|
Receivers and Guaranty Funds Relation Committee The Receivers & Guaranty Fund Relations Committee (R&GF) holds three meetings a year in conjunction with the NAIC meetings. The R&GF Committee: 2018 Annual Report At the March 2018 and August 2018 meetings, the R & GF heard from Roger Schmelzer about the work of the subgroup he chaired, which was made up of guaranty fund (primarily P&C) and receivership representatives. The subgroup identified common sources of controversy between receivers and GFs during a receivership. They narrowed their focus to two primary areas of friction, which were timely and secure transfer of electronic data between receivers and GFs, and GF expense reimbursement. The subgroup then set aside discussions of GF expense reimbursement to focus on pre-liquidation planning. At the August 2018 meeting, the subgroup discussed a draft Guidelines for Pre-Liquidation Planning, which focused on P&C insurance resolutions. The IAIR Board requested R & GF ask the subgroup to provide it a draft of the Pre-Liquidation Planning document, which would lead with issues current to all receiverships, followed by a break out section for P&C and a placeholder section for L&H and HMO. Roger Schmelzer provided the IAIR Board with the requested draft in August. The IAIR Board has been reviewing the draft and assessing next steps. R & GF will seek input from our receivership and GF community as it sets the agenda for discussions in 2019. R & GF appreciates the significant participation and collaboration of our receivership and GF community.
|