Bankers Commercial Life Insurance Company (Tex.)
Premiums Disbursed to Affected GAs
NOLHGA has received approximately $538,000 in premium collected for the period June through August of this year by New Era Life Insurance Company on behalf of the guaranty associations. The funds were disbursed to affected guaranty associations on October 4 via wire transfer or check. Please contact Gus Estrada ([email protected] or 703.787.4131) if you have not received the funds. An e-mail memorandum was sent to affected guaranty associations by Paul Peterson highlighting the by-state and by-line-of-business breakdown.
The opt-out deadline for participation in the assumption reinsurance transaction with Philadelphia American Life Insurance Company expires October 25. Guaranty association funding is due November 1, with the initial closing scheduled to occur on November 8. As a reminder, guaranty associations are asked to submit a completed participation certificate to confirm their participation in the transaction with Philadelphia American.
Task Force Chair - William Falck; Staff Contact - Paul Peterson2002 Accounting Guidelines Manual Posted on Web Site
The 2002 edition of the Accounting Guidelines Manual has been posted on the NOLHGA Web site. The file can be found on the password-protected extranet, in the “Special Reports” portion of the NOLHGA Publications section. Changes made to the Manual this year focused on the allocation of investment income to line of business and insolvency; the Manual was also expanded to include illustrations. If you have any questions about the Manual, contact Paul Peterson ([email protected] or 703.787.4119).
Staff Contact - Paul Peterson