Lincoln Memorial/Memorial Service Life Insurance Companies (Texas)
Assumption Funding Due October 25
As a reminder, funding for the assumption reinsurance transaction with Liberty Bankers/The Capitol Life Insurance Companies is due October 25, 2017. Final funding amounts and payment instructions were sent to the guaranty associations on October 5 via e-mail from Paul Peterson. The e-mail also contained the promissory note to use for those guaranty associations that need to utilize that funding option.
The initial closing for the transaction is still on schedule for November 1.
Task Force Chair - Tad Rhodes; Staff Contact - Paul PetersonOhio GA Seeks New President
The Ohio Insurance Guaranty Association (OIGA) is seeking a well-qualified candidate to fill the position of president. The OIGA is a nonprofit, insurance industry–supported organization that handles and pays the insurance claims of Ohio policyholders if their insurer becomes insolvent. It also provides similar services under contract for two other guaranty associations: the Ohio Life & Health Insurance Guaranty Association and the West Virginia Insurance Guaranty Association.
This is the chief executive officer position, reporting to the Board of Directors. The president is responsible for supervising staff in carrying out the duties of the association and maintaining adequate professional staffing during times of varying work activity levels. Ability to effectively coordinate activities with other state guaranty funds through national insurance guaranty organizations and with insurance liquidators is essential. Some travel required. The office of the association is located in Columbus, Ohio.
Candidate must possess substantial insurance and management experience in an insurance company or related setting such as regulatory, legal, or consulting. Desired, but not required, is a background in law or accounting and/or substantial supervisory claims experience in property casualty and life and health claims. Prior experience in an insurance guaranty fund or insurance liquidation setting is a plus.
Salary and benefits package is comparable to local insurance industry standards for positions of similar responsibility.
Please send résumés accompanied by cover letter by regular mail or e-mail to:
June Edge, Interim President
Ohio Insurance Guaranty Association
5005 Horizon Drive, Suite 200
Columbus, OH 43220
[email protected]
New Virginia Insurance Commissioner Appointed
Scott A. White has been appointed to serve as the new Virginia Commissioner of Insurance. He replaces Commissioner Jacqueline Cunningham, who will retire at the end of the year after eight years as Commissioner.
White currently serves as the Deputy General Counsel for Financial Services in the State Corporation Commission’s Office of General Counsel. He has been with the Commission for 18 years in a variety of positions.
Staff Contact - Sean McKenna