Peggy Parker Passes Away
Peggy Parker, who served as Executive Director of the Virginia Life, Accident & Sickness Insurance Guaranty Association for almost 30 years, passed away on August 11, 2025. She was 74. Her obituary can be found here.
Peggy’s accomplishments in the guaranty system are too numerous to share in their entirety, but she served as Chair of the Members’ Participation Council (MPC) from 1997–2000 and also served as a member of NOLHGA’s Board of Directors during that time. She served subsequent terms on the NOLHGA Board from 2011–2016, serving as Board Secretary from 2013–2016.
Peggy chaired the Consumers United, First Capital Life, and North Carolina Mutual Life Task Forces and served on a number of other task forces, including Penn Treaty/ANIC and London Pacific. Among her many committee roles, she served as Chair of the MPC Executive Committee and Communications Committee and as a member of the Administrators Education Committee. She served on the Boards of Guaranty Reassurance Corporation, the Florida-domiciled company owned by the state life and health insurance guaranty associations, and LTC Reinsurance PCC. She was also a member of the ad hoc committee formed to recommend to the NOLHGA Board a candidate for President of NOLHGA in 1999.
Prior to joining the Virginia guaranty association, Peggy spent 24 years with The Life Insurance Company of Virginia (which became Genworth Life & Annuity Insurance Company), where, at the time she left, she held the position of Director—Government Relations. In January 1999, she and a partner formed APM Management Services, Inc.
In addition to her professional accomplishments, Peggy was a dear friend and trusted advisor to many in the guaranty community. Her wisdom, kindness, and grace will be missed by all who knew her. NOLHGA expresses our deepest sympathies to Peggy’s family and friends.
Staff Contact - Sean McKennaUpdating Company Contact Information in AssessConnect
NOLHGA has received a number of inquiries from company representatives about updating their company’s contact information in AssessConnect, the new web-based assessment management system. As a reminder, companies can go to www.assessconnect.com and update their contact information at any time by entering their company email address. No password is needed. A secure link will be sent to the entered email allowing the individual to view, add, or delete contacts associated with that company domain.
Here are a few tips for companies updating their contact information:
- Use shared mailboxes for all assessment communications whenever possible to avoid any messages getting lost.
- AssessConnect requires that there be at least one contact for (1) assessment notices; (2) tax notices; and (3) state Board communications such as proxy notices. That contact can be the same person/mailbox for all three categories, or multiple contacts may be listed.
- When a contact is added or deleted, it will be tracked and validated by email notice.
- If there are any issues logging into the system or questions about adding and deleting contacts, please email [email protected].
While most state guaranty associations utilize AssessConnect for contact updates, Idaho, Oregon, Wisconsin, and Wyoming have a separate process. Please reach out to those associations directly to update company contact information. You can find contact information for every guaranty association here.
Staff Contact - Sean McKennaExecutive Order Issued on 401(k) Investments
On August 7, 2025, President Trump signed an executive order that aims to make it easier for retirement plans to invest in alternative assets, such as private equity. The order directs Department of Labor Secretary Chavez-DeRemer to reexamine DOL guidance and clarify the DOL’s position on a fiduciary’s duties regarding alternative asset investments in ERISA-governed retirement plans, such as 401(k)s. A fact sheet on the executive order can be found here.
Staff Contact - Sean McKennaGeorgia Commissioner King To Seek Reelection
Georgia Commissioner John King has withdrawn his bid for the U.S. Senate and announced he will run for reelection. Whether Commissioner King draws a substantial challenge for reelection remains to be seen—the filing deadline is seven months away.
Staff Contact - Sean McKennaNAIC Updates
The Annuity Suitability Working Group (ASWG) exposed a revised Safe Harbor Guidance draft on August 7, 2025. The Life Insurance and Annuities Committee was scheduled to hear an update from the working group during the NAIC’s Summer National Meeting. Comments are due September 22.
The Product Standards Committee (PSC) is considering expanding the triggers for Waiver of Premium and Waiver of Surrender Charges in the applicable Life Insurance and Annuity Uniform Standards. The PSC sought feedback in June by issuing 10 questions, and the committee received six comment letters. The ACLI reviewed its comments during a recent meeting, suggesting that the PSC develop new standards to allow insurers to offer repayment plans to policyholders who are at risk of lapsing their policies or who have already lapsed and would like to reinstate. The PSC also heard requests for new or amended standards for the 2026 prioritization list and received ACLI comments on remaining items for new or amended standards on the 2025 prioritization list. The ACLI is asking for the following changes to the 2025 prioritization list: (1) restore the prioritization level for Registered Index-Linked variable universal life products to “very high” (recently downgraded to “medium”); and (2) increase the prioritization level for Contingent Deferred Annuities from “low” to “medium.”
In other news, on August 4, the NAIC, LIMRA, and the Society of Actuaries announced the launch of a long-term care insurance industry study to examine the mortality, persistency, claim incidence, and claim termination experience for policies from 2000–2023. Thirteen companies (about two-thirds of the stand-alone long-term care insurance market) have agreed to participate, and researchers are seeking more participants.
Staff Contact - Sean McKennaAI Activity
Colorado Gov. Jared Polis has called a special session to address the state’s budget deficit resulting from the One Big Beautiful Bill Act. Gov. Polis also directed the legislature to consider possible changes to Colorado’s artificial intelligence (AI) law, which is scheduled to take effect on February 1, 2026.
The Colorado Division of Insurance is reportedly poised to adopt an amendment to its external consumer data and information sources (ECDIS) regulation, which will impose governance and risk management requirements on private passenger auto and health benefit plan insurers.
Staff Contact - Sean McKennaPrivacy Updates
On July 31, the House Financial Services Committee released a public request for information on the state of the Gramm-Leach-Bliley Act (GLBA) and what, if any, updates to the law are necessary. More information and the specific questions are available here, and responses are due August 28. The request comes after the House Energy & Commerce Committee issued a similar request earlier this Spring. That effort is expected to result in legislative text, committee hearings, and a potential markup later this Fall. The two committees share jurisdiction over privacy, given the industries in their purview. While the likelihood of legislation being enacted remains low for this Congress, these efforts will drive policy discussions on the issue for the foreseeable future.
In state-level privacy news, the California Privacy Protection Agency (CPPA) has opened the public comment period for its modified Delete Request and Opt-out Platform (DROP) system requirements regulations. The DROP regulations stem from the 2023 Delete Act and detail the requirements for the CPPA to establish an accessible deletion mechanism that allows consumers to request the deletion of all non-exempt personal information through a single deletion request to the CPPA. The modified regulations require data brokers to (1) create and regularly access the DROP, (2) process deletion requests, and (3) report the status of deletion requests. The modified regulations also provide additional clarity on DROP fees and consumer deletion request submissions. Comments are due August 18.
The CPPA has initiated legal action against Tractor Supply Company to enforce a subpoena requesting information about the company’s compliance with the California Consumer Privacy Act (CCPA) dating back to 2020. Tractor Supply has pushed back against the subpoena, stating that the five-year lookback period is overbroad, as the CPPA did not release its first batch of regulations under the CCPA until March 2023, which established the company’s obligations.
Staff Contact - Sean McKenna