Medical Savings Insurance Company (Indiana)
GA Expense Reports Due
The Medical Savings Task Force is collecting information concerning expenses incurred by affected guaranty associations in connection with the Medical Savings 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 survey includes expense information from inception through September 30, 2009.
Expense data should be submitted by affected associations using NOLHGA's online proof of claims survey tool. If your association has not already done so, please complete your submissions at this time. Please advise Gus Estrada ([email protected]) if you have no submissions to report. If you have any questions, please contact Joni Forsythe at 703.787.4103 or Gus Estrada.
Task Force Chair - Dan Orth; Staff Contact - Joni ForsytheNew Financial Services Regulatory Reform Legislation Proposed
On October 27, 2009, the House Financial Services Committee and the Treasury Department released the "Financial Stability Improvement Act"--draft legislation to address the issue of systemic risk and "too big to fail" financial institutions. According to a press release from the committee, the draft bill will create a mechanism for monitoring and reducing the threats that systemically risky firms pose to the financial system, establish a process for winding down large non-bank financial institutions, and overhaul and update the country's financial regulatory system.
The text of the Financial Stability Improvement Act can be found on the House Financial Services Committee's Web site. NOLHGA's analysis of the new legislation will be distributed to members soon.
Staff Contact - Sean McKenna