Registration for August MPC Meeting Opens
Registration for the August 5–6, 2020, MPC meeting, which will be held virtually, is now open. Like the April MPC meeting, the August meeting will be conducted using Zoom videoconferencing software. We will again be using the Zoom Webinar platform, which is slightly different than the Zoom meetings that many of you have probably used.
Due to the confidential nature of the MPC meeting, only people who have registered in advance will be able to participate. Invitations to the meeting will only be sent to those who have registered. You can register for one or both days of the meeting by clicking the links below:
August 5
MPC Executive Committee: 1:00 p.m. to 1:45 p.m. EDT
MPC General Session, Part 1: 2:00 p.m. to 4:00 p.m. EDT
https://nolhga.zoom.us/webinar/register/WN_odJddT8FTX2eY9UE3gPP4w
August 6
MPC General Session, Part 2: 1:00 p.m. to 3:45 p.m. EDT
https://nolhga.zoom.us/webinar/register/WN_y959THrOQ4-YuFUaAy3OoA
NOTE: The presentations by the task forces for Penn Treaty/ANIC, Global Bankers Insurance Group, Time Insurance Company, and SHIP are limited to affected state guaranty associations only. The affected states are listed on the meeting schedule, which can be found on the meeting website.
Once you register for the webinar(s), you will receive a confirmation e-mail(s) that includes a link to add the webinar to your Outlook calendar. Please do not forward these emails—attendees must register individually for each session.
If you have any questions about the MPC meeting, please contact Sean McKenna at [email protected].
Notices of Determination To Be Issued
Within the next week or so, guaranty associations affected by the Reliance Insurance Company insolvency (all but Alaska, Hawaii, and Puerto Rico) will receive a notice of determination (NOD) related to Class (e) general creditor claims against the Reliance estate. We have been told that the majority of the NODs will reflect a $0 claim balance, as most of the life and health guaranty associations have been paid in full. However, seven states—Florida, Georgia, Michigan, North Carolina, Pennsylvania, Rhode Island, and South Carolina—will receive NODs reflecting premium refund claims totaling $371,695. We have also been advised that a few states (Illinois, Kansas, Texas, Virginia, and West Virginia) have unpaid assessment claims, and that those claims will also be reflected on the NODs.
It is not yet clear to what extent funds will be available to pay general creditor claims, but based on the volume of claims received to date (remember, this is primarily a P&C insolvency), it appears that general creditor claims may receive a few cents on the dollar.
Please contact Joni Forsythe at [email protected] with any questions.
Task Force Chair – Tad Rhodes; Staff Contact - Joni Forsythe