Deford to Speak at Annual Meeting
Famed sportswriter Frank Deford has agreed to speak at NOLHGA's 22nd Annual Meeting, which will be held October 25 and 26, 2005, at the Westin Resort, Hilton Head Island in Hilton Head, S.C. He is scheduled to give the luncheon address on October 25.
Deford is the senior writer at Sports Illustrated and is also the author of 14 books. His latest book, The Old Ball Game: How John McGraw, Christy Mathewson, and the New York Giants Created Modern Baseball, was published earlier this year. He serves as a commentator every Wednesday on Morning Edition on National Public Radio and is also a regular correspondent on the HBO show Real Sports with Bryant Gumbel.
Deford has been elected to the Hall of Fame of the National Association of Sportscasters and Sportswriters and has been voted U.S. Sportswriter of The Year six times. The Sporting News has described him as "the most influential sports voice among members of the print media," and the magazine GQ has called him "the world's greatest sportswriter." For his broadcasting efforts, Deford has won both an Emmy and a George Foster Peabody Award.
More news about NOLHGA's 22nd Annual Meeting will appear in future issues of the NOLHGA Wire and other NOLHGA publications.
Staff Contact - Sean McKenna London Pacific Life & Annuity Company (N.C.)Distributions Sent to Guaranty Associations
Distribution payments were made via check and wire transfer from NOLHGA to affected guaranty associations the week of April 24, 2005. These payments represent the final accounting adjustments on the deferred annuity exchange agreement among Hartford Life, guaranty associations, and London Pacific, along with interest earned on the escrow accounts held on behalf of the guaranty associations. We anticipate sending final Exhibit D schedules to guaranty associations within the next two weeks.
Associations should contact Gus Estrada ([email protected] or 703.787.4131) if they do not receive their payment in the near future.
Finally, the cut-off date for the batch 12 reports (the period from April 19, 2005, to May 1, 2005) from Philadelphia American on funding surrenders, deaths, etc., for contracts being administered by the guaranty associations falls on Sunday, May 1. As a result, the reports will be produced on Monday, May 2, and sent to guaranty associations on May 3.
Task Force Chair - Frank Gartland; Staff Contact - Paul Peterson States General Life Insurance Company (Tex.)States General Office to Close
The special deputy receiver for States General Life Insurance Company will be vacating and closing the States General home office by the end of April 2005. NOLHGA has contracted with Administrative Insurance Management Services, Inc. (AIMS), to take over processing and administration of the home office business. To facilitate a smooth transition and to ensure uninterrupted customer service for policyholders and service providers, AIMS has arranged to have the customer service number for States General's home office transferred so that it will ring directly to their offices. That number is 800.782.8375.
In addition, the States General Web site remains available to online users but has been updated to inform users of the March 9, 2005, receivership order and to redirect users to Web sites for the special deputy receiver, NOLHGA, and the Texas Department of Insurance. The 800 number for customer service is also posted on the site.
Task Force Chair - Tad Rhodes; Staff Contact - Joni ForsytheTechnology Workshop Registration Now Open
Registration for the two technology workshops that will be offered at the May MPC meeting in Austin, Tex., is now open. The workshops, which are being coordinated by the Administrators' Education Steering Committee, will be held on Tuesday, May 17, from 8:30 a.m. to 11:00 a.m. (a continental breakfast will be served at 8:30, and the workshop will begin at 9:00) and from 3:00 p.m. to 5:00 p.m. The morning session runs concurrently with a meeting of the MPC Guidelines Working Group, but there are no meetings scheduled opposite the afternoon session.
The workshops will be led by Kenny Bullock, NOLHGA's manager of technology systems, and Dan Hicks, NOLHGA's manager of information systems. Topics will include computer security (firewalls, viruses, and spyware), the importance of keeping backups of your office's data, computer crashes and recovery software, basic troubleshooting, a discussion of operating systems, and Internet browsing (pop-up ads, cookies, online security, etc.).
All registered and confirmed attendees will receive a CD with computer tips, how-to articles, free demonstration software, technical support information, and other materials. To register for the workshop, please contact Holly Wilding at [email protected] and specify which session you plan to attend.
Staff Contact -Federal Reform Efforts to Be Examined at Legal Seminar
Professor Catherine England, chair of the Accounting, Economics, and Finance Department at Marymount University's School of Business Administration; and Wayne Abernathy, executive director for financial institutions policy and regulatory affairs at the American Bankers Association (ABA); will address the latest policy considerations surrounding a federal role in insurance regulation at NOLHGA's 13th Annual Legal Seminar in August.
Abernathy is well-respected in Washington for his knowledge of policy issues affecting financial institutions. Prior to accepting his position at the ABA this year, he served as assistant secretary of the Treasury and was also the Senate Banking Committee's staff director. At Marymount, Dr. England teaches graduate and undergraduate courses in finance and economics. She has received widespread attention for her recent paper, Federal Insurance Chartering: The Devil's in the Details, published by the Competitive Enterprise Institute.
NOLHGA's 13th Annual Legal Seminar will be held August 18-19, 2005, at the Stein Eriksen Lodge in Park City, Utah. Please call Aimee Frye at 703.787.4115 or e-mail Meg Melusen at [email protected] for additional information about the seminar.
Staff Contact -NAIC Completes Draft of New Receivership Model.
On April 25, 2005, the NAIC's Model Act Revisions Working Group completed drafting of a new NAIC Receivership Model and voted unanimously to approve the draft and recommend same for consideration and approval by the NAIC's Receivership and Insolvency Task Force. The draft has been circulated to task force members, and the task force is expected to consider the proposed model during a conference call to be scheduled for a date in mid-May. If approved by the task force, the proposed model is expected to be presented by the task force to E-Committee in conjunction with the June NAIC meeting. No final action by NAIC plenary is expected before September.
Given the comprehensive nature of the changes made to this model and the fact that the NAIC has stated its intent to make adoption of the new receivership model an accreditation standard for the states, interested parties are urged to review the revised draft and provide any input or comments they may have. A copy of the revised draft model as adopted by the Working Group on April 25 is available on the NAIC Web site in the Receivership and Insolvency Task Force section, which includes instructions for submitting comments to the NAIC. You may also request a copy of the draft by contacting Aimee Frye at NOLHGA ([email protected] or 703.787.4115).
Staff Contact - Joni ForsytheNew GA Contact Info
Dan Orth, executive director of the Illinois Life & Health Insurance Guaranty Association, has a new e-mail address. He can now be reached at [email protected].
Staff Contact - De Gadd