NOLHGA's Annual Meeting Slated for DC
NOLHGA's 26th Annual Meeting will be held at the Fairmont Washington in Washington, D.C., on October 13 and 14, 2009. An MPC meeting will take place on October 12.
The 2009 Annual Meeting program will address a wide variety of guaranty system issues, including how to strengthen the safety net, the push for federal insurance regulation, the future of state regulation, how guaranty associations might fit into a federal regulatory regime, the insolvency outlook for 2010, and more. Additional information about the meeting and program will appear in future issues of the NOLHGA Wire and other NOLHGA publications and e-mails.
If you have any questions about the meeting, please contact Holly Wilding at [email protected].
Staff Contact - Kentucky Central Life Insurance Company (Kentucky)Transition of Post-closing Policy Inquiries Begins March 1
Beginning March 1, 2009, the Kentucky Office of Insurance will begin forwarding unresolved Kentucky Central policy inquiries to the individual state guaranty associations, as reported at the January 2009 MPC meeting. The Kentucky Office of Insurance has continued to receive calls and inquiries relating to Kentucky Central policies since the estate closed in December 2007. Some of those inquiries are resolved by the Office of Insurance by directing the caller to the appropriate assuming carrier or by confirming that a policy had lapsed or was otherwise terminated or surrendered. However, there may still be additional industrial life policies outstanding that were not transferred to an assuming carrier.
Throughout 2008, unresolved policy inquiries were sent to Baker & Daniels for review and coordination with the state guaranty associations. As of March 1, any unresolved policy inquiries will be forwarded directly to the state guaranty associations for review and consideration. The task force's January 14 report contains information and guidance to assist affected associations with this transition. For ease of access, affected associations may obtain an additional copy of the January 14 report from Aimee Hoffman ([email protected] or 703.787.4115) at NOLHGA.
Task Force Chair - John Colpean; Staff Contact - Joni ForsytheNAIC Spring National Meeting Final Agenda Posted
The NAIC's Spring National Meeting will be held in San Diego from March 14 to 18, 2009. Activities related to receivership and guaranty association issues include the following:
On March 15, guaranty association administrators and staff can begin their morning at the NOLHGA/NCIGF joint Guaranty Fund Managers Forum. The forum will begin at 8:00 a.m. in the "Gregory-AB" meeting room of the Manchester Grand Hyatt and will include a warm buffet breakfast. For those planning to attend, your R.S.V.P. is requested by March 9.
Later that day, the NAIC's Financial Regulation Standards and Accreditation Committee (FRSAC) will meet and discuss 2008 revisions to the Hazardous Financial Condition Model Regulation and 2006 revisions to the Risk-Based Capital Model Act and the Annual Financial Reporting Model Regulation. The committee will also renew discussions with respect to incorporation of the NAIC's 2005 Insurer Receivership Model Act (IRMA) into state accreditation standards.
The Receivership and Insolvency (E) Task Force (RITF) meets on March 16 to consider Data Privacy Policies and Procedures recommended by the RITF's Technology and Administration Working Group. On March 17, the revised Life and Health Insurance Guaranty Association Model Act is expected to be presented for final approval at the NAIC's joint Executive/Plenary meeting.
The March meeting of the NAIC's Alternative Restructuring Mechanisms for Troubled Companies Subgroup has been cancelled.
The final agenda has been posted to the NAIC Web site. The IAIR meeting agenda is available online at www.IAIR.org.
Staff Contact - Joni Forsythe