Bankers Commercial Life (TX)
TPA Transition
NOLHGA has received approximately $5.7 million from United Teacher Associates (UTA) representing premium collections through November 2000. An additional $830,000 for December 2000 collections is expected to be received soon. We anticipate disbursing these funds to affected guaranty associations within the next few weeks.
The transition of administrative services from United Teacher Associates to New Era Life is scheduled to occur on or about February 1. Guaranty associations were sent a brief memo on January 18th via email discussing key items they should be aware of regarding the transfer of functions. The memo briefly discusses: funding of January claims to UTA; certain mailings to policyholders during the later part of January; customer service phone coverage; claims processing cutoffs at UTA; and claims processing by New Era. Guaranty associations should note that weekly claims reporting and funding has been established as part of the services provided by New Era. This is a change from the previous monthly funding process and was established to minimize the level of potential phone calls that may be received. Guaranty associations should contact Paul Peterson at NOLHGA should they have any questions regarding the transfer of administrative services.
Finally, the third party administrative agreement with New Era should be finalized and mailed to guaranty associations within the next 2-3 weeks for election to participate.
Task Force Chair - William Falck; Staff Contact - Paul Peterson Kentucky Central Life (KY)Survey of Unpaid Guaranty Association Assessments
The Kentucky Central Life Task Force is in the process of updating the Omnibus Proof of Claim filed on behalf of the Guaranty Associations affected by the KCL insolvency. In order to make the claim as comprehensive and complete as possible, we would like to include all applicable unpaid guaranty association assessments for KCL. To this end, we will be distributing a survey to the affected guaranty associations seeking information about unpaid assessments by year, amount, the period covered by the assessment, and the date billed, if applicable. The Surveys will be sent either today or Monday. We ask that you take a few minutes to fill in the requested information and return to NOLHGA by fax or mail by January 31, 2001.
Please do not hesitate to call if you have any questions. Assessment information should be addressed to NOLHGA, Attention Aimee Frye, 13873 Park Center Road, Suite 329, Herndon, VA 20171. If you prefer, you may send them by fax to 703.481.5209.
Task Force Chair - John Colpean; Staff Contact - Joni ForsytheBill Howard Retires
As many of you know, NOLHGA's Bill Howard announced his early retirement effective December 31. Bill joined NOLHGA in February, 1993 at a time when there was no shortage of failing companies. Early on, he not only helped to develop our due diligence process, but also served as Actuary for Guaranty Reassurance Corporation (GRC), a company owned by the guaranty associations to handle the failure of Guarantee Security Life Insurance Company. Bill has since served as the staff task force contact on many insolvencies, including American Chambers Life, Centennial Life, and Statesman life, to name a few.
NOLHGA wishes Bill well.
In light of Bill's departure, NOLHGA staff assignments have been revised to support the insolvency task forces. The following list reflects current staff assignments:
American Chambers Life (OH)
Peter Gallanis and Meg Melusen, (703) 787-4116 and(703) 787-4130
American Integrity (PA)
Paul Peterson, (703) 787-4119
American Life Assurance Corp. (AL)
Joni Forsythe andPaul Peterson, (703) 787-4103 and(703) 787-4119
American Standard Life & Accident (OK)
Bill O'Sullivan andMeg Melusen, (703) 787-4104 and(703) 787-4130
American Western Life (UT)
Dick Klipstein, (703) 787-4117
AMS Life (AZ)Joni Forsythe, (703) 787-4103
Andrew Jackson (MS)
Joni Forsythe, (703) 787-4103
Bankers Commercial (TX)
Paul Peterson, (703) 787-4119
Centennial Life (KS)
Dick Klipstein, (703) 787-4117
Coastal States (GA)
Dick Klipstein, (703) 787-4117
Confederation Life (MI)
Dick Klipstein, (703) 787-4117
Consumers United (DE)
Meg Melusen, (703) 787-4130
Corporate Life (PA)
Paul Peterson, (703) 787-4119
Executive Life (CA)
Meg Melusen andBill O'Sullivan, (703) 787-4130 and(703) 787-4104
Fidelity Bankers (VA)
Dick Klipstein, (703) 787-4117
First Capital (CA)
Meg Melusen, (703) 787-4130
First National (AL)
Joni Forsythe and Paul Peterson, (703) 787-4103and (703) 787-4119
George Washington Life (WV)
Bill O'Sullivan, (703) 787-4104
Guarantee Security (FL)
Holly Wilding, (703) 787-4111
Inter-American Life (IL)
Joni Forsythe, (703) 787-4103
Investment Life (NC)
Pete Marigliano, (703) 787-4106
Kentucky Central (KY)
Joni Forsythe, (703) 787-4103
Mid-Continent Life (OK)
Bill O'Sullivan, (703) 787-4104
Mid-West Life (LA)
Bill O'Sullivan, (703) 787-4104
Monarch Life (MA)
Dick Klipstein, (703) 787-4117
Mutual Benefit Life (NJ)
Dick Klipstein, (703) 787-4117
Mutual Security (IN)
Bill O'Sullivan, (703) 787-4104
National Affiliated Investors (LA)
Paul Peterson, (703) 787-4119
National American (PA)
Paul Peterson, (703) 787-4119
National Heritage (DE)
Meg Melusen, (703) 787-4130
Old Colony (GA)
Dick Klipstein (703) 787-4117
PSLIC (CA)
Paul Peterson and Dick Klipstein, (703) 787-4119 and (703) 787-4117
Settlers Life (VA)
Holly Wilding, (703) 787-4111
Statesman National (TX)
Peter Gallanis, (703) 787-4116
Summit National (PA)
Paul Peterson, (703) 787-4119
Supreme Life (IL)
Joni Forsythe, (703) 787-4103
Thunor Trust
Peter Gallanis, (703) 787-4116
Unison (OK)
Bill O'Sullivan, (703) 787-4104
Universe Life (ID)
Paul Peterson, (703) 787-4119
Calendar
January 23
National Heritage Life Trustees meeting, Orlando, FL
January 23
National Heritage Life Litigation Committee meeting w/Receiver, Orlando, FL
February 7
NOLHGA Compensation Committee meeting, Tysons Corner, VA
February 8
NOLHGA Board of Directors meeting, Tysons Corner, VA