AF&L/Senior American Insurance Companies (Pennsylvania)

Expense Information Needed

The AF&L/Senior American Task Force is working to collect information concerning guaranty association expenses incurred in connection with SAIC for purposes of strategic planning and discussions with the Pennsylvania Department of Insurance. We are asking for expense data for the reporting period inception through June 30, 2020, for SAIC only. Please submit your expense information no later than Friday, July 31, 2020.

Expense data should be submitted via NOLHGA’s online proof of claim survey tool. Please advise Joni Forsythe by email if you have no expenses to report. If you have any questions regarding the online proof of claim survey tool, please contact Gus Estrada at 703.787.4131 or [email protected]. For all other questions, please contact Joni Forsythe at 703.787.4103 or [email protected].

Task Force Chair - Bart Boles;   Staff Contact - Joni Forsythe Time Insurance Company (Wisconsin)

Rehabilitation Order Issued

On July 29, 2020, the Dane County Circuit Court of Wisconsin issued a Rehabilitation Order (“Order”) with respect to Time Insurance Company (“Time”). Among other matters, the Order appoints Wisconsin Insurance Commissioner Mark Afable as the Rehabilitator of Time and Mark Femal of Strohm Ballweg as the Special Deputy Commissioner for the purpose of carrying out the Rehabilitation. The Order further provides for the Rehabilitator to file a rehabilitation plan for Time within 60 days.

Time, which is or was licensed in all states (other than New York) and the District of Columbia, wrote life, annuity, and various forms of health insurance, including long-term care insurance. Except for approximately 100 policies, all of Time’s in-force business is 100% indemnity reinsured with other insurers. NOLHGA’s Time Task Force will report on the status of the company during next week’s MPC meeting.

Task Force Chair - Jack Falkenbach;   Staff Contact - Bill O'Sullivan