Peggy Parker To Retire—Dennis Herchel Selected as New Virginia GA Executive Director

After 29 years of dedicated service as the Executive Director of the Virginia Life, Accident & Sickness Insurance Guaranty Association and effective December 31, 2021, Peggy Parker began her well-deserved retirement. The Virginia guaranty association Board has selected Dennis S. Herchel and DSH Consulting LLC as its new Executive Director. Peggy and her APM Management business partner, Mary Sisson, are working closely with Dennis on the transition.

Peggy is a former MPC Chair and three-time member of the NOLHGA Board, and she recently served as Chair of NOLHGA’s Communications Committee and North Carolina Mutual Life Insurance Company Task Force. She also served as Chair of the Consumers United Insurance Company and First Capital Life Insurance Company Task Forces and is a former member of the LTC Re Board of Directors.

Dennis has spent most of his career working for Mass Mutual in various capacities and has previously served within the life and health insurance guaranty association system. While at Mass Mutual, he served on the Pennsylvania and New Jersey guaranty association Boards and on the NOLHGA Board. Most recently, Dennis worked for Savings Bank Mutual Life Insurance Company and served as an alternate on the Rhode Island guaranty association Board. He has also chaired the ACLI Receivership Committee. Dennis can be reached at [email protected].

NOLHGA's Paul Peterson To Retire

Paul Peterson, NOLHGA’s Vice President of Accounting and Finance, has announced that he will retire effective July 1, 2022. He joined NOLHGA in 1993.

Before joining NOLHGA, Paul spent 13 years in the insurance industry in the financial field, gaining experience in U.S. and Canadian statutory and GAAP accounting; U.S federal and state income tax reporting; operational, commission, and treasury accounting functions; and budgeting. At NOLHGA, he serves as the main staff contact for the Accounting Issues Committee and Assessment Data Task Force and provides accounting/financial support to the vast majority of insolvency task forces. In particular, he continues to provide support to the Lincoln Memorial/Memorial Service Life Insurance Companies Task Force; his work on the litigation stemming from that case helped in the recovery of almost $260 million for the litigating plaintiffs.

Paul also serves as a vital resource on insurer insolvency and assessment issues for NOLHGA member guaranty associations. Executive Directors know they can always call on him for help with insolvency cost data or the new long-term care assessment allocation, provided they're willing to talk for a few minutes about his beloved Green Bay Packers.

Please join the entire NOLHGA family in thanking Paul for almost three decades of outstanding work (and even more outstanding friendship) and in wishing him well in his retirement.