Annual Meeting Embraces Internet Technology

Online registration for NOLHGA's 18th Annual Meeting Oct. 16-18, Santa Ana Pueblo, NM, launched last week, is proving to be popular with NOLHGA members. Go to www.nolhga.com. for the latest information about the meeting, register and reserve a room at the Hyatt Tamaya. Be assured that technical problems have been resolved, but if you have any difficulties, please contact Bryan Owen at [email protected] or at 703.787.4112. Conference registration deadline is Sept. 21 but hotel reservations must be made by Sept. 17.

  Staff Contact - Sean McKenna Bankers Commercial Life Insurance Company (TX)

NOLHGA Disburses $500,000 in Premium Collections

During the week of August 12, NOLHGA will be disbursing $500,000, one-half of the remaining premium collections held in escrow that were made by United Teacher Associates. If you recall, $1,000,000 of premium collections were held back to be used to help fund TPA expenses paid through NOLHGA. It is anticipated that the remaining $500,000 will be disbursed during the fourth quarter of 2001.

Please contact Hazel Manclark at 703.787.4110 if you do not receive your payment by the end of the week.

Task Force Chair: William Falck (FL);   Staff Contact - Paul Peterson Executive Life (CA)

Judge Denies NOLHGA's Motion To Intervene

Judge Howard Matz August 6 denied NOLHGA's motion to intervene in the California Insurance Commissioner's lawsuit against Altus Finance and others. Without oral argument, Judge Matz denied the motion on the following grounds: (1) that the commissioner was the sole party authorized to assert claims on behalf of the ELIC estate; (2) that NOLHGA did not overcome the presumption that the representation of the ELIC estate by the commissioner was adequate; (3) that NOLHGA's motion was untimely because NOLHGA was aware of the basis for its claims since 1998; and (4) that NOLHGA's interests were not impaired or impeded.

The NOLHGA ELIC Task Force has not considered what, if any, action should be taken in response to the judge's decision. The decision will be an item for discussion at the Denver MPC where the ELIC Task Force is scheduled for an executive session Meeting in the Round August 21.

Task Force Chair - Art Dummer (UT);   Staff Contact - Pacific Standard Life Insurance Company (CA)

Third Supplemental Benefit Report Mailed

The third annual package, listing potential supplemental benefit costs covering the period July 2000 through June 2001 were mailed August 9. These ongoing supplemental benefits were provided by certain guaranty associations as a result of the restructuring of the original Pacific Standard policies into Hartford contracts and are anticipated to occur until approximately 2003.

Affected guaranty associations providing additional benefits for the above period include: HI, IL, MA, NC, VT, VA and WY. The package includes reports reflecting the benefit payments to be made to policyholders, sample letter to be mailed to policyholders, projected future benefit costs and expenses and a confirmation request form to be completed by each guaranty association for the upcoming year.

Affected guaranty associations are requested to fax their completed confirmation requests to Paul Peterson, NOLHGA, at 703.787.4119.

Task Force Chair: Bart Boles (TX);   Staff Contact - Paul Peterson

Denver MPC Agenda Revised

American Chambers Life Insurance Company has been added to the agenda of the Members' Participation Council meeting Aug. 20-22 at the Brown Palace in Denver. A revised agenda follows this edition of the Weekly Wire.

  Staff Contact - Sean McKenna

Members Participation Council

August 20-22, 2001
The Brown Palace
Denver, CO

Revised Agenda, August 9, 2001

August 22

Ballroom A
7:30 AM: Breakfast

8:30 AM: Guest Speaker
Mr. William J. Kirven III Commissioner, Colorado Division of Insurance

9:00 AM: Call to Order
Mr. Falck, Chairman

Approval of Minutes

9:05 AM: Reports on Impairments and Insolvencies

Bankers Commercial Life Insurance Co. (LA)
Mr. Falck, Florida

First National Life Insurance Co. (AL)
Mr. Marchman, Georgia

American Standard Life Insurance Co. (OK)
Ms. Bowers, South Carolina

Thunor Trust Companies
Mr. Colpean, Michigan

9:45 AM: Break

10:00 AM: Administrators' Education Steering Committee
Mr. Falkenbach, Delaware (moderator)

Presentation on Assessment Refunds and Credits
Ms. Becker, Kansas
Mr. Coffman, Texas
Mr. Grimes, Florida
Mr. Leonard, California
Mr. Miller, North Carolina

11:00 AM: Reports on Impairments and Insolvencies (cont.)

American Chambers Life Insurance Co. (OH)
Mr. Gullickson, South Dakota

Mutual Security Life Insurance Co. (IN)
Mr. Hill, Iowa

Centennial Life Insurance Co. (KS)
Mr. Femal, Wisconsin

George Washington Life Insurance Co. (WV)
Mr. Boles, Texas

11:30 AM: Update on Financial Services Modernization
Mr. Gallanis, NOLHGA

11:45 AM: Adjournment

  Staff Contact - Sean McKenna