NCIGF 2024 Fall Workshop Highlights: Savannah’s Southern Charm

November 21, 2024November 21, 2024 Robin Webb Leave a comment

The NCIGF Fall Workshop was held on November 13-14, 2024. The event took place in the charming city of Savannah, Georgia at the historic DeSoto Hotel nestled between city squares in the heart of downtown. It quickly became clear that the theme of the event would be focused on the positive, respectful, and inclusive culture within the community. Tim Schotke (IL) emceed the first day of the workshop and kicked off the event by sharing that the NCIGF Board of Directors had adopted and approved a Kindness & Respect Statement the day before. Mr. Schotke then shared a brief excerpt from that larger statement.

The audience received a true Southern hospitality welcome from the home state Executive Director, Frank Knighton (Georgia Insolvency Pool). Mr. Knighton not only added his own comments about hospitality and the beautiful state, but also included comments about mutual respect within the community, wrapping up with this sentiment, “Let’s all settle in and enjoy this great workshop.” The kindness sentiment continued when our current board vice chair, Brad Roeber (CA), welcomed the community, reflecting on the policyholders we serve and added, “We need to be serving each other, too.”

The day moved on with the first panel from the NCIGF DEI Subcommittee entitled Leveraging Training and Vendor Relationships. This panel was centered around including DEI efforts when utilizing vendors and building those important vendor relationships. The panelists also focused on building a deeper bench within guaranty fund offices throughout the country via training efforts – creating a deeper bench of insurance professionals and even looking at cross-training employees to create well-rounded employment opportunities.

Deemed “Law and Order: SIU” by emcee Tim Schotke, the second panel featured several insurance investigators sharing about how the community can better serve policyholders by weeding out bad actors who may be taking advantage of the system.

Next, a speaker specializing in leadership coaching, Alyssa Dueck, spoke on a relevant topic to the group: Leading and Growing Leaders in Small to Mid-Sized Organizations where she discussed “closing the growth gap” for leaders and their employees. An interactive session with much feedback from audience participants, Ms. Dueck wrapped up with several reflection questions.

The second half of the day featured Roger Schmelzer’s President’s Report focused on business and budgetary plans for 2025. Mr. Schmelzer then introduced his long-time friend, Neil Alldredge, President & CEO of the National Association of Mutual Insurance Companies (NAMIC) in a friendly conversation between former colleagues. Mr. Alldredge presented the simple facts about the challenging and ever-changing insurance industry. Along with price increases, population growth and those taking advantage of the system, he covered all topics that have contributed to what he deemed A New Era of Risk. He stated, “The risks that insurers are underwriting is changing… Everything we insure is more expensive.”

Roger Schmelzer (NCIGF) & Neil Alldredge (NAMIC)

The day then wrapped with Mike Ulmer and Roger Schmelzer discussing the creation of a NCIGF claims system, taking much time for Q&A from the audience. Mr. Ulmer noted that the claims system would be FOR the guaranty fund system specifically and would include cloud-based resilience and security with a long-term vendor commitment via GSI. “Member participation is essential to the success of the product.” – Mike Ulmer

Day two of the conference was kicked off in a SUPER way with none other than Captain Marvel welcoming the group! Lisa Pratt (our very own Captain Marvel from Pennsylvania) stepped into her emcee duties as any superhero would, and it left everyone prepared for a day engaged with all of our guaranty fund heroes, beginning with crisis communications expert Kerry Nations from Tennessee.

Mr. Nations presented on some very practical steps when working with the media or answering questions from news outlets when dealing with insurance insolvency information. This was presentation two of three for Mr. Nations and he, once again, focused on his three pillars of communication: Prevent, Prepare, and Promote. This led directly into the next presenter, Scott Hawkins, from Conning Inc., who shared very insightful information about their research regarding the insurance industry focused on the economy, technology, climate, and other topics. Mr. Hawkins discussed several changes in the risk profile that may affect the industry in the future. After a brief break, long-time friend of the guaranty fund community, Eric Hovey (Payden & Rygel) dove into post-election economics and how the potential impact on the insurance industry long-term.

And ironically winding down the conference was a topic entitled Winding Down an Insolvency that featured great information and presenters whose job it has been to work on the tireless process of winding down a legacy insolvency that has stretched out 10+ years.

