Receivership and Insolvency (E) Task Force
Receivership and Insolvency (E) Task Force Page
Joint Executive (EX) / Plenary Committee Summary Report
Summer 2009 Meeting Summaries Index

The Receivership & Insolvency (E) Task Force met June 14, 2009.

During this meeting, the Task Force:

• Discussed comment letters from interested regulators and interested parties regarding solutions to address concerns with the timing and collection of reinsurance recoverables held by insurers in receivership. Comment letters were received from the following parties: Illinois Office of the Special Deputy Receiver, Utah Special Deputy Receiver, California Conservation & Liquidation Office, International Association of Insurance Receivers, Paragon Strategic Solutions Inc., Reliance Insurance Company (in Liquidation), Reinsurance Association of America, and the Hawaii Department of Insurance.

• Heard status updates on receivership matters, including the following:
• Legislative update provided by Ethan Sonnichsen (NAIC) and Francine Semaya (Nelson Levine de Luca & Horst).
• Communication efforts with Centers for Medicare and Medicaid Services on regulators’ concerns with reporting requirements for insurers in receivership under Section 111 of the Medicare Act provided by David Vacca (NAIC).
• Progress of the IRMA Critical Elements Advisory Group provided by Jim Mumford (IA).

• Adopted the report of the Receivership Technology and Administration Working Group, including the minutes from the May 21 and April 23 meetings.

Action Items:

1. Adopted the report of the Receivership Technology and Administration Working Group