2008 Annual Meeting Reminder
NOLHGA’s 25th Annual Meeting will be held October 7 and 8, 2008, at the Four Seasons Resort Jackson Hole in Jackson Hole, Wyoming. An MPC meeting will be held on October 6.
More information about the Annual Meeting will appear in the NOLHGA Wire and other NOLHGA publications in the coming months. If you have any suggestions for the Annual Meeting program or 25th anniversary commemorations, please contact Holly Wilding.
Staff Contact -April MPC Meeting Web Page Now Available
The Web page for NOLHGA’s April 29-30, 2008, MPC meeting in Raleigh, North Carolina, is now available. The page features a link to the Web site of the Raleigh Marriott Crabtree Valley (the host hotel) as well as online registration and other meeting information.
The NOLHGA room rate for the meeting is $157/night plus tax, and the "Raleigh Marriott" section of the Web page features a link that allows attendees to book their room(s) online and obtain the special NOLHGA rate. The cut-off date for hotel reservations is April 14.
If you have any trouble accessing the meeting Web page, please contact Dan Hicks at [email protected] or 703.787.4112. Questions concerning the MPC meeting should be directed to Sean McKenna at [email protected] or 703.787.4106.
Staff Contact - Sean McKenna States General Life Insurance Company (Texas)Expense Reporting for Final Proof of Claim Due
The States General Task Force is in the process of preparing a final update to the guaranty associations' Omnibus Proof of Claim in the SGLIC insolvency. The final update will reflect guaranty association claims and expenses incurred through December 31, 2007. Accordingly, affected associations are reminded to submit updated expense information for inception through year-end 2007 using NOLHGA's online Proof of Claims Survey. Please contact Gus Estrada at 703.787.4131 if you have any questions concerning use of the online reporting tool.
Task Force Chair – Tad Rhodes; Staff Contact - Joni ForsytheReminder--Conflicts Surveys and Antitrust Certifications Due February 29
Responses to NOLHGA's annual Conflicts and Antitrust Compliance Surveys are due today, February 29. If you have not already returned your surveys, please take a few minutes to review these materials and return the completed forms to Aimee Hoffman at NOLHGA. The forms should only take a few minutes to complete, and your timely response is very important. Your assistance in this matter is greatly appreciated.
Please send your responses to:
Aimee Hoffman
c/o NOLHGA
13873 Park Center Road, Suite 329
Herndon, VA 20171
703.787.4115 (phone)
703.481.5209 (fax)
[email protected]
NAIC's Restructuring Mechanisms for Troubled Companies Subgroup Convenes
On February 28, 2008, the NAIC's Restructuring Mechanisms for Troubled Companies Subgroup ("RMTC") was convened via conference call to begin discussions and develop a plan for completing its 2008 charge. In particular, this subgroup has been asked to study solvent schemes of arrangement, Part Vii portfolio transfers (leaving no recourse to the original contractual obligor/insurer), and other similar restructuring mechanisms to determine how these types of mechanisms are used and implemented, the potential effect on domestic companies, and best practices for state insurance departments to consider in connection with such mechanisms. The full text of the subgroup's charge is posted on the NAIC Web site. The subgroup expects to produce a whitepaper on restructuring mechanisms, which could then be used to inform future NAIC initiatives in this area.
The starting point for this effort will be the development of a general questionnaire to be sent to interested parties and regulators inviting input and comments regarding the pros and cons of such mechanisms, as well as any specific concerns they may raise. The questionnaire is expected to be finalized for distribution by NAIC staff within the next couple of days, and responses will be due by March 24. Comments received in response to the questionnaires will be discussed at an in-person meeting scheduled for March 28 in conjunction with the NAIC's Spring National Meeting. All persons included on the interested party or interested regulator lists for this group should receive a copy of the questionnaire and invitation to comment. Anyone interested in receiving a copy of the questionnaire, or who would like to receive future notices concerning this subgroup, should contact David Vacca at [email protected].
Staff Contact - Joni ForsytheGA Contact Information
The Wisconsin Insurance Security Fund has converted to a new e-mail system. The new addresses for staff members are:
Randy Blumer (executive director): [email protected]
Donna Weber (executive assistant): [email protected]