Blog

Court Rules CIGA Not a “Primary Plan” Under the MSP

On October 10, 2019, the 9th Circuit Court of Appeals issued a landmark decision holding that the California Insurance Guaranty Association (CIGA) was not a primary plan under the Medicare Secondary Payer Act (MSP) (CIGA v. Azar, 2019 WL 5076945 (9th Cir., Oct. 10, 2019) (link to 9th Cir. Opinion)). The court’s ruling alleviates CIGA’s […]

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GSI: Data Management Solutions for the Insurance Resolution System

Guaranty Fund Services (GSI)   GSI aims to assist Guaranty Funds with a suite of IT services including: • Cloud hosting We can plan and migrate your entire IT infrastructure to the cloud. • Application Development GSI can automate any existing paper processes in your office including collecting assessment data, proxy voting for your board, […]

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Company Restructuring Statutes Gain Steam in the States- NCIGF Adopts Policy Position

Restructuring statutes, which take the form of either company division statutes or insurance business transfers (IBTs), are gaining steam in the state legislatures. These are statutes that permit an ongoing insurance company to divest itself of certain liabilities, along with a calculated amount of assets, and relinquish any ongoing responsibility for this business. The business […]

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Navigating “The Quiet Times”

(Originally published in the Summer 2019 issue of The Insurance Receiver and is reprinted with the permission of IAIR) A highly charged topic among insurance resolution practitioners is the obvious fact that insurance company failures are at an all-time low.  As a result, inevitable questions are raised about the resources—human and financial– committed to maintaining readiness […]

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Merced Property & Casualty Company: A Deeper Dive (continued story from the 2019 Fall Workshop)

“This is the Essence of What the Guaranty Funds Exist to Do…” – Brad Roeber One of the highlights of the 2019 Fall Workshop was a panel entitled, Disaster Sight: Listening to History for Creative Problem Solving. Among the panelists was Brad Roeber, Executive Director of the California Insurance Guarantee Association (CIGA). Mr. Roeber gave […]

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Michigan Announces New Executive Director

In September, the Michigan Property and Casualty Guaranty Association announced that Jeffery Jenkins would become their new executive director. Their official announcement is below. NCIGF reached out to Mr. Jenkins now that he has begun in the new role and he stated, “I am excited that I have started a new journey in my life […]

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2019 NCIGF Fall Workshop Highlights

The 2019 Fall Workshop took place in New Orleans on October 2-3. The educational event kicked off on that Wednesday at the historic Roosevelt Hotel and featured John Wells welcoming the membership to his home state of Louisiana. After introducing James Donelon, Commissioner of Insurance for the state, Mr. Wells handed things over to Trey […]

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Missouri Executive Director Chuck Renn Recognized at August Board of Directors Meeting

NCIGF hosted its most recent board of directors meeting in Indianapolis last week. Among the board was Charles Renn, Executive Director of the Missouri P&C Insurance Guaranty Association. Mr. Renn attended this meeting not only as the most recent NCIGF past chairman but also marking this as his last ever NCIGF event. He presided over […]

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Louisiana Now Twelfth State to Amend Large Deductible Liquidation Act

On June 4 Louisiana adopted legislation to define how large deductible policies are handled in an insurance liquidation. The new law tracks closely to model language adopted by NCIGF and reflects the NCIGF position that deductible collections and other recoveries are to be remitted at 100% to the guaranty funds to the extent of their […]

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NCIGF Leaders Address Global Resolution Experts in Taiwan

NCIGF Vice Chair Chad Anderson (WGFS) and NCIGF CEO Roger Schmelzer recently returned from the Asian International Forum of Insurance Guarantee Schemes (IFIGS) meeting held in Taipei, Taiwan. Both spoke to a roomful of 150 Public officials and academics from throughout Asia about the value of insurance guaranty funds. Anderson delivered a robust briefing on […]

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Kopp Named New Executive Director of Missouri Insurance Guaranty Associations

Update provided by the Missouri Insurance Guaranty Associations Jefferson City, MO: Tamara W. Kopp has been named the new Executive Director of the Missouri Insurance Guaranty Associations by the Associations’ Executive Committee. Kopp takes the helm on October 1, 2019, when Chuck Renn retires after managing the Associations since 1992. Kopp has spent her legal […]

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D. Keith Bell Tapped as NCIGF Board Chairman

The Board of Directors of the National Conference of Guaranty Funds (NCIGF) has elected D. Keith Bell of The Travelers Companies, Inc., as the NCIGF’s new board chairman. Bell assumed the two-year board chairmanship at the NCIGF’s 2019 Annual Meeting in Chicago on May 1. He has served on the NCIGF board since 2003. He […]

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NCIGF Hosts 2019 Annual Conference in Chicago, IL

The 2019 NCIGF Annual Conference was held in May at the historical and centrally located Intercontinental Chicago. The hotel, situated along the famous Magnificent Mile, was a great spot for NCIGF’s 90+ attendees, special speakers and exhibitors. The conference opened with a welcome from the Director of the Illinois Department of Insurance, Robert Muriel, and […]

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2018 Annual Report

NCIGF released our brand new 2018 Annual Report.  

