Legal Seminar Hotel Reservation Deadline Extended
The hotel reservation deadline for NOLHGA's 2009 Legal Seminar, which will be held July 9 and 10 at the Ritz-Carlton Chicago, has been extended from June 8 to June 15. After this deadline passes, the hotel will release NOLHGA's room block and there is no guarantee that rooms will be available or that the NOLHGA room rate of $215/night plus tax will apply.
Attendees will find hotel information as well as online registration, the seminar program, and other meeting information on the meeting Web page. If you have any questions about the Legal Seminar or the July 7-8 MPC meeting that precedes it, please contact Sean McKenna at [email protected].
Staff Contact - Sean McKennaMPC Meeting Preliminary Schedule Posted
The preliminary schedule for the July 2009 MPC meeting in Chicago has been posted on the meeting Web page. The file can be found in the Meeting Resources section.
The schedule is in PDF format, and users will need Adobe Acrobat Reader to view and print the file. Acrobat Reader is available free from Adobe. If you have any trouble accessing the meeting Web page or schedule, please contact Dan Hicks at [email protected] or 703.787.4112. If you have any questions about the meeting, contact Sean McKenna at [email protected] or 703.787.4106.
Staff Contact - Sean McKennaNAIC June Meeting Preview
The NAIC's Summer National Meeting will be held in Minneapolis from June 11-16, 2009. Activities related to receivership and guaranty association issues include the following:
The NAIC's Alternative Restructuring Mechanisms for Troubled Companies Subgroup will meet on June 12 to continue its review and discussion of a draft whitepaper on troubled company restructuring mechanisms. The most recent draft of this whitepaper was released on May 29, though an update is expected in advance of the meeting. NOLHGA, the NCIGF, the ACLI, and many industry and trade groups have been monitoring this project, participating in subgroup meetings and conference calls, and have submitted written comments noting serious concerns with respect to many of the "alternative" restructuring mechanisms being addressed.
On June 13, the Life Insurance and Annuities (A) Committee's Annuity Disclosure Working Group will meet to discuss proposed changes to annuity illustrations and disclosures, including disclosure of guaranty association coverage. At the request of the group, NOLHGA and the ACLI have worked together to develop a proposed model template that could be used for purposes of guaranty association disclosures. A copy of the proposed disclosure template is available upon request (please contact Aimee Hoffman at [email protected]).
Also on June 13, the NAIC's Financial Regulation Standards and Accreditation Committee (FRSAC) will meet and discuss comments received on the 2008 revisions to the Hazardous Financial Condition Model Regulation. The committee will vote, for purposes of accreditation standards, on the 2006 revisions to the Risk-Based Capital Model Act, the 2006 revisions to the Annual Financial Reporting Model Regulation, and the NAIC's 2005 Insurer Receivership Model Act (IRMA).
On June 14, guaranty association administrators and staff can begin their morning at the NOLHGA/NCIGF joint Guaranty Fund Managers Forum. The forum will begin at 7:00 a.m. in the "Marquette IX" meeting room and will include a warm buffet breakfast. For those planning to attend, your R.S.V.P. is requested by June 9.
The Receivership and Insolvency (E) Task Force (RITF) meets immediately after the forum and will receive status reports with respect to various pending projects, including a report from the IRMA Critical Elements Advisory Committee.
We also note that the Government Relations Leadership (EX) Council is expected to meet on June 15 to discuss updates on current proposed and pending federal insurance-related legislation and issues, including developments with respect to a systemic risk regulator, systemic resolution authority, an optional federal charter, and producer licensing reforms.
The final NAIC agenda has been posted to the NAIC Web site. The IAIR meeting agenda has also been posted and is available online at www.IAIR.org.
Staff Contact - Joni Forsythe