October 5, 2018 SeeChange Health Insurance Company (California)

SeeChange Estate Closed

Through a series of orders dated August 30, 2018, the California Superior Court terminated the liquidation proceedings of SeeChange Health Insurance Company, directed final distribution of estate assets, and discharged the liquidator. SeeChange was placed into Conservation on November 18, 2014, and into Liquidation on January 28, 2015. Subsequent to the orders, NOLHGA received a distribution of $3,667,945.47 from the estate to be allocated among affected guaranty associations. This final distribution brings the total recovery percentage for the associations to 40.41%.

SeeChange was the first post-ACA health insurance insolvency dealt with by the guaranty system, and the lessons learned from this case have been applied by guaranty associations in many of the subsequent post-ACA health insolvencies.

Task Force Chair - Janis Potter;   Staff Contact - Joanna Akiyama

Maine GA Announces New Executive Director

The Maine Life & Health Insurance Guaranty Association Board of Directors is pleased to announce that Donald W. Sirois, CPA, CFE, will assume the position of Executive Director of the Maine association effective January 1, 2019. According to a statement from the Board, “Don brings a wealth of education, knowledge, and insurance industry experience to his new position. He will be working in a consulting capacity for the association in the next three months to ensure a smooth transition. Please join us in welcoming Don to his new role.”

  Staff Contact - Sean McKenna

Opening for New Minnesota GA Executive Director

The Minnesota Life & Health Insurance Guaranty Association is seeking a well-qualified candidate to fill the position of Executive Director. The association is a nonprofit insurance industry–supported organization that handles and pays, pursuant to statute, insurance claims of Minnesota residents if their life, health, or annuity insurer becomes insolvent.

The Executive Director is an independent contractor position reporting directly to the Board of Directors. The Executive Director is responsible for carrying out the duties of the association and maintaining adequate professional staffing during times of varying work activity levels. Ability to travel and effectively coordinate activities with other state guaranty associations through a national organization, with insurance receivers, and with regulators is essential.

The candidate must possess insurance and management experience in an insurance company or related setting such as regulatory, legal, or consulting. A background in law, accounting, insurance finance, insurance treasury, and/or actuarial science is desirable, and prior experience with an insurance guaranty association or in a receivership setting is a plus.

Send résumés on or before Thursday, November 15, 2018, to: Joel Glover at [email protected].

  Staff Contact - Sean McKenna