WASHINGTON - (Business Wire) Michael Fasano, President of Fasano Associates, proposed Best Practices standards for Life Expectancy Underwriters to more than 300 industry participants attending Fasano
’s Fifth Annual Life Settlement Conference. Fasano called on life expectancy underwriters to retain qualified, independent actuarial firms to conduct regular analyses of Actual to Expected accuracy in a standardized format that would allow meaningful comparisons to other life expectancy underwriters.
Said Fasano: “We need more transparency in our industry if we expect to attract investment capital. Life expectancy underwriters have taken a lot of criticism recently – some legitimate and some not. But for our industry to move forward, we have to put our performance out there for review. Investors simply will not tolerate a secretive attitude any longer.”
A life settlement is the sale in the secondary market of a life insurance policy that no longer meets the needs of the policy owner. Life settlements bring together the capital and insurance markets to provide owners of life insurance competitive market values for their policies.
Additional presentations were made by Neil Weidner, Partner of Cadwalader, Wickersham & Taft, Alan Buerger, CEO of Coventry and Dr. John Iacovino, Medical Director of Fasano Associates. Michael Barone, Senior Writer at U.S. News & World Report and Fox Political Analyst, ended the Conference with his views on the impact of the recent elections.
About Fasano Associates:
Fasano Associates is a leading underwriting consulting firm serving the life, health and life settlement industries.
Fasano Associates, Washington
Michael Fasano, President, 202-457-8188
mfasano@fasanoassociates.com
www.fasanoassociates.com
