Centennial Life (KS)
Pair of Audits Completed
Claims System Auditors completed two audits of Centennial Health Block "Company 21" claims. ("Company 21" includes Aegon Health Block policies formerly administered by TPAs.)
The first audit included Centennial Health Block Company 21 batches 8-11. The second audit included Centennial Health Block Company 21 batches 12 - 15.
The dollar weighted financial accuracy rate for these audits was 99.2 percent. Of the 201 claims examined, only 16 had errors of any kind.
Claims System Auditors will be returning to Centennial the week of May 3 to do the fieldwork for the next audit.
Separately, the Receiver reported that as of April 26 the Centennial Health Block claims inventory had been reduced to 18,600, a reduction of 10,000 since the end of the first quarter.
Task Force Chair - Mark Femal; Staff Contact - Universe Life (ID)Proof of Claim Filed
On April 29, the ULIC Task Force filed an Omnibus Proof of Claim with the estate on behalf of all affected guaranty associations. The bar date to file a Proof of Claim is May 1. The Task Force reserved its right to update the proof of claim from time to time as financial information changes and guaranty association costs become better known.
Those wishing to receive a copy of the Proof of Claim should contact Dana Woodward at 703.787.4118.
Task Force Chair - Andrea Bowers; Staff Contact - Bill O'Sullivan Executive Life (CA)Unisys Seeks Settlement with Two GAs
Executive Life participating guaranty associations Alabama and New Mexico recently received letters from counsel for Unisys seeking settlement of its claims. These states had previously signed tolling agreements with Unisys, and Unisys references the agreements in its letters. Other Executive Life PGAs that signed tolling agreements with Unisys may also be contacted. PGAs that receive such a letter are asked to immediately contact Angela Franklin at NOLHGA.
Task Force Chair - Art Dummer; Staff Contact -Year 2000 Insolvency Contingency Plan Committee
Continuing the Committee's ongoing update of activities, please note the following:
The Committee is beginning to compile a list of questions GA administrators have received from the public and/or the media regarding guaranty system Y2K preparedness. If you have received inquiries, please provide them to Pete Marigliano at NOLHGA at 703.787.4106.
Committee Chair - Jack Falkenbach; Staff Contact - Joni ForsytheNOLHGA Institutional Memory Project
An invitation has been extended to all administrators to come see live demonstrations of NOLHGA's institutional memory system. We are planning to schedule time on both May 18 and 19th, prior to the MPC meeting. In the future, administrators will have access to the system via NOLHGANet. If you are interested in attending one of the demonstrations, please contact Beth Watson at 703.787.4112 or e-mail her at [email protected]. We are excited about the system and look forward to sharing it with you.
ETC.
Ernie Long Retiring
California GA administrator Ernie Long retired today. Beginning May 3, Peter Leonard will assume Long's duties. We all look forward to extending our best wishes to Long at the May MPC meeting, which he will be attending.
CALENDAR/CONFERENCE CALLS
May 4 Kentucky Central Asset Management Committee, Frankfurt, KY
May 11 Legal Committee, Wyndham Garden Hotel (O'Hare Airport), Chicago, IL, 10am
May 19 InterAmerican Task Force Conference Call, Noon, ET
May 19-21 Members' Participation Council Meeting, The Westin, Washington, DC