NOLHGA Unveils Redesigned Company Information Section

The Company Information section on the NOLHGA Web site has been redesigned to offer a new interface and many new features. The new section, which is located in the password-protected extranet, compiles a large amount of data on companies in receivership--publications, MPC status reports, financial information, etc.--from all over the NOLHGA site in one easy-to-access location.

Companies in receivership are organized alphabetically on the section homepage. Users can also search for a company by NAIC code, company name, group name, or licensed state. Each company has its own Web page, with information organized into four drop-down menus: Overview (background information on the company and assumption information), Financial Reports (pre-receivership financial information, task force expenses, and a newly redesigned interface for looking up insolvency financial information), Press Room & Publications (year-end reports, news articles, NOLHGA Wire articles, and MPC status reports), and contact information (task force rosters as well as consultant and receiver contacts).

Access to the Company Information section is limited to authorized user groups, and all users must log into the NOLHGA Web site to view it. In addition, access to some confidential information is restricted.

NAIC's E Committee to Vote on Receivership Model

Those who have been following developments with respect to the NAIC's proposed new receivership model have seen much increase in concern across the stakeholder community regarding the substance of many of the recently proposed changes that are being considered for inclusion in the model, as well as the process being employed for consideration and approval of those changes.

The changes that have fueled the most controversy and concern were first released on August 15, 2005, in the form of an 81-page compilation chart. During a two-hour conference call on August 17, E Committee, chaired by Commissioner Alfred Gross (Virginia), began its consideration of these changes and took action to accept or reject several of the changes discussed. Discussion was limited to committee members only during this call. Stakeholders were not permitted to comment or to provide any input on any of the proposed changes. With the cancellation of the NAIC's Fall National Meeting, there has been no official activity by E Committee on the proposed model since that August 17 call until now.

During the week of October 16, NAIC staff advised that E Committee has scheduled a two-hour conference call for October 28 beginning at 1:00 p.m. EDT, during which the committee expects to complete its review of the comments included in the 81-page compilation chart. The October 28 call is open to anyone who would like to dial in, though NAIC staff has indicated that participation by stakeholders in the discussion again will be limited. To join the call, interested parties are required to register in advance with Chorus Call. To register, contact Chorus Call at 800.967.4633 and ask for the "NAIC Gross Call."

Following the October 28 call, NAIC staff expects to incorporate approved changes into a revised draft for release in advance of the in-person E Committee meeting scheduled for November 7 and 8 in Chicago. E Committee expects to consider the revised draft for adoption at that time. Accordingly, it does not appear that E Committee contemplates any public exposure period for the revised draft. NAIC staff has advised that the agenda for the November meeting is still in development, but that the E Committee Chair anticipates much of the meeting will be conducted in open session. The tentative schedule for that meeting is from 1:00 p.m. to 5:00 p.m. on November 7 and from 8:30 a.m. to 2:30 p.m. on November 8. The meeting will be held in the Westin O'Hare at 6100 North River Road, Rosemont, IL 60018. If you would like to reserve a room for that meeting, call 800-WESTIN1.

It is unclear at this point what the timeline will be for further action with respect to the proposed model. To the extent a revised model is adopted by E Committee in November, it would likely then be referred to the NAIC's Executive (EX) Committee and Plenary for consideration in connection with the December NAIC meeting in Chicago.