Legal Seminar Planners Seek New Ideas
Planning has begun for NOLHGA's 16th Annual Legal Seminar, which will take place July 17 and 18, 2008, at The Fairmont Copley Plaza in Boston. The seminar will be held in conjunction with the MPC meeting scheduled for July 15 and 16.
The Legal Seminar Planning Committee recently held its kickoff teleconference to develop an agenda for the seminar. This year's committee is made up of the following individuals: Charles Gullickson (South Dakota), chair; John Colpean (Michigan); Jack Falkenbach (Delaware); Joel Glover (Rothgerber, Johnson & Lyons); Jim Lenaghan (New Jersey); Tad Rhodes (Oklahoma); Charlie Richardson (Baker & Daniels); Jacqueline Rixen (Law Office of Jacqueline Rixen); and Ernie Wright (Connecticut).
As always, the committee is seeking current topics of interest and importance to the industry. Please submit any ideas you might have to Meg Melusen. Suggestions regarding potential speakers are always appreciated as well.
Staff Contact -January MPC Meeting Schedule Posted; Monday Deadline for Hotel Reservations
A preliminary schedule for the upcoming MPC meeting, which will be held January 28-30, 2008, at the Ritz-Carlton, Phoenix, has been posted on the meeting Web page. Users may need to log in after clicking on the link to access the file, which can be found in the "Meeting Resources" section.
In addition, the deadline for making hotel reservations for the meeting is Monday, January 7. After that date, NOLHGA cannot guarantee room availability or the NOLHGA room rate of $219/night. Attendees can book their room(s) by calling 800.241.3333 or by going to the Ritz-Carlton Web site and using the Group Code "NOLNOLA" when booking online.
The MPC meeting schedule is in PDF format, and users will need Adobe Acrobat Reader to view and print the materials. Acrobat Reader is available free from Adobe. If you have any trouble accessing the meeting Web page, please contact Dan Hicks. If you have any questions about the MPC meeting, contact Sean McKenna.
Staff Contact - Sean McKennaNAIC Exposes IRMA for State Accreditation Standards
In June 2007, the NAIC's Financial Regulation Standards and Accreditation Committee (FRSAC) voted to expose the NAIC's Insurer Receivership Model Act (IRMA) for incorporation into state accreditation standards. The one-year exposure period began on January 2, 2008, and will run through year-end 2008, to be followed by a hearing in the spring of 2009. The exposure period notice received from NAIC staff included a full copy of IRMA as the exposure document but did not include any specific language for the wording of the proposed standard.
Under the current Part A Financial Accreditation Standards, the NAIC requires that a state have a statutory receivership scheme in place that is similar to that contemplated under the NAIC's predecessor receivership model, but does not require that states adopt the NAIC's receivership model or any specific statutory language that is "substantially similar" to that set forth in the model. FRSAC has indicated that, if adopted, an IRMA-based standard would be implemented under the current "statutory scheme" approach, rather than the NAIC's more stringent "substantially similar" standard. However, it is unclear at this point whether the NAIC will release any draft language for the proposed standard in advance of the spring 2009 hearing.
Comment letters from interested parties are due by December 31 and should be sent to the attention of Julie Glaszczak, senior accreditation manager, at [email protected].
Staff Contact - Joni Forsythe