Universe Life (ID)
Assumption Reinsurance Agreement Closes
On December 28, NOLHGA, Madison National Life and participating guaranty associations closed an assumption reinsurance agreement under which 191 individual health and disability policies were transferred to Madison National. PGAs funded $94,085 in support of the covered obligations.
In other Universe news, the policy form 915 block, a cancelable disability policy, will be administered by the Colorado Association effective January 1, 2000. There are approximately 36 policies in the block, almost all of which are owned by Colorado residents.
Task Force Chair - Tad Rhodes; Staff Contact - Paul PetersonLegal Seminar Scheduled For July
Mark your calendars! The 9th annual NOLHGA Legal Seminar will be held in Boston and has been scheduled for Thursday and Friday, July 20-21,, 2000 at the Fairmont Copley Plaza. The Fairmont is a four star property located in Boston's Back Bay district, and is within walking distance of historic Faneuil Hall, the theater district, Copley Square shopping, Newbury Street antiquing, and much more. NOLHGA negotiated an extremely favorable room rate of $165 for seminar attendees which will be honored for the entire week of the event including the following weekend. Prospective attendees are urged to make their reservations early. For those wishing to secure a reservation, the hotel's number is 617.267.5300. Registrants should indicate they are attending the NOLHGA Legal Seminar. The Boston Chamber of Commerce can be reached at 617.227.4500 for additional information about Boston.
The Legal Seminar Planning Committee will meet to begin preparing the program. Meg Melusen will be the NOLHGA staff contact for the event. Please contact Meg with any questions about the event or suggestions regarding topics to be included in this year's program. We appreciate the enthusiasm and support of all our members and will strive to make the 2000 Legal Seminar the best yet.
Staff Contact - Executive Life (CA)Unisys Demand Letters Received
Recently, at least eight participating guaranty associations (PGAs) received letters from an attorney for the Unisys Corporation claiming that certain participants in a Unisys Plan holding ELIC GICs were entitled to recovery from that state guaranty association. The eight PGAs known to have received such letters are FL, IA, KS, MO, MT, OK, RI and VA. All PGAs are asked to update NOLHGA's Law Department regarding the status of any actual or threatened Unisys litigation involving their association by contacting attorney Meg Melusen at 703.787.4130.
Task Force Chair - Art Dummer; Staff Contact -CALENDAR/CONFERENCE CALLS
January 6: FBLIC Task Force Meeting, Herndon, VA
January 26: Claims Valuation Subgroup Meeting, Dallas, TX