Global Bankers Insurance Group (North Carolina)
NC Supreme Court Grants Withdrawal of Liquidation Order Appeal
On August 23, 2024, the North Carolina Supreme Court granted Global Bankers Insurance Group’s (GBIG’s) motion to withdraw its Petition for Discretionary Review of the Liquidation Order against Colorado Bankers Life Insurance Company (CBLIC) and Bankers Life Insurance Company (BLIC). As a result, the Liquidation Order’s anticipated effective date—and the anticipated triggering of guaranty associations in the BLIC and CBLIC cases—is expected to occur on November 30, 2024.
Task Force Chair – John Colpean; Staff Contact - Bill O'Sullivan2024 Annual Meeting Registration Is Open!
Registration for NOLHGA’s 2024 Annual Meeting, which will be held at the JW Marriott Nashville on October 7–9, is now open. The meeting program is still taking shape, but highlights include:
- Remarks from Tennessee Insurance Commissioner Carter Lawrence
- An economic outlook from Wellington Management’s Juhi Dhawan, back by popular demand after her presentation at last year’s meeting
- An MPC meeting with presentations on the latest receivership activities (some presentations will be limited to guaranty association representatives only)
- The Annual Meetings of GABC & LTC Re
- A “lessons learned” presentation by the Penn Treaty/ANIC Task Force
The Annual Meeting website offers registration for in-person or virtual attendance as well as hotel reservations, a preliminary schedule for the Annual Meeting, and other meeting information. Annual Meeting registration is $675 for guaranty association members and $775 for non-members. The Guest fee, which provides access to all Annual Meeting group events, is $125. There is no fee to attend the MPC meeting, but some sessions will be restricted to guaranty association representatives only.
Staff Contact - Sean McKennaIAIR Educational Sessions in the Fall
The International Association of Insurance Receivers (IAIR) is offering a series of online educational sessions this fall.
September 10: Ethics & Artificial Intelligence
11:00 a.m. – 12:00 p.m. EDT
Speakers
- Bill Goddard: Principal, Sustain Insurance Services; Insurtech Investor, Electromagnetic Advisors; Adjunct Professor, University of Connecticut School of Law
- Thomas Graham, Ph.D.: Co- Founder, Semnos Partners
1:00 p.m. – 5:00 p.m. EDT
Session 1: Introduction to the Property and Casualty Annual Statement
Speaker: Marwan Zabaneh: Consultant, Former Booke Seminars Instructor
Session 2: Profitability and Negative Trends – How to Spot Poor Performance and Negative Loss Trends in the Property and Casualty Annual Statement
Speaker: Joe Holloway: California Conservation and Liquidation Office
Session 3: Investments – Real Estate, Unsecured Loans, Schedule BA Investments and Aggregate Write-Ins for Miscellaneous Other Assets. Red Flags!
Speaker: TBA
October 17: Technical Development Series (TDS), Day 2: “It’s All in the Numbers: Interpreting Financial Statements for Early Detection of Financial and Other Issues”
1:00 p.m. – 5:00 p.m. EDT
Session 4: Loss Reserves and Pricing – Schedule P Analysis of Loss Reserve Adequacy
Speaker: TBA
Session 5: Reinsurance – Loss Reserve Credit, Paid Recoverable and Provision for Reinsurance
Speaker: Marwan Zabaneh: Consultant, Former Booke Seminars Instructor
Session 6: Case Study: Almost Broke Property and Casualty Insurance Company - Warning Signs, Fraud and Lessons Learned
Speaker: TBA
For fees and registration information, click here or contact IAIR at 518.417.2882 or [email protected].