14. Contingencies Insurance companies and their affiliated broker-dealers have been the subject of increasing regulatory, legislative and judicial scrutiny. The SEC, the Financial Industry Regulatory Authority, commonly referred to as FINRA, state insurance and securities regulators, state attorneys general and various other governmental and quasi-governmental authorities and several state authorities have commenced examinations and other inquiries of insurance companies and their affiliated broker-dealers on behalf of themselves or clients regarding sales and marketing practices (including sales to older consumers and disclosure practices), product features, compensation arrangements, risk management practices and abandoned property and escheatment practices. The Company has cooperated and will continue to cooperate with applicable regulators regarding any such inquiries. The Company is involved in the normal course of business in a number of other legal and arbitration proceedings concerning matters arising in connection with the conduct of its business activities. The Company believes that it is not a party to, nor are any of its properties the subject of, any pending legal, arbitration or regulatory proceeding that is likely to have a material adverse effect on its consolidated financial condition, results of operations or liquidity. Notwithstanding the forgoing, it is possible that the outcome of any current or future legal, arbitration or regulatory proceeding could have a material impact on results of operations in any particular reporting period as the proceedings are resolved. Uncertain economic conditions, heightened and sustained volatility in the financial markets and significant financial reform legislation may increase the likelihood that clients and other persons or regulators may present or threaten legal claims or that regulators increase the scope or frequency of examinations of the Company or the insurance industry generally.