Universe Life (ID)
Premium Collections Received
NOLHGA has received the remaining premium collections made by AUL Long Term Care Solutions (formerly Duncanson & Holt) on behalf of the guaranty associations. This payment represents remaining amounts due from the period December, 1998 through February, 1999 that had been previously withheld by AUL as a result of a dispute with the Universe estate. A summary report was sent via email to affected guaranty associations on April 13. The funds will be mailed to the guaranty associations within the next two weeks.
In addition, guaranty associations are reminded to send their inception to date (as of December 31, 2000) expense and claim paid information to Paul Peterson as soon as possible. These reports will be utilized to update the claims with the Universe receiver.
Task Force Chair - Tad Rhodes; Staff Contact - Paul Peterson National Heritage Life (DE)Ninth Trust Distribution
NOLHGA is scheduled to mail checks on Monday to the NHL participating guaranty associations which did not directly received their share of the $12.5 million NHL Trust distribution made on April 1st. An aggregate of $218,941,088 in trust disbursements and early access distributions has been paid to the guaranty associations to date. Of the original $418,878,761 in GA claims against the NHL estate, $199,937,673 remains unpaid.
Task Force Chair - Dan Orth; Staff Contact -GA Expense and Claims Reports Due
During the week of April 8, various requests were sent to guaranty associations requesting updates to their expense and claim information on a number of insolvencies. Information should be sent to Paul Peterson at NOLHGA for the following cases:
American Life Assurance Corporation
First National Life Insurance Co. (note this company is NOT part of the Thunor Trust group)
Bankers Commercial Life Insurance Company
Universe Life Insurance Company
National Affiliated Investors Life Insurance Company
Prompt responses will be appreciated as the reports will be utilized in updating the guaranty association claims in all estates.
Staff Contact - Paul PetersonSoutheastern Regional GA Meeting
Members of the Southeastern Regional Guaranty Associations met in Williamsburg, VA on April 5. Topics discussed included: web site development; travel policies; issues in closing an insolvency; administrative services contracts; handling of routine administrative expenses; succession planning; use of accounting guidelines manual; various accounting software in use; MPC meetings; Administrators Education Committee topics; legislative issues regarding GA law changes; and review of new insolvency financial reports posted to NOLHGA's website. Representatives of the following states were in attendance: Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia, West Virginia.
Staff Contact - Paul PetersonNOLHGA MPC Meeting Hotel Deadline
NOLHGA MPC Meeting Hotel Deadline
The deadline for making hotel reservations for the May 9-11 MPC Meeting in Providence is Monday. Please call the Providence Marriott directly to assure the NOLHGA rate of $159.
Staff Contact - Sean McKenna