Lincoln Memorial
Please see the attached Excel file labeled “Lincoln Memorial/Memorial Service”. These two companies wrote preneed funeral insurance. The current plan calls for the guaranty associations to run-off the business and fund death benefits as claims are incurred. The attached file reflects the face amounts for the business – this would be the MAXIMUM exposure for costs to the guaranty associations (excluding any ongoing expenses). The file also reflects an estimate of reserves as of June 2010 along with claims paid, expenses, and premiums received. This would represent the LOW END of the cost range. Companies may wish to consider use of the low end estimate for GAAP purposes or the mid-point of the range for statutory financials when calculating their accruals for guaranty association assessment purposes.
Executive Life of New York (ELNY)
Please see the attached memo labeled “Information re ELNY” which contains general information regarding the costs for this case. Note that the cost estimates discussed in this memo are NOT included in the attached data files or report.