Imerica Life and Health Insurance Company (Arkansas)

Claims Settlement Agreement Signed and Circulated--Opt-Out Deadline is July 15

On May 16, 2011, the MPC of Imerica affected states passed a resolution approving a Claims Settlement Agreement with the receiver and further authorized execution and circulation of the agreement, subject to a 30-day opt-out process. The Claims Settlement Agreement is designed to resolve certain objections raised by the receiver to the Guaranty Association Omnibus Proof of Claim and otherwise provide for allowance of each participating association's expense and policy-level claims. A copy of that agreement was circulated to affected state guaranty associations on June 15 along with a copy of the resolution and a brief explanatory memorandum.

Please read the memorandum carefully and let us know if you should have any questions. The opt-out deadline is July 15. If you do NOT wish to participate in the Claims Settlement Agreement, you must send notice to that effect on or before July 15. To go forward, we will need 100% participation. If for any reason you are considering opting out, we ask that you please give Joni Forsythe or Andrea Bowers a call to discuss.

Task Force Chair - Andrea Bowers;   Staff Contact - Joni Forsythe

MPC Chair Preference Poll Stage 1 Ballot Distributed--Ballots Due July 29

The Stage 1 ballot for the 2011 MPC Chair Preference Poll was mailed to all guaranty association administrators on June 15. The ballot is due by July 29, and instructions on completing the ballot were included with the ballot. Any administrator who does not receive a ballot within a few days should contact Preference Poll Subgroup Chair Bart Boles at [email protected].

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Rhode Island GA Names New Executive Director

The Rhode Island Life & Health Insurance Guaranty Association has named Margaret Sperry, Esq., as its new Executive Director. Sperry, who replaces former Executive Director Bill Dixon, can be reached at [email protected].

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