Illinois Insurance Director to Speak at Legal Seminar
Michael T. McRaith, Director of the Illinois Division of Insurance, has agreed to speak at NOLHGA's 16th Annual Legal Seminar in Boston in July. He will participate in a roundtable discussion of insurance regulatory modernization.
Prior to his appointment as Director three years ago, McRaith practiced as a commercial litigator in Chicago for 15 years, with an emphasis on legal matters involving regulated institutions including the insurance industry. In his current role as Director, McRaith holds a number of committee positions with the NAIC, including Chairman of the Health Innovations Working Group, Vice Chairman of the Property and Casualty Insurance Committee, and Chairman of the Industry Liaison Committee. He also serves on the Senior Issues Task Force, Market Regulation and Consumer Affairs Committee, Reinsurance Task Force, Climate Change and Global Warming Task Force, Senior Issues Task Force, and NAIC Audit Committee. McRaith received his law degree from Loyola University School of Law in 1990 and a B.A. from Indiana University in 1986.
NOLHGA's 2008 Legal Seminar will be held July 17-18 at Boston's Fairmont Copley Plaza Hotel (a NOLHGA MPC meeting will take place on July 16). Hotel reservations can be made by calling 617.267.5300, and a special rate of $219/night is available for the entire week and weekend (a few smaller, single rooms are available at $209/night).
Staff Contact - Executive Life Insurance Company (California)Aurora Defeasance Calculation Distributed
On March 18, 2008, NOLHGA distributed Aurora's defeasance calculation to the ELIC participating guaranty associations. Prior to 2002, the schedule was followed by an agreed-upon procedures report from Arthur Andersen. At the January 2002 MPC meeting, the task force voted to forgo the annual review of the defeasance calculation. Accordingly, there will be no analysis of these schedules by Navigant Consulting. Any participating guaranty association considering defeasing should contact NOLHGA. As previously reported, the ELIC Task Force is in the process of updating its 1996 report on defeasance.
Task Force Chair - Art Dummer; Staff Contact -