MPC Meets in Boston

The Members’ Participation Council (MPC) met in Boston on July 10, 2019. The task forces for AF&L/Senior American Insurance Companies (Pennsylvania), North Carolina Mutual Life Insurance Company (North Carolina), and Northwestern Nationwide Insurance Company of Milwaukee, Wisconsin, met, and the Lincoln Memorial/Memorial Service Life Insurance Companies (Texas) Task Force conducted a closed-session litigation update. The Administrators Education Steering Committee and MPC Executive Committee also met. In addition, an Insolvency Briefing was held—the briefing featured updates on the activities of the following task forces:

• Penn Treaty Network America/American Network Insurance Companies (Pennsylvania)
  
• Lincoln Memorial/Memorial Service Life Insurance Companies (Texas)
  
• AF&L/Senior American Insurance Companies (Pennsylvania)
  
• North Carolina Mutual Life Insurance Company (North Carolina)
  
• Northwestern Nationwide Insurance Company of Milwaukee, Wisconsin

The Briefing also featured discussions on other insolvency topics.

In addition to the task force reports below, the MPC General Session featured a closed-session presentation by the Penn Treaty Network America/American Network Insurance Companies (Pennsylvania) Task Force. NOLHGA President Peter Gallanis provided the President’s Report, and MPC Chair Tom Sullivan briefed attendees on MPC Executive Committee activity. Mr. Sullivan also announced the upcoming retirements of Mike Surguine (Executive Director of the Arizona Life & Disability Insurance Guaranty Fund, effective July 12, 2019), Charles Renn (Executive Director of the Missouri Life & Health Insurance Guaranty Association, effective this fall), and William Falck (Executive Director of the Florida Life & Health Insurance Guaranty Association, effective in early 2020). Mr. Sullivan announced that Tamara Kopp will succeed Mr. Renn at the Missouri association.

  Staff Contact - Sean McKenna AF&L/Senior American Insurance Companies (Pennsylvania)

Task Force Chair Bart Boles (Texas) provided an update on these two long-term-care companies, which have been in runoff since 2005. The liquidation hearing for Senior American that was scheduled for June 2019 was canceled, and the task force is preparing for the possible liquidation of Senior American.

Task Force Chair - Bart Boles;   Staff Contact - Joanna Akiyama American Medical & Life Insurance Company (New York)

Task Force Chair Andrea Bowers (South Carolina) provided an update concerning the American Medical receivership. American Medical was placed in liquidation as of December 28, 2016. There were approximately 28 limited-benefit medical conversion policies in force as of the date of liquidation. All but one of those policies were held by New York residents. The other was held by an Oregon resident and was sent to the Oregon guaranty association for further review and consideration.

Task Force Legal Counsel Joel Glover (Faegre Baker Daniels) reported that the task force timely filed an Omnibus Proof of Claim seeking to recover claims and expenses of the affected guaranty associations and is waiting for a reply from the New York Liquidation Bureau (NYLB).

Task Force Chair - Andrea Bowers;   Staff Contact - Joni Forsythe

Florida GA Seeks Executive Director

The Florida Life & Health Insurance Guaranty Association is seeking a well-qualified candidate to fill the position of Executive Director. The association is a nonprofit insurance industry–supported organization that handles and funds, pursuant to statute, insurance claims of Florida residents if their life, health, annuity, or long-term care insurer becomes insolvent.

The Executive Director is an independent contractor position reporting directly to the Board of Directors. The Executive Director is responsible for carrying out the duties of the association and maintaining adequate professional staffing during times of varying work activity levels. Ability to travel and effectively coordinate activities with other state guaranty associations through a national organization, with insurance receivers, and with regulators is essential.

The hire date is anticipated to be January 1, 2020, with a reasonable transition period.

Candidate requirements:

• Significant experience in the life or health insurance industry or a related setting, such as regulatory, legal, or consulting
  
• A background in insurance, law, accounting, finance, and/or actuarial science is desirable
  
• Prior experience with an insurance guaranty association or in a receivership setting is a plus
  
• Ability to work with other state guaranty associations, the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA), and regulators
  
• Capable of managing day-to-day operations as an independent contractor
  
• Ability to administer operations in accordance with policies and procedures adopted by the association
  
• Ability and willingness to participate at the national level: NOLHGA, NAIC, IAIR, etc.

Please send all responses and résumés to Frank O’Loughlin, Lewis Roca Rothgerber Christie LLP, 1200 17th Street, Suite 3000, Denver, CO 80202 or by email to [email protected] by July 31, 2019.

  Staff Contact - Sean McKenna

Arizona DOI Seeks Guaranty Funds Executive Director

The Arizona Department of Insurance is seeking a seasoned professional with expertise in insurance, finance, and law to direct, manage, administer, and supervise all operations of the Arizona Life & Disability Insurance Guaranty Fund and the Arizona Property & Casualty Insurance Guaranty Fund (“Arizona Guaranty Funds”). Collectively, the Arizona Guaranty Funds act as a safety net for Arizona citizens and businesses covered by insurance policies issued by an insurer that becomes insolvent. The Arizona Guaranty Funds step into the shoes of insolvent insurance companies to pay obligations within statutory limitations. Each of the Arizona Guaranty Funds is administered by a Board established within the Arizona Department of Insurance. The Executive Director executes the powers and duties of each fund in accordance with the Board’s plan of operation.

To apply for the position, go to https://azstatejobs.azdoa.gov/ and search for job ID #48313.

  Staff Contact - Sean McKenna