Milliman's Smith to Speak at Annual Meeting
Brad Smith, Chairman of Milliman, will speak at NOLHGA's 2010 Annual Meeting in Seattle.
Smith joined Milliman in 1986 and was elected Chairman of the firm in May 2000. His primary area of expertise is individual life, annuity, and health insurance, including the development of products as they relate to the overall strategic direction of a company. He is a frequent speaker and has written for numerous industry publications, including Transactions of the Society of Actuaries and Best's Review. He is a co-author of U.S. GAAP for Life Insurers, published by the Society of Actuaries. In 2009, he was named to Insurance Newscast's list of the 100 Most Powerful people in the North American Insurance Industry.
NOLHGA's 2010 Annual Meeting will be held October 5 and 6 at the Grand Hyatt Seattle (an MPC meeting will be held on October 4). More information on the meeting, including online registration and hotel reservations, can be found at the meeting Web page.
Staff Contact - American Western Life Insurance Company (Utah)Final Distributions Made
The receiver recently mailed checks to affected guaranty associations for the final estate distributions regarding the American Western insolvency. The checks represent an interest distribution on approved guaranty association expense and policy-level claims. With this distribution, guaranty associations recovered approximately $5.7 million on their respective expense and policy-level costs.
Task Force Chair - Chuck Renn; Staff Contact - Benicorp Insurance Company (Indiana)Funds Distributed to GAs
NOLHGA recently received the remaining funds related to the $10.8 million distribution approved by the court in April 2010. The allocation of these funds was sent to guaranty associations via e-mail on July 27; please contact Gus Estrada ([email protected]) if you do not receive your funds in the near future. With this distribution, guaranty associations have received approximately $19.2 million, including cash distributions and recoveries from deposits. The distribution brings the Class II amount to 34%. Also, the Class I amounts are paid 100% per the latest proof of claim filing. The task force expects the receiver to make another distribution later this year.
Task Force Chair - Frank Gartland; Staff Contact - Paul PetersonGA Contact Info
The New Jersey Life & Health Insurance Guaranty Association has a new address. The association is now located at:
11 Wharf Avenue, Suite One
Red Bank, NJ 07701
Phone: 732.345.5200
Fax: 732.345.5204