Bankers Commercial Life Insurance Company (Tex.)
RFPs Mailed
Request for Proposal (RFP) packages for the purchase of the BCL blocks of business were mailed to approximately 100 companies this week. The RFP mailing is two weeks ahead of the original work plan, and the tentative timeframe for the bid process is:
Expression of interest from potential bidders: May 1
Due diligence: May 1-31
Bids due: June 14
The RFP provides general background information on the BCL business (in-force counts, annualized premium, rate increases, state information, policy form information, etc.) along with copies of the confidentiality agreement that potential bidders must execute and the assumption reinsurance bid submission package. Due diligence materials and appointments will be held at Milliman USA offices in Houston, where further details regarding the blocks of business (policy-level electronic files, valuation reports, claims history, policy forms, etc.) will be provided.
Unlike packages used in the sale process in past insolvencies, this initial RFP mailing includes the assumption bid submission package. It is hoped that combining these packages (which were usually mailed separately) will generate greater interest and accelerate the normal timeframe for closing an assumption reinsurance transaction.
Task Force Chair - William Falck; Staff Contact - Paul PetersonWeb Site Password Registration Begins
As Phase II of the NOLHGA Web site (www.nolhga.com) redesign begins, additional content continues to be added to the password-protected sections of the site. In an effort to better understand who is using the site (guaranty association administrators, state insurance departments, insurance company personnel, etc.), the site's designers are asking NOLHGA Wire readers and other users of the site to register for individual usernames and passwords.
Users who already have an individual username and password do not need to reregister. However, Wire readers and other site visitors using "nolhga" or "member" as their username when they log in to the site should register for a new username and password so that they can continue to read the Wire.
The registration process is simple. On the NOLHGA Web site, click on the "Inside nolhga.com" section. Once there, select the industry category under which you would like to register. Click on that category, fill out the form, and submit your information. A username and password will be sent to you (provided the submission is approved) within two business days.
Registered users will still receive an e-mail announcement when a new NOLHGA Wire has been posted to the site (no message is sent on weeks when the Wire is not published). When users click on the link in the e-mail message, they will be asked for their username and password. Once these are entered, users will be taken to the Wire.
The effort to track site usage, which will enable site designers to tailor additional content to the needs of various user groups, will begin with the March 29 issue of the NOLHGA Wire. Subscribers are encouraged to register for their new usernames and passwords before then, as the March 29 Wire will be available only to registered users.
Once registered, users can also access back issues of the NOLHGA Wire; simply log in, click on the "NOLHGA Publications" link on the password-protected extranet, and select "NOLHGA Wire" to see an archive of back issues.
Questions about the password process should be directed to Sean McKenna at 703.787.4106 or [email protected]. If you experience any problems with password registration or have questions about your current username or password, contact Candace Jennings at 703.787.4114 or [email protected].
Staff Contact - Sean McKenna2001 Year-End Report Published
NOLHGA's 2001 Year-End Report to the Membership has been published and is now available to the membership. Mailing of the Report, which will be sent to guaranty association Board members and administrators, NOLHGA committee members, and state insurance commissioners, has already begun and is expected to take a week or so.
The 2001 Report is also available on the NOLHGA Web site to users with access to the password-protected extranet (please see "Web Site Password Registration Begins," above, for instructions on how to apply for an individual username and password if you do not already have them). After logging in, click on the "NOLHGA Publications" link and select "Year-End Reports." The 2001 Year-End Report to the Membership has been divided into a number of PDF files to reduce download times, and the contents of each file are listed on the page.
Staff Contact - Sean McKennaNancy Fleisch Joins NOLHGA
Nancy Fleisch has been hired as NOLHGA's new receptionist. Fleisch, who recently moved to Virginia from New Jersey, has administrative and sales experience. Her hours will be Monday through Friday from 9:30 a.m. to 2:30 p.m. Please join us in welcoming her to NOLHGA.
Staff Contact - Sean McKenna