MPC Meeting Materials Posted

The meeting materials for the July 2019 MPC meeting in Boston have been posted on the Legal Seminar/MPC meeting website. Users will need to log in after clicking on the link to access the file, which can be found in the “Meeting Resources” section.

As a reminder, the meeting will feature an Insolvency Briefing from 2:00 p.m. to 4:00 p.m., with reports from the Penn Treaty/ANIC, Lincoln Memorial/Memorial Service, Northwestern National, North Carolina Mutual, and AF&L/SAIC task forces. If you plan to attend the briefing but have not yet RSVP’d, please do so by sending a message to Sean McKenna.

The meeting materials include a revised meeting schedule along with the attendee list and other information (task force status reports will be distributed after the meeting). The file is in PDF format. If you have any trouble accessing the meeting website or materials, please contact Sean McKenna at [email protected] or 703.787.4106.

  Staff Contact - Sean McKenna Thunor Trust Companies

Final Distributions Made from Franklin Protective Life Estate

On June 20, 2019, the Mississippi receivership court entered an order approving final distributions from the estate of Franklin Protective Life, including a distribution to the affected guaranty associations in the amount of $316,862.26. The funds were wired to NOLHGA on June 21 and will be distributed to affected associations next week. With this distribution, affected associations will have recovered 100% of their Class 1 claims and 27.75% of their Class 2 claims. No further distributions are expected.

The receiver is working to wind down and close this estate very soon. He will then turn his attention to preparation of closing accounting for the last remaining Thunor company in liquidation in Mississippi—First National Life Insurance Company of America.

Task Force Chair - John Colpean;   Staff Contact - Joni Forsythe

Florida GA Seeks Executive Director

The Florida Life & Health Insurance Guaranty Association is seeking a well-qualified candidate to fill the position of Executive Director. The association is a nonprofit insurance industry–supported organization that handles and funds, pursuant to statute, insurance claims of Florida residents if their life, health, annuity, or long-term care insurer becomes insolvent.

The Executive Director is an independent contractor position reporting directly to the Board of Directors. The Executive Director is responsible for carrying out the duties of the association and maintaining adequate professional staffing during times of varying work activity levels. Ability to travel and effectively coordinate activities with other state guaranty associations through a national organization, with insurance receivers, and with regulators is essential.

The hire date is anticipated to be January 1, 2020, with a reasonable transition period.

Candidate requirements:

• Significant experience in the life or health insurance industry or a related setting, such as regulatory, legal, or consulting
  
• A background in insurance, law, accounting, finance, and/or actuarial science is desirable
  
• Prior experience with an insurance guaranty association or in a receivership setting is a plus
  
• Ability to work with other state guaranty associations, the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA), and regulators
  
• Capable of managing day-to-day operations as an independent contractor
  
• Ability to administer operations in accordance with policies and procedures adopted by the association
  
• Ability and willingness to participate at the national level: NOLHGA, NAIC, IAIR, etc.

Please send all responses and résumés to Frank O’Loughlin, Lewis Roca Rothgerber Christie LLP, 1200 17th Street, Suite 3000, Denver, CO 80202 or by email to [email protected] by July 15, 2019.

  Staff Contact - Sean McKenna