S.C. Insurance Director Kitzman to Speak at Annual Meeting
Eleanor Kitzman, director of the South Carolina Department of Insurance, will speak at NOLHGA's 22nd Annual Meeting, which will be held October 25 and 26, 2005, at the Westin Resort, Hilton Head Island in Hilton Head, S.C. She is scheduled to provide the welcoming remarks on October 25.
Kitzman was appointed by Governor Mark Sanford as director of insurance in February 2005. Prior to her appointment, she founded Driver's Choice Insurance Services, a South Carolina automobile insurance organization. Kitzman previously held management positions with several insurers and reinsurers and practiced law with the Austin office of Akin, Gump, Strauss, Hauer & Feld. She received her B.A. from the University of Houston in 1984 and her J.D. from South Texas College of Law in 1986.
More news about NOLHGA's 22nd Annual Meeting will appear in future issues of the NOLHGA Wire and other NOLHGA publications.
Staff Contact - Life & Health Insurance Company of America (Pa.)Reinsurance Agreement Closes
On June 1, 2005, NOLHGA and Philadelphia American Life Insurance Company closed the reinsurance transaction for LHICA's military allotment, universal life, single premium whole life, and AD&D products--a total of approximately 700 policies, with reserves of approximately $1.3 million. Twenty-two guaranty associations participated in the reinsurance agreement.
Task Force Chair - Linda Becker; Staff Contact -Special Meeting in Boston to Discuss Proposed New Receivership Model
During the 2005 NAIC Summer National Meeting in Boston, the NAIC's Financial Condition (E) Committee will convene a special open meeting to begin discussion of the proposed new model receivership act and to hear brief comments from interested parties. The meeting is scheduled for June 13 from 11:00 a.m. to 12:30 p.m., with the location to be announced. The NAIC has requested that interested parties wishing to provide oral comments to the committee during this meeting notify Karen Schutter at [email protected] or 816.783.8024 no later than June 8 and provide a written copy of such comments on the day of the meeting. NOLHGA will be participating in the meeting and providing comments to the committee.
Following this special meeting, the NAIC intends to release the proposed receivership model for public comment and to allow 30 days for interested-party response and comments. Although details concerning scheduling are not yet available, NAIC staff has advised that the committee will thereafter schedule a two-day meeting in mid-July to continue review and discussion of the proposed model. More information concerning the scheduling and location of the meetings will be provided as that information becomes available.
Staff Contact - Joni Forsythe