Bankers Commercial Life Insurance Company (Tex.)
Assumption Reinsurance Opt-Out Period Ends Today
The opt-out period for participation in the assumption reinsurance agreement with Philadelphia American Life Insurance Company ends October 25. Affected guaranty associations are reminded to send a completed participation certificate to Paul Peterson at NOLHGA. Closing of the assumption transaction is scheduled for November 8, and guaranty association funding is due November 1. Philadelphia American, a wholly owned subsidiary of New Era Life Insurance Company, will be assuming all liabilities associated with the Bankers Commercial Life Insurance Company effective September 1.
Task Force Chair - William Falck; Staff Contact - Paul PetersonMPC Briefing Book Posted
The complete briefing materials for the next MPC meeting, which will be held October 30, 2002, at the Monarch Hotel in Washington, D.C., have been posted on the MPC Meeting section of the Annual Meeting Web page.
The briefing materials, which include a meeting and agenda schedule, the attendee list, and status reports for the upcoming meeting, are in PDF format. The document is 66 pages long, and users will need Adobe Acrobat Reader to view and print the materials. Acrobat Reader is available free from Adobe at this link.
Please contact Sean McKenna ([email protected] or 703.787.4106) or Karen Early ([email protected] or 703.787.4101) if you have any questions.
Staff Contact -2001 Assessable Premium Data Ready Next Week
The 2001 assessable premium data should be released to guaranty associations and insurance commissioners on October 31 or November 1. As in past years, the package will include an overview of the assessment data survey process, testing completed on companies’ filings, and state-specific licensed and unlicensed data disks.
Review of the data by guaranty associations is an important step in the process. Please contact Paul Peterson ([email protected] or 703.787.4119) should you have any questions or discover any errors in the data.
Staff Contact - Paul PetersonNo Wire Next Week
Due to NOLHGA’s 19th Annual Meeting, which takes places next week, there will be no NOLHGA Wire next Friday.
Staff Contact - Sean McKenna