Assessment & Capacity Reports Posted on NOLHGA's Website
Updated versions of NOLHGA’s annual Assessment and Capacity Reports have been posted on the Facts & Figures--Assessment Data section of the NOLHGA website.
NOLHGA annually compiles information from guaranty associations on assessment activity--whether assessed, called (billed), or refunded. This information is used to generate various reports reflecting capacity or assessment activity (amounts assessed, called, or refunded) by insolvency, state, year, or account. Please note that all amounts are in thousands.
The reports cover the period from 1988 to 2013 and contain assessment information on approximately 200 insolvent companies. If any guaranty association personnel note an error in the data, please submit corrected information to Paul Peterson at [email protected] or 703.787.4119.
Staff Contact - Paul Peterson2014 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 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:
Costs: An Excel workbook with individual insolvency cost information along with various summary schedules and premium information by state.
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 and Lincoln Memorial cost estimates.
Also, summary assessment called and refunded information 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.
Staff Contact - Paul Peterson Former NOLHGA Board Member Mallon to Retire from AIG LifeJames Mallon, former NOLHGA Board member and President of Life Insurance with AIG Global Consumer Insurance, will retire in March 2015. He leaves after 10 years with the company and over 40 years in the life insurance industry. He served on the NOLHGA Board from 2011 to 2013.
Staff Contact - Sean McKenna