Legal Seminar Agenda Finalized
The Legal Seminar Planning Committee has completed the agenda for NOLHGA’s 11th Annual Legal Seminar. The seminar will feature panels on the FDIC, optional federal charters, special purpose vehicles, risk, reinsurance, and much more. As in the past, the program will also include one hour of ethics, and all panels are in the process of being approved for CLE credit. The seminar will take place August 15 and 16, 2002, at the Drake Hotel in Chicago and will be held in conjunction with the MPC meeting scheduled for August 13 and 14.
The Drake Hotel, one of Chicago's landmarks, is in the heart of the Gold Coast and on the Magnificent Mile, providing meeting attendees with easy access to many of Chicago's dining, shopping, and cultural attractions. The room rate for those attending either NOLHGA meeting is $181 per night and will be honored on both the weekend before and the weekend following the NOLHGA meetings. Brochures will be mailed in mid-June with specific details regarding the Legal Seminar program, panelists, and registration requirements. If you have any questions, please contact Meg Melusen at 703.787.4130 or [email protected].
Staff Contact - First National Life Insurance Company (Ala.)Fund Transfers Completed
Wire transfers and checks totaling $2.4 million were disbursed during the week of May 13 by NOLHGA to all affected guaranty associations. The estate distribution represents a 100 percent recovery of guaranty association policy-level claims and a 79 percent recovery of the related administrative expense claims. Guaranty associations should contact Gus Estrada at 703.787.4131 or [email protected] if they have not yet received their funds.
Task Force Chair - Mike Marchman; Staff Contact - Joni Forsythe National American Life Insurance Co. of Pennsylvania (Pa.)Early Access Distribution Received
NOLHGA has received an $8.6 million early access distribution from the NALICO liquidator. The distribution represents $1.1 million for guaranty association administrative expenses and $7.5 million for policy-level claims. NOLHGA anticipates that the funds will be disbursed to the guaranty associations within the next week.
Task Force Chair - Tad Rhodes; Staff Contact - Paul Peterson