September 2011 MPC Meeting Dates Announced
NOLHGA's September 2011 MPC meeting will be held at the Hyatt Regency Reston in Reston, Virginia, from September 7-9. The other 2011 MPC meetings will be held on January 10-12 in Coral Gables, Florida; April 4-6 in San Antonio, Texas; July 19 and 20 in San Francisco (these dates are tentative); and October 10 in Chicago. More information about these upcoming meetings will appear in future issues of the NOLHGA Wire.
Staff Contact - De GaddMPC Meets in Seattle
The Members' Participation Council (MPC) met in Seattle on October 4, 2010, in conjunction with NOLHGA's 2010 Annual Meeting. Task force meetings were held for National States Insurance Company (Missouri) and Universal Life/Booker T. Washington Insurance Companies (Alabama). During the General Session, the MPC adopted security procedures for multi-state insolvencies recommended by the Life & Annuity Privacy Working Group led by Chair Candie Kinch (Idaho).
The following task force insolvency reports were presented during the MPC General Session:
Staff Contact - Sean McKenna American Community Mutual Insurance Company (Michigan)Task Force Chair Frank Gartland (Ohio) updated attendees on the receiver's efforts to manage the company's business and operations, including claims handling. The receiver has also moved to suspend agents' commissions. The task force recently reviewed the company's claims and IT operations.
Task Force Chair - Frank Gartland; Staff Contact - Bill O'Sullivan National States Insurance Company (Missouri)Task Force Chair Randy Blumer (Wisconsin) reported that an assumption agreement for the company's Medicare Supplement business was filed with the court, with a hearing scheduled for October 8, 2010. Efforts to move the company's life, health, and long-term-care business are ongoing.
Task Force Chair - Randy Blumer; Staff Contact - Paul Peterson Penn Treaty Network America/American Network Insurance Companies (Pennsylvania)Task Force Chair Chuck Gullickson (South Dakota) and Legal Counsel Caryn Glawe (Baker & Daniels) discussed the status of the pending liquidation proceedings and relevant steps that might be taken by guaranty associations to prepare for the contingency of possible liquidation orders for the companies. After discussion, the MPCs for both companies unanimously passed a resolution authorizing certain measures to prepare for the contingency of liquidation orders.
Task Force Chair - Chuck Gullickson; Staff Contact - States General Life Insurance Company (Texas)Task Force Chair Tad Rhodes (Oklahoma) conducted the final report on this insolvency, reporting that the task force has received a distribution of just over $1 million. The funds will be disbursed to affected guaranty associations by year-end, and the estate will soon be closed.
Task Force Chair - Tad Rhodes; Staff Contact - Joni Forsythe Imerica Life and Health Insurance Company (Arkansas)GA Expense Data Due November 1
The Imerica Task Force is collecting information concerning expenses incurred by affected guaranty associations in connection with the Imerica Life and Health Insurance Company insolvency. The expense data will be used for purposes of reporting and for submission of an Omnibus Proof of Claim for this case. Our current survey includes expense information for the reporting period inception through September 30, 2010. The Omnibus Proof of Claim is due no later than December 3, and the task force expects to submit guaranty association expense information as of September 30 in advance of that deadline. To that end, we ask that you please update your guaranty association expense data no later than November 1.
Expense data should be submitted by affected associations using NOLHGA's online proof of claim survey tool. Note: Please advise Gus Estrada if you have no submissions to report. If you have any questions regarding the online proof of claim survey tool, please contact Gus Estrada. With all other questions, please contact Joni Forsythe at 703.787.4103.
Task Force Chair - Andrea Bowers; Staff Contact - Joni Forsythe