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Executive Life Insurance Company (Calif.)

PGAs Receive FEC Litigation Trust Funds

As previously reported, NOLHGA received $401,906.01 from the FEC Litigation Trust in addition to the $27.7 million distributed in November 2002. Of this amount, NOLHGA has confirmed that $237,347.47 should be distributed according to the participating guaranty association percentages. The $237,347.47 in FEC Litigation Trust funds is composed of $187,347.47, which makes up 50.7 percent of the opt-out "baby GIC" contracts, and $50,000 pursuant to an agreement reached with the FEC Structured Settlement holders. NOLHGA will distribute these funds this week.

The remaining $164,558.54 is for subrogation rights related to four pension GIC contracts that had assigned claims and were either fully or partially covered. NOLHGA is working to determine more specific details regarding these GICs in order to distribute the funds appropriately.

Task Force Chair - Art Dummer; Staff Contact -

California Department's General Counsel to Speak at Legal Seminar

Gary M. Cohen, general counsel for the California Department of Insurance, will provide the welcoming remarks for NOLHGA's 12th Annual Legal Seminar on Thursday, August 21, and will also discuss the current legal issues facing the department. Mr. Cohen, who joined the department earlier this year, most recently served as general counsel to the California Public Utilities Commission, where he worked to resolve the legal challenges of the state's energy crisis. He is a graduate of Stanford University Law School.

For more information about the Legal Seminar, please contact Aimee Frye (703.787.4115; [email protected]) or Meg Melusen (703.787.4130; [email protected]).

Staff Contact -

"Texas-Style" Reception at NOLHGA's Annual Meeting

The reception for NOLHGA's 20th Annual Meeting will have a decidedly Texan flavor thanks to the Texas Life, Accident, Health & Hospital Service Insurance Guaranty Association, which will host a performance by Esther's Follies, an Austin-based comedy troupe celebrating its 25th year as Texas's favorite musical comedy attraction. The show will feature original topical satire, musical parody, and Esther's world-class magician, Ray Anderson. Attendees will also be treated to a buffet and cocktail reception before the performance and a dessert and cordials reception afterward.

NOLHGA's 20th Annual Meeting will be held on October 28 and 29, 2003, at the Four Seasons Dallas at Las Colinas. The meeting Web page, which will offer hotel and meeting information as well as online registration, should be available next week.

Staff Contact - Sean McKenna

New MPC Agenda Now Available

A new general session agenda for the upcoming MPC meeting, which will be held August 19 and 20, 2003, at the Palace Hotel in San Francisco, Calif., has been posted on the MPC meeting Web page. The new agenda has been added to the briefing book posted last week; it can also be obtained separately by using the "Schedule of Events" link in the "MPC Meeting" portion of the Web page (users can access the link without logging in). Copies of the new agenda will be available at the meeting as well.

Please contact Bryan Owen at [email protected] or 703.787.4112 if you have any trouble accessing the MPC meeting page. Please direct any questions about the meeting to Karen Early at [email protected] or 703.787.4101.