. "What we're seeing with principles-based reserving is consumer-driven in the sense that the companies that are writing these products are responding to consumer demand....
The Affordable Life Insurance Alliance promoted the shift mainly by helping regulators, lawmakers and other policy shapers understand what principles-based reserving is and how the shift might work, by issuing reports, submitting comment letters, organizing conferences, and speaking at other organizations' meetings.
The Affordable Life Insurance Alliance (ALIA), established in 2005 to promote and modernize life insurance reserves through a principles-based reserving approach, stated it strongly supports the use of captives by life insurers.
Both the ACLI and the Affordable Life Insurance Alliance, Washington, raised concern about proposed broad language using the word 'company' rather than the term 'life insurer' citing concern that it would raise objections from non-life companies and slow down the project.
After formation of the Affordable Life Insurance Alliance, compromises by members of the industry, and some diligent work by regulators, the product will likely survive, but more regulatory work on the issue remains to be done this year.
While time is needed to properly develop the SVL and Valuation Manual, a June time-frame is still possible, said Scott Harrison, executive director of the Affordable Life Insurance Alliance, Washington.
During a teleconference on tax issues surrounding principles-based reserving sponsored by the Affordable Life Insurance Alliance, Washington, Allen Booth, a life actuary with the Internal Revenue Service, Brookfield, Wis., said the conversation he heard on the call sounded like "word-smithing," and that "there are extreme differences of where we are and where we need to be."
A webcast sponsored by the Affordable Life Insurance Alliance, Washington, featured Larry Bruning, chief actuary with the Kansas insurance department, who offered insight into how an RVO could work.
It was good to hear regulators say there is still a lot of work to do before the project is complete, said Scott Harrison, executive director of Affordable Life Insurance Alliance, Washington.
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