Discount Room Rate for Legal Seminar Expires Monday
The NOLHGA Legal Seminar room rate of $250/night plus tax at the Ritz-Carlton Chicago expires on Monday, June 17. To take advantage of the NOLHGA rate, register online at the meeting Web page or contact the hotel at 312.266.1000 and request the NOLHGA rate.
In other Legal Seminar news, a preliminary agenda has been posted to the meeting Web page. Registration brochures were also mailed this week.
NOLHGA’s 21st Annual Legal Seminar will be held on July 11–12, 2013, at the Ritz-Carlton Chicago (an MPC meeting is scheduled for July 10). Online registration and hotel reservations, as well as other meeting information, are available on the meeting Web page. Please contact Meg Melusen at [email protected] if you have any questions.
Staff Contact - Lumbermens Mutual Casualty Company (Illinois)Assumption Agreement Closes
The Assumption Reinsurance Agreement to move Lumbermens Mutual’s long-term disability (LTD) business to Madison National closed on June 10, 2013. The agreement covered approximately 175 policies, and guaranty association funding was approximately $15 million. Under the terms of the agreement, Madison National will make its first claims payments under the assumed policies when the monthly benefit payment comes due at the end of June (guaranty associations funded the May benefit payments on covered LTD policies).
The task force will provide a report on the agreement at the July MPC meeting in Chicago.
Task Force Chair - Mike Marchman; Staff Contact - Paul Peterson Universe Life Insurance Company (Idaho)Estate Closing
The petition for closing the Universe Life estate and making a final estate distribution was filed on May 24, 2013. A hearing for the closing was held on June 7, with no known issues being raised. The estate has approximately $308,000 in remaining assets and will distribute all remaining funds (after deduction of estate expenses) in the near future to NOLHGA pursuant to a prior agreement in November 2008. With this action, the estate will now be closed.
Task Force Chair - Tad Rhodes; Staff Contact - Bill O'Sullivan