MPC Meets in Indianapolis
The Members’ Participation Council (MPC) conducted a hybrid in-person/online meeting on April 25–26, 2022, in Indianapolis. In addition to the task force report below, closed-session presentations (affected guaranty associations only) were conducted by the task forces for Global Bankers Insurance Group (North Carolina and Michigan), Penn Treaty Network America/American Network Insurance Companies (Pennsylvania), Senior Health Insurance Company of Pennsylvania (SHIP), and Time Insurance Company (Wisconsin).
The General Session also featured comments from NOLHGA Chair Kermitt Brooks on NOLHGA’s first hybrid meeting and the organization's continuing emphasis on education, in particular the education workshop held on April 25 (see below) and July’s Legal Seminar; a Management Report by NOLHGA President Peter Gallanis and NOLHGA Executive Vice President and Chief Operating Officer Mike Heard; and a presentation on cybersecurity procedures by Security Advisory Committee Co-Chair Candie Kinch (Idaho, Oregon, and Wyoming). MPC Chair Margaret Sperry (Rhode Island) briefed attendees on MPC Executive Committee activity, which included updates from the Asset Recovery, Small Block Options, and Business Continuity Subgroups and comments and suggestions received by committee members through the committee’s GA Outreach Program. Mr. Heard also noted the retirements of Peggy Parker (Virginia), Linda Becker (Kansas), and Tom Peterson (Kentucky) and the impending retirement of Ernie Wright (Connecticut) and welcomed Dennis Herchel (Virginia) and Jana Lee Pruitt (Kentucky) to the guaranty community.
The MPC meeting also featured a meeting of the MPC Executive Committee, an update on GABC/ELNY (by ELNY Task Force Chair John Colpean (Michigan) and Task Force Legal Counsel Kevin Griffith (Faegre Drinker Biddle & Reath)), and closed-session meetings (affected guaranty associations only) of the Time Insurance Company (Wisconsin) and Penn Treaty Network America/American Network Insurance Companies (Pennsylvania) Task Forces.
In addition, the MPC meeting included an educational program entitled Insolvency Fundamentals 101, which was meant to provide a foundation of insolvency knowledge that will be used in the insolvency workshop that will be held at the July Legal Seminar. Opening and closing remarks were provided by Amanda Barbera (Indiana), Chair of the Legal Seminar Planning Committee, and Janis Potter (Illinois), Chair of the Administrators Education Steering Committee. The program consisted of three sessions: (1) Fundamental Receivership Issues, featuring moderator Tamara Kopp (Missouri) and panelists Pamela Olsen (Minnesota and Nebraska), Roy Eft (Indiana Department of Insurance), Lynda Loomis (GABC), and Douglas Schmidt (Husch Blackwell LLP); (2) GA Responses to Receiverships: Responsibilities, Tools & Practices, featuring moderator Bart Boles (Texas) and panelists Todd Thakar (California and Nevada), Joni Forsythe (NOLHGA), and Cindy Oliver (Lewis Roca Rothgerber Christie LLP); and (3) Special Issues for GAs in Receiverships, featuring moderator John Colpean (Michigan) and panelists Bill O’Sullivan (NOLHGA), Bill Fisher (Massachusetts), Kevin Griffith (Faegre Drinker), and Tad Rhodes (Colorado and Oklahoma). The program was very well received and, as noted above, will be continued at the July Legal Seminar in Washington, D.C.
Staff Contact - Sean McKenna Senior American Insurance Company (Pennsylvania)SAIC Task Force Chair Bart Boles (Texas) reported on the assignments and amendments to the service agreements the SAIC Task Force and Life & Health Insurance Company of America (Pennsylvania) Task Force (chaired by Beth Hoffman (District of Columbia and Maryland)) had with Disability Insurance Specialists, LLC, a third-party administrator. These amendments, which were necessitated by the purchase of Disability Insurance Specialists by the Davies Management Group, were approved by the MPCs for each company at a special joint MPC meeting held on April 18, 2022.
Task Force Chair - Bart Boles; Staff Contact - Joni ForsytheConnecticut GA Seeks New Executive Director
The Connecticut Life & Health Insurance Guaranty Association is seeking a well-qualified candidate to perform services as its Executive Director. The association is a nonprofit insurance industry–supported organization that handles and funds, pursuant to Connecticut law, insurance claims of Connecticut residents if their life, health, annuity, or long-term care insurer becomes insolvent.
The Executive Director is an independent contractor position reporting directly to the Board of Directors. The Executive Director is responsible for carrying out the duties of the association and maintaining adequate professional support during times of varying work activity levels. Ability to travel and effectively coordinate activities with other state guaranty associations through a national organization, with insurance receivers, and regulators is essential.
The hire date is anticipated to be on or before June 30, 2022, with a reasonable transition period.
As an independent consultant, candidates are solely responsible for their own health insurance, retirement plan benefits, and other forms of insurance.
Candidate requirements:
- Significant experience in the life and/or health insurance industry or a related setting, such as regulatory, legal, or consulting
- A background in insurance, law, finance, and/or actuarial science is desirable
- Prior experience with an insurance guaranty association or in a receivership setting is a plus
- Ability to work with other state guaranty associations, the National Organization of Life & Health Insurance Guaranty Associations (NOLHGA), and regulators
- Capable of managing day-to-day operations as an independent contractor
- Ability to administer operations in accordance with policies and procedures adopted by the association
- Ability and willingness to participate at the national level: NOLHGA, NAIC, IAIR, etc.