October 7, 2011 Legion/Villanova Insurance Companies (Pennsylvania)

Distribution Received

NOLHGA recently received a distribution for approximately $261,000. This distribution will bring total recoveries in the Legion/Villanova case to $3.4 million, representing approximately 69% of total claims and expenses incurred by the guaranty associations. We anticipate distributing these funds in the near future.

Task Force Chair - Peter Leonard;   Staff Contact - Paul Peterson

Guaranty Association Law Summaries Updated on NOLHGA's Web Site

NOLHGA has updated its state guaranty association law summary reports through September 1, 2011, to reflect legislative changes that took effect this year. Six states updated their guaranty association statutes so far in 2011 to reflect recent changes in the NAIC Life & Health Insurance Guaranty Association Model Act.

To review the changes, the GA Law Summaries page is available under Facts & Figures on the homepage of NOLHGA's Web site; it is also accessible under the Member Resources section in the members-only portion of the site. Users can generate individual state reports by choosing from the "Law Summaries by State" drop-down menu. Alternatively, the summaries can be viewed and printed by selecting a specific report from the "Law Summaries by Provision" drop-down menu, which lists all states by topic. Finally, the GA Law Summaries page provides users with state guaranty association contact information as well as links, where applicable, to the state guaranty association's Web site and the corresponding state insurance department's site. Changes or corrections should be submitted to Meg Melusen.

  Staff Contact -