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U.S. Leads Insurance Policyholder Protection Around the World

(Originally published in the Spring 2019 issue of The Insurance Receiver and is reprinted with the permission of IAIR) On January 1, I began a one-year term as Chairman of the International Forum of Insurance Guarantee Schemes (IFIGS). My colleague at NOLHGA, Peter Gallanis has been involved since the earliest days of IFIGS and I […]

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Insurance Business Transfer Model Bill Takes Center Stage at NCOIL

The National Conference of Insurance Legislators (NCOIL) met in Nashville and spent a good bit of time talking about the very hot topic Insurance Business Transfers (IBT). For many, this was the main event from the meeting. NCOIL is considering a Model IBT Law based on the Oklahoma IBT statute passed in 2018.  Here are […]

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NCIGF Reps Meet with Members of Congress

Recently, a number of NCIGF members, board members and staff took Capitol Hill by storm to do some updating on the state guaranty fund system. Meetings like these are critical, especially after an election year that saw a shift in power in the House of Representatives and the election of 100 new members of Congress, […]

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Encrypted Phishing Email

We received an interesting phishing email attack this weekend – something I had never seen before.  One of the property managers at our building sent a number of us at NCIGF an encrypted email with the subject line: “New Message from your email contact  9801210”.  The body of the email contained an encrypted email message […]

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Company Division Statutes Gain Steam in the States

Company Division Statutes, also known as restructuring statutes or business transfer mechanisms, are gaining steam in the state legislatures. These are statutes that permit an ongoing insurance company to divest itself of certain liabilities, along with a calculated amount of assets, and relinquish any ongoing responsibility for this business. The business divested would be put […]

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UDS 3.0 – JSON Based Layout

The UDS TSG seems poised to take up the task of revising the existing UDS standard. For those not familiar with the layout of UDS, they are fixed width, position delimited files, like you’d typically find on old mainframe type systems. They are not easy to work with and virtually impossible to modify. It’s not […]

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New Year, New Faces

We will see several new commissioners across the country in 2019.  Here is a high-level summary of the commissioner changes, followed by a listing of the NAIC committee leadership for 2019.  New Commissioners: Arizona: Arizona’s Keith Schraad appears to have received a full-blown appointment as Director of Insurance (he had been interim director).  Schraad has […]

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NCIGF CEO ELECTED CHAIR OF GLOBAL POLICYHOLDER PROTECTION GROUP

INDIANAPOLIS, IN, January 14, 2019 – Roger H. Schmelzer, president of the National Conference of Insurance Guaranty Funds (NCIGF), has been selected to serve as chairman of the International Forum of Insurance Guarantee Schemes (IFIGS).  Schmelzer, along with Peter Gallanis, president of the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA), NCIGF’s life […]

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NCIGF Sees Progress at NAIC on LD and Troubled Co Regulation

NCIGF closed out 2018 on a very high note.  Regulators adopted very positive recommendations governing large deductible insolvencies, including that states be encouraged to adopt statutes that grant the receiver the authority to collect deductible recoveries.  If no statute is in place receivers are encouraged to execute an agreement with the guaranty funds to enable […]

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NAIC Chief Endorses Web of Trust

I recently received a report from an international insurance regulatory meeting in which U.S. insurance commissioners were participating.  The urgency and assertiveness of our regulators hit me like a ton of bricks. NAIC president, Eric Cioppa—the Maine director of insurance– opined that cybersecurity regulation cannot be prescriptive, but instead must be principles based because it […]

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My New Year Message To You!

We are trying some new modes of communication this year, so here are a few of my thoughts as we fire up the engines for 2019.

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NCIGF Launches Updated Web Site

I’m pleased to announce that we’ve completed our reorganization and update of the public facing web site.  We’ve taken pains to preserve all of the existing content, but organized in a clearer way with a robust search functionality.  There are a couple of new features I’d like to point out: Search.  There’s a search bar on […]

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NCIGF Releases 4th Quarter Assessment Liability Report

By Amy Clark The NCIGF Accounting department has released the 4th Quarter Assessment Liability Report. Download it by clicking here. The Assessment Liability Report includes – by a statutory account of each property and casualty (P&C) guaranty fund – the maximum assessment (capacity), net assessable premium, actual and projected assessment/refund information, lines of business, recoupment […]

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IT Security – The Next Right Thing

I’m going to speak more generally about our IT security path at NCIGF.  There are a bunch of ways it can be done, some bad, some better than others, but what we did felt very organic in that what we did at each step felt like the next right thing to do. We started with […]

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Business Continuity/Disaster Recovery

I received an email inquiring what a reasonable backup policy would be, given the following issues/constraints: Industry Best Practices; Fear for loss of data and inability to restore/replicate; and Costs associated with backing up data, i.e.  more expensive the more often data is backed up and stored for longer time periods This is a great […]

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Cylance & macOS

**Update** This issue has been resolved. Announcement Cylance is releasing a hotfix to the macOS Agent version 1494 to provide a workaround to keep macOS Mojave endpoints from deadlocking. This workaround disables the Memory Protection and Script Control features on the Agent when macOS Mojave is identified as the operating system running on the endpoint. […]

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