December 6, 2019 Executive Life Insurance Company (California)

ELIC Estate to Close

Nearly 29 years after the order that placed Executive Life Insurance Company into liquidation, California Superior Court Judge Kwan signed an order on December 4, 2019, granting the California Commissioner’s Petition to take the necessary actions to close the estate. The wind down and distribution process will begin immediately, with the final distribution of estate assets scheduled for July 2020 and complete estate closure, discharge of the Receiver, and dismissal of the Receivership Court action expected in 2021.

Task Force Chair - Art Dummer;   Staff Contact - Bill O'Sullivan

Florida GA Names New Executive Director

The Florida Life & Health Insurance Guaranty Association has named former Florida Deputy Insurance Commissioner Michelle Robleto as its next Executive Director. Robleto will replace William Falck, who served as Executive Director of the association for almost 30 years. Falck also served as NOLHGA MPC Chair and on the NOLHGA Board.

Robleto has more than 25 years of public and private sector experience, specializing in insurance operations, solvency, product development, and public policy. As Florida Deputy Insurance Commissioner, she was responsible for the management, growth, and solvency of the third largest insurance market in the United States. She also administered an employee benefit program of 375,000 lives and $2 billion in Trust Fund expenditures. In those roles, and as Executive Director of the Florida Health Insurance Advisory Board, Chief Operating Officer at FBMC, Executive Director of the Florida Comprehensive Health Association, and Director with Blue Cross Blue Shield of Delaware, her leadership positions have encompassed all facets of the life and health insurance industries.

William Falck will serve as Deputy Executive Director and General Counsel for a period of transition.

  Staff Contact - Sean McKenna

Georgia GA Seeks Accountant

The Georgia Life & Health Insurance Guaranty Association is accepting applications for its accounting position. The accountant directs the financial planning and accounting practices as well as its relationship with lending institutions and the financial community for three entities: The guaranty association, the Georgia Insurers Insolvency Pool, and the Marchman Steele Agency. Duties include:

• Oversees and directs treasury, budgeting, audit, tax, accounting, purchasing, payroll, 401(k), long-range forecasting, and insurance activities.
  
• Directs the procedures and computer application systems necessary to maintain proper records and to afford adequate accounting controls and services.
  
• Directs activities such as assessments, custodian of funds, securities, and assets of the organization.
  
• Appraises the organization’s financial position and issues quarterly (or as requested) reports on the organization’s financial stability.
  
• Directs and coordinates the establishment of budget programs.
  
• Coordinates tax reporting programs including 1099 filings, payroll reporting, and corporate tax filings.

Candidates must possess a Bachelor’s Degree (B.A.) in Accounting from a four-year college or university; 8 to 10 years related experience and/or training; or an equivalent combination of education and experience.

Contact Carol Wright ([email protected]; 770.621.9835, ext. 229) for a complete job description or to apply for the position. The successful candidate will work/train with the current accountant for an undetermined period of time before assuming all accounting responsibilities.

  Staff Contact - Sean McKenna