Diamond Benefits Life Insurance Company (Ariz.)/Life Assurance Company of Pennsylvania (Pa.)
Distribution Received from DBL
The DBL liquidator has made a distribution to NOLHGA on behalf of affected guaranty associations for approximately $3.042 million and to Security Benefit Life Insurance Company for approximately $958,000. These distributions represent $2.5 million in remaining proceeds that the DBL liquidator has received as a result of their litigation efforts along with $1.5 million of other assets remaining in the estate after payment of all higher-level creditors.
NOLHGA anticipates disbursing these funds to affected guaranty associations within the next two weeks.
Staff Contact - Paul PetersonCommissioners Bell & Molasky-Arman to Speak at NOLHGA’s Annual Meeting
Alabama Insurance Commissioner Walter Bell and Nevada Insurance Commissioner Alice Molasky-Arman are both scheduled to speak at NOLHGA’s 21st Annual Meeting, which will be held October 26–27, 2004, at the Four Seasons Hotel Las Vegas in Las Vegas, Nev. More information about the meeting, including a preliminary schedule and online registration, can be found on the meeting Web page (www.nolhga.com/events/main.cfm/location/website). The deadline for meeting registration is September 30.
Commissioner Bell was named state insurance commissioner on January 21, 2003, by Governor Bob Riley. In addition to his role as the state’s chief insurance regulator, he is active in the National Association of Insurance Commissioners, serving on several committees and leading the efforts of the Speed to Market Task Force.
Commissioner Molasky-Arman was appointed commissioner of insurance on January 6, 1995, and she has served longer than any insurance commissioner in Nevada history. Under her leadership, the division has established a reinsurance program for health insurers (a first for Nevada) and developed a public information program to alert consumers to fraudulent insurance activity.
If you have any questions about the Annual Meeting, please contact Holly Wilding at 703.787.4111 or [email protected]. Questions concerning the October 25 MPC meeting should be directed to Sean McKenna at 703.787.4106 or [email protected]. If you have any trouble accessing the Web page, please contact Dan Hicks at 703.787.4112 or [email protected].
Staff Contact -Updated Washington GA Brochure Available Online
On September 1, 2004, the Washington Life and Disability Insurance Guaranty Association updated its informative brochure entitled “Protection for You and Your Insurance Policy.”
The document is now available online in two formats, both of which can be found by clicking “view all documents” at the bottom right of the guaranty association’s home page at www.walifega.org. One format is designed as a flyer to print on the front and back of standard letter-size paper; the other is intended as a folding brochure to be printed on the front and back of legal-size paper.
The Washington Life and Disability Insurance Guaranty Association developed this information sheet for the purpose of generally informing the public of the protections offered by the guaranty association, and has granted its member companies permission to reproduce and distribute the brochure.
Staff Contact -