Mutual Security Life Insurance Company (Ind.)

Distribution Made

On January 23, 2004, the Mutual Security Life estate distributed almost $2.3 million to NOLHGA on behalf of affected guaranty associations (other than Indiana). On or about the same date, the MSL estate distributed $1.7 million to the Indiana guaranty association as its share of the distribution. The MSL receiver has advised that these payments will likely represent the final distribution to guaranty associations from this estate.

NOLHGA is in the process of verifying guaranty association allocation percentages for this insolvency and will distribute the $2.3 million to the appropriate guaranty associations shortly.

Task Force Chair - Luther Hill;   Staff Contact - Bill O'Sullivan

MPC Meeting Briefing Materials Now Available

The briefing book for the next MPC meeting, which will be held February 16-18, 2004, at the Hilton Naples & Towers in Naples, Fla., has been posted on the MPC meeting Web page. Due to the confidential nature of the briefing materials, only NOLHGA Board members, guaranty association administrators, members of guaranty association boards, and other association representatives who will attend the meeting as the designated voting guaranty association representative can access the briefing book (users will need to log in after clicking on the link to access the file, which can be found in the "Meeting Resources" section). Other guaranty system representatives who have a need for a copy of the meeting agenda or a particular insolvency status report should contact the appropriate NOLHGA staff contact.

The book includes meeting and agenda schedules, the attendee list, status reports for the upcoming meeting, and other meeting materials. All files are in PDF format, and users will need Adobe Acrobat Reader to view and print the materials. Acrobat Reader is available free from Adobe at this link.

If you have any trouble accessing the MPC meeting Web page or briefing book, please contact Dan Hicks at [email protected] or 703.787.4112. If you have any questions about the meeting, contact Karen Early at [email protected] or 703.787.4101.

  Staff Contact - Sean McKenna

Guaranty Association Law Summaries Updated

NOLHGA updated its state guaranty association law summary reports on January 30, 2004, to reflect legislative changes that took place between July 1 and December 31, 2003. No significant changes have taken place since the July 2003 update.

The law summaries are available at the "State Information" section of the NOLHGA Web site. They can be viewed and printed by selecting a specific report from the "State Guaranty Laws and Provisions" drop-down menu, which lists the reports by topic. Users can also generate individual state reports by choosing a state from the "State Guaranty Association Pages" drop-down menu. In addition to summaries of state guaranty laws, the "State Information" section of NOLHGA's Web site provides users with state guaranty association contact information as well as links, where applicable, to the association's Web site and the corresponding state insurance department's site.

  Staff Contact -