MPC Meeting Briefing Book Posted
The briefing book for the upcoming MPC meeting, which will be held July 11, 2007, in San Francisco, has been posted on the joint Legal Seminar and MPC 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.
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. Other guaranty system representatives who need a particular insolvency status report should contact the appropriate NOLHGA staff contact.
The briefing book includes the meeting schedule, an attendee list, status reports for the upcoming meeting, and other meeting materials. It 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 or briefing book, please contact Dan Hicks at [email protected] or 703.787.4112. If you have any questions about the meeting, contact Sean McKenna at [email protected] or 703.787.4106.
Staff Contact - Sean McKennaNAIC's E Committee Votes to Continue Work on GA Model Laws
On June 27, 2007, the NAIC's Financial Condition (E) Committee met via conference call to consider recommendations presented by the Receivership and Insolvency Task Force on the issue of whether the Life and Health Insurance Guaranty Association Model Act and Property and Casualty Insurance Guaranty Association Model Act meet the standards for NAIC model laws under the NAIC's new Model Law Development Framework. This new framework sets forth two criteria for development of model laws or amendments to existing models: the first requires a finding that the subject of the model law necessitates a national standard and requires uniformity amongst all states, and the second requires commitment on the part of NAIC members to devoting significant regulator and association resources to educate, communicate, and support a model that has been adopted by the membership. Before any work can be done with respect to a model or proposed model, the work must be approved by the Parent Committee and the NAIC's Executive Committee based on these criteria.
Since the framework was unveiled in early May, work on the guaranty association model laws has been on hold pending the requisite approvals. During its call, E Committee voted to recommend the continuation of work on these models. This recommendation will be presented to the Executive Committee for consideration at the September NAIC meeting, or earlier if an interim call can be arranged. If approved by the Executive Committee, work on these models will recommence. The framework requires that work on the models then be completed within one year of Executive Committee approval and that the models be ready for action by Executive/Plenary at the next quarterly NAIC meeting following the one-year anniversary of the approval.
Staff Contact - Joni Forsythe