Best Practices
Lorman: “New Hurdles for Employers Who Obtain New Corporate Owned Life Insurance,” 2006-10-30
The Pension Protection Act of 2006 includes new rules applicable to employers who obtain life insurance policies, also known as corporate owned life insurance (COLI) on the lives of one or more of its employees. Under the new rules, the following requirements must be satisfied if the employer desires to exclude the policy proceeds from …
Comptroller of the Currency, Administrator of National Banks, “Insurance Activities: Comptroller’s Handbook” 2002-06-01
This “Insurance Activities” handbook booklet provides information for bankers and national bank examiners on the risks, controls and supervision of national banks’ insurance activities by the OCC. This booklet provides examiners guidance on performing appropriate assessments of risks to national banks from insurance activities, including a process that may be used in planning and conducting …