MPC Meets in Boston
The Members' Participation Council (MPC) met in Boston on July 24 and 25, 2012. Task force meetings were held for Executive Life Insurance Company of New York, Medical Savings Insurance Company (Indiana), and Universal Life/Booker T. Washington Insurance Companies (Alabama). The Lincoln Memorial/Memorial Service Life Insurance Companies (Texas) Task Force held a Litigation Update, and the MPC Executive Committee met as well. The Coverage/Claims Committee held a presentation on contingent deferred annuities (CDAs) conducted by representatives from Prudential Insurance Company of America.
In addition to the task force report below, the General Session featured a presentation on the activities of the Security Advisory Committee conducted by Co-Chair Candie Kinch (Idaho and Oregon), and the Executive Life Insurance Company (California) and Penn Treaty Network America/American Network Insurance Companies (Pennsylvania) Task Forces both conducted closed-session presentations. The General Session also featured a briefing on MPC Executive Committee activity by MPC Chair Mike Marchman.
The following task force insolvency report was presented during the MPC General Session:
Staff Contact - Sean McKenna Lincoln Memorial/Memorial Service Life Insurance Companies (Texas)Task Force Chair Tad Rhodes (Oklahoma) reviewed the status of claims funding and premiums collected to date. He also presented an updated task force budget and reported that the task force is considering issuing an RFP for the remaining business in 2013.
Task Force Chair - Tad Rhodes; Staff Contact - Paul Peterson