American Chambers Life Insurance Company (Ohio)
GA Expenses Due June 30
Last month, NOLHGA requested that affected guaranty associations report their inception through December 31, 2002, financial information as it relates to claims and expenses paid in connection with the insolvency of American Chambers Life Insurance Company. Each affected guaranty association received a memorandum by e-mail requesting that claims and expense data be submitted via the NOLHGA Web site's proof of claims system by June 28, 2003. That deadline has been extended to Monday, June 30.
To ease the burden on the guaranty associations, the memorandum was supplemented with exhibits outlining "known" expenses incurred in connection with Antares's claims handling, the Madison National assumption of life policies, and cumulative NOLHGA quarterly MPC insolvency expenses. These amounts were not to be reported using the proof of claims system, but instead confirmed by facsimile to NOLHGA on the form included with the memorandum. If there are any questions, please contact Meg Melusen or Gus Estrada at 703.481.5206.
Task Force Chair - Chuck Gullickson; Staff Contact -NAIC President Pickens to Speak at NOLHGA's Annual Meeting
NAIC President and Arkansas Insurance Commissioner Mike Pickens is scheduled to speak at NOLHGA's 20th Annual Meeting this fall. Pickens, who was interviewed in the Spring and Summer 2003 issues of the NOLHGA Journal, will provide attendees with an overview of the NAIC's efforts to revamp state regulation of insurance and will offer his perspective on the major issues facing the insurance industry, regulatory community, and guaranty system.
NOLHGA's 20th Annual Meeting, which will be held on October 28 and 29, 2003, at the Four Seasons Resort & Club Dallas at Las Colinas in Irving, Tex., will also feature presentations on topics such as the impact of the capital markets on the insurance industry, the role of ratings agencies, variable annuities, and more.
A meeting of the Members' Participation Council will precede the Annual Meeting on October 27. Information on other speakers and details about the 20th Annual Meeting will be available in the coming weeks.
Staff Contact - Sean McKennaNo Wire Next Week
There will be no NOLHGA Wire next week (July 4). In addition, the NOLHGA office will close at 3:00 p.m. on July 3 for the July 4 holiday. The NOLHGA staff wishes everyone a happy Independence Day.
Staff Contact - Sean McKenna