Arkansas Association Receives Assignment Notice

The Arkansas Life & Disability Insurance Guaranty Association received a letter dated Sept. 18 from Direct General Financial Services, Inc. (DGFS), entitled "Notification of Assignment of Interest in Unearned Premium." The letter states that DGFS finances premiums for life insurance issued by Direct Life Insurance Co. in Arkansas, Florida, Georgia, Louisiana, Mississippi and Tennessee and that in connection with those activities, it had taken an assignment of unearned premium under the policies. The letter also states that DGFS's assignment rights extend to the payment of unearned premium whether such payment is owed by Direct Life Insurance Co. or by the Arkansas guaranty association.

In a response letter dated Sept. 25, the Arkansas guaranty association stated that it had no statutory responsibility with respect to the contractual obligations of solvent insurers, including accepting assignments of those contractual obligations. As a consequence, the association indicated that it was unable to accept DGFS's notification and that it assumed no responsibility for any related assignment.

Weekly Wire Skips a Week

Due to maintenance on NOLHGA's e-mail and computer systems, there will be no Weekly Wire on Oct. 19. The Wire will resume on Oct. 26, with coverage of events at NOLHGA's 18th Annual Meeting and the MPC Meeting preceding it.

The NOLHGA office will be unable to receive e-mail for most or all of Oct. 19. If you wish to reach a staff member, please call him or her directly.

NOLHGA Calendar

A list of upcoming NOLHGA meetings appears below. Please contact the NOLHGA office for more information about these or other meetings.

October 16-18 MPC Meeting & NOLHGA 18th Annual Meeting: Santa Ana Pueblo, N.M.
January 29-31 MPC Meeting: Savannah, Ga.
February 5-6 NOLHGA Board of Directors Meeting: Location to be announced