The workshop was well-attended with record participation, boasting the largest NCIGF event post-COVID with over 105 attendees, guests, speakers and exhibitors traveling to Savannah, GA to take part. This event also marked the end of NCIGF’s 35th Celebration – the reception at the conclusion of day one reflected that celebratory mood, inspiring a party atmosphere with 35th branded cookies, balloons, and a photo booth for attendees. It was a great way to close 2024 with the community and, once again, commemorate “Supporting Policyholders for 35 Years.” For more information on all NCIGF events, click here.

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Columbus was a Homerun for the 2024 NCIGF Annual Conference

May 10, 2024May 10, 2024 Robin Webb Leave a comment

The NCIGF member community gathered in Columbus, Ohio last week for the Annual Meeting of Members and the 2024 Annual Conference. Nestled beautifully in the heart of the mid-west, Columbus boasted a beautiful hotel, vibrant downtown and lovely surroundings for the NCIGF meetings, with a homebase for the week established at the Hilton Columbus Downtown. Prior to the meeting kickoff, the Ohio Guaranty Fund hosted a night at the Clippers ballpark where members enjoyed nearly perfect weather and a wonderful time of fellowship just a few blocks from the hotel.

Day one of the conference began with the Annual Meeting of Members where Joe Torti (Fairfax) ran an efficient business meeting. Several board members were elected for another three-year term including Keith Bell (Travelers), Kim Decker (Farmers), Elise Spriggs (Liberty Mutual), Smitty Harrison (SC), Neil Jackson (State Farm), Tamara Kopp (MO) and Barbara Law (GFMS).

John Wells (LA) led the membership through day one of the educational agenda, with Melanie Kolp from Nationwide walking just a few steps across the street from the Nationwide headquarters to give an incredibly informative and interesting presentation on Generative A.I. This topic is heavy on the minds of many in the insurance industry and her guiding principle, “automate the ordinary and humanize the extraordinary”, left the group with much to consider. Day one also featured a relevant panel on CMS Litigation and another featuring thought leaders on international matters on the Resolution Planning and Preparedness panel. Later in the afternoon, Barb Cox (Barbara Cox, LLC), Rowe Snider (Locke Lord) and Daniel Lewallen (Faegre) presented on NCIGF Initiatives at the NAIC, a topic that has been broached several times over the past few years within the community. They gave a high-level summary of all of that recent work and took several follow-up questions from the audience with Daniel stating, “…the ‘roll up your sleeves and get to work’ phase with NAIC is ongoing.”

Melanie Kolp from Nationwide presents on Generative A.I.

Roger Schmelzer gave his President’s Report which featured specifics on the “2025+” Strategic Plan, going into detail on the three main objectives of the plan: 1. Preliquidation planning: implementation and execution 2. Reducing readiness risk: preparing for the changing face of insolvencies 3. Leveraging community: shared solutions to common problems. As he went through the timeline of how we got to this place, he noted, “Everyday NCIGF works to balance leadership and service.” Following the plans’ adoption by the NCIGF board the previous day, Mr. Schmelzer laid out the next few steps beginning with member communication and stakeholder outreach. He wrapped up his thoughts with a commendation to all in attendance to remember not only why we do what we do, who we are doing it with (each other) but also who we’re doing it for (the policyholders).

That evening as the community was taking time for connection and fellowship at the reception, the Gates Marchman award was presented. Barbara Cox, who has been part of the guaranty fund system since 1993, was the esteemed recipient and the membership honored her with ongoing and heartfelt congratulations throughout the evening. Barb was also recognized the day before at the NCIGF board meeting as well. For additional NCIGF board highlights from the April 30, 2024, meeting, please click here.

Barbara Cox receives 2024 Gates Marchman Award

Day two of the conference featured newly elected NCIGF Education Committee chair, Corey Neal (FL), as the emcee, taking the group through the half-day agenda. Kerry Nations (TN) kicked off the presentations with an important topic for all fund managers, Crisis Communication.

The DEI Committee featured a panel on the Members Mentoring Members (M3) program, featuring two mentee participants. DEI Subcommittee chair, Doug Fahringer, