NOLHGA's 2007 Annual Meeting Web Page Goes Live

The Web page for NOLHGA's 24th Annual Meeting, which will be held October 9-10, 2007, at the Ritz-Carlton, Amelia Island in Amelia Island, Fla., is now available. The page features a preliminary meeting schedule, speaker biographies, hotel information, and online registration for the Annual Meeting and the October 8 MPC meeting, which will feature a presentation on the complexities of structured settlements.

The Annual Meeting program features speakers such as:

• Randy Wayne White: New York Times best-selling author of Hunter's Moon and writer of the Doc Ford novels
• Mark Grier: vice chairman, Prudential Financial, Inc.
• Sandy Praeger: NAIC president-elect and Kansas commissioner of insurance
• Alex Sink: chief financial officer, Florida Department of Financial Services
• Jerry Keen: Majority Leader, Georgia House of Representatives

Registration for the Annual Meeting is $550 for members and $725 for non-members. There is a $125 guest registration fee that covers attendance at the Annual Meeting welcome luncheon, reception, and breakfast. There is no registration fee for the October 8 MPC meeting.

If you have any trouble accessing the meeting Web page, please contact Dan Hicks at [email protected] or 703.787.4112. If you have any questions about the Annual Meeting, contact Holly Wilding at [email protected] or 703.787.4111.

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Dates for NOLHGA's 2008 Annual Meeting Announced

NOLHGA's 25th Annual Meeting will be held October 6-8, 2008, at the Four Seasons Jackson Hole in Jackson Hole, Wyo. The resort, "high in the Rockies, on the doorstep of Grand Teton and Yellowstone national parks," is located 20 miles from Jackson Hole Airport, which is serviced by Delta, United Airlines, Big Sky Airlines, and Northwest Airlines year-round and by American Airlines seasonally. By car, the resort is a 4-hour, 275-mile drive from Salt Lake City and an 8-hour, 550-mile drive from Denver.

More information about NOLHGA's 25th Annual Meeting will be available in the future.

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MPC Meets in San Francisco

The Members' Participation Council (MPC) met in San Francisco on July 11, 2007. The following are summaries of task force insolvency reports presented during the meeting:

  Staff Contact - Sean McKenna American Chambers Life Insurance Company (Ohio)

Task Force Chair Chuck Gullickson (South Dakota) reported that the estate received approximately $17 million from the sale of a parcel of Chicago real estate. The task force is working with the liquidator on a distribution of post-liquidation premiums received by the estate to the guaranty associations, which should be completed this quarter, and on a possible early access distribution for later this year.

Task Force Chair - Chuck Gullickson;   Staff Contact - Consumers United Insurance Company (Del.)

Task Force Chair Peggy Parker (Virginia) reported that work continues with the special deputy receiver in an effort to close the estate by year-end 2007. Along those lines, the special deputy receiver has proposed a settlement agreement addressing guaranty association administrative expenses and indicated his desire to share a draft of that agreement with members of the CUIC working group before the October MPC meeting.

Task Force Chair - Peggy Parker;   Staff Contact - Executive Life Insurance Company (Calif.)

The Executive Life MPC made a closed-session presentation.

Task Force Chair - Art Dummer;   Staff Contact - Bill O'Sullivan Executive Life Insurance Company of New York (N.Y.)

The ELNY MPC made a closed-session presentation.

Task Force Chair - Jack Falkenbach;   Staff Contact - Life & Health Insurance Company of America (Pa.)

Task Force Legal Counsel Charlie Richardson (Baker & Daniels) reported that the liquidation/distribution plan detailed in recent MPC meetings has been completed. The task force distributed opt-out packages to all affected guaranty associations, and no association chose to opt out. The plan was filed with the court on June 4, 2007, and the task force is now waiting for the court to rule on the plan.

Task Force Chair - Linda Becker;   Staff Contact - London Pacific Life & Annuity Company (N.C.)

Task Force Chair Frank Gartland (Ohio) reported that the task force is moving toward final resolution of all policy obligations now that Philadelphia American Life Insurance Company has bid for the remaining in-force "stayback" policies, which are currently being administered by Philadelphia American on behalf of the guaranty associations. He reviewed the terms of the bid, and the London Pacific MPC unanimously passed a resolution authorizing the task force to negotiate an assumption reinsurance agreement with Philadelphia American.

Task Force Chair - Frank Gartland;   Staff Contact - Paul Peterson National Heritage Life Insurance Company (Del.)

Task Force Chair Dan Orth (Illinois) reported that the task force is still pursuing recoveries, some of which are tied up in federal court. The Bear Stearns litigation continues, and the task force has established a schedule of monthly teleconferences and quarterly in-person meetings with the deputy receiver and counsel to monitor asset recovery efforts. In addition, a possible resolution of the state deposit issue is being evaluated by the liquidation court.

Task Force Chair - Dan Orth;   Staff Contact - Universal Health Care Insurance Company, Inc. (Fla.)

Task Force Chair Mike Marchman (Georgia) reported that all litigation in state court has been moved to federal court. The task force has asked for assistance from the Legal and Coverage/Claims Committees in analyzing some complex coverage and assessment issues.

Task Force Chair - Mike Marchman;   Staff Contact - Paul Peterson

Privacy Presentation and Other Reports Highlight MPC Meeting

In addition to the task force reports, the general session also featured a report from NOLHGA President Peter Gallanis on recent developments concerning financial services modernization. MPC Chair Bart Boles (Texas) reported on the activities of the NOLHGA Board and the MPC Executive Committee, noting that the Board has asked NOLHGA staff to make highlights of the quarterly management report to the Board available to NOLHGA's members.

The meeting also featured a workshop on the MPC's Health Privacy Procedures. The workshop, sponsored by the MPC Privacy Implementation Committee, was conducted by Lowell Miller (North Carolina), Bart Boles (Texas), Andrea Bowers (South Carolina), Mike Marchman (Georgia), and Bill O'Sullivan (NOLHGA staff).

  Staff Contact - Sean McKenna