January 2020 MPC Meeting Website Goes Live

The website for the January 14–16 GA Roundtable and MPC meeting in San Diego is now available. Users can register for the meeting and make hotel reservations online.

Schedules for the GA Roundtable and MPC meeting will be posted next month, but for planning purposes, the Roundtable will take place on the afternoon of January 14 and the morning of the 15th, and the MPC meeting will be held on the afternoon of January 15 and all day on the 16th.

If you have any trouble accessing the website, please contact Dan Hicks at [email protected] or 703.787.4112. If you have any questions about the meeting, contact Sean McKenna at [email protected] or 703.787.4106.

2019 Insolvency Cost Information Report Now Available

NOLHGA has issued its annual Insolvency Cost Information Report, which assists member companies in establishing accruals for life, annuity, and health guaranty association assessments pursuant to Statement of Statutory Accounting Principle No. 35R - Revised Guaranty Fund and Other Assessments (finalized March 2000, revised October 2010) and Accounting Standards Codification 405-30, Insurance-Related Assessments (ASC 405-30) (previously known as SOP 97-3 - Accounting by Insurance and Other Enterprises for Guaranty Fund and Certain Other Insurance-Related Assessments (released December 1997 by the AICPA)). The report contains information regarding the cost of insolvencies, assessable premium by state, and summaries of each state’s general assessment and premium tax offset provisions.

These reports have been issued by NOLHGA annually since 1992. This year’s report is available for download from NOLHGA’s website in the Facts & Figures--Insolvency Cost Files section. The report contains the following data files:

Insolvency Costs Workbook: An Excel workbook with individual insolvency cost information along with various summary schedules and premium information by state.

Insolvency Costs Report: A PDF file that includes commentary on various insolvencies along with the schedules from the Costs file. Also included are general assessment and premium tax offset state provisions along with premiums by state.

In addition, there are special attachments dealing with Penn Treaty/ANIC (see 2017 section) and Lincoln Memorial cost estimates.

Summary assessment information (called and refunded) as of year-end 2018 has been included on each insolvency case for use by member companies in their accrual process as they deem necessary. This information is compiled from the annual assessment submissions of each guaranty association. It is not audited by NOLHGA; therefore, NOLHGA will not be able to address any questions that member companies may have on the accuracy or completeness of the information. Those inquiries should be directed to the appropriate guaranty association.

Please note that some of the financial schedules will print in very small text and may be difficult to read. If the text is too small, it might help to set those pages to legal size and print them separately from the rest of the report.