NAIC CEO Vaughan to Speak at Legal Seminar

Therese M. (Terri) Vaughan, Ph.D., CEO of the National Association of Insurance Commissioners (NAIC), has agreed to speak at NOLHGA's 2009 Legal Seminar, which will be held on July 9 and 10 at the Ritz-Carlton in Chicago. She is scheduled to present her views on the current debate over state and federal regulation of insurance.

Before joining the NAIC in February 2009, Vaughan was the Robb B. Kelley Distinguished Professor of Insurance and Actuarial Science at Drake University, a position she held since January 2005, following 10 years as Iowa Insurance Commissioner. The longest-serving commissioner in Iowa history, Vaughan also was an active member of the NAIC, completing a term as president in 2002.

In addition to the Legal Seminar, an MPC meeting is scheduled to take place on July 8. More information on NOLHGA's 17th Annual Legal Seminar and the MPC meeting will appear in the NOLHGA Wire and other NOLHGA publications in the near future. If you have any questions about the Legal Seminar or MPC meeting, please contact Sean McKenna at [email protected].

Revised GA Model Act Adopted

On March 17, 2009, the NAIC's Executive Committee and Plenary voted to adopt a revised Life and Health Insurance Guaranty Association Model Act. Among other changes, the revised Model Act includes increases in the coverage limits for annuities (from $100,000 to $250,000) and long-term-care insurance (from $100,000 to $300,000). A copy of the revised Model Act (which has been marked to show changes) is available on the members-only section of NOLHGA's Web site under the Member Resources menu, in the Updating Your GA Act section resource documents. Authorized users will have to log in to access the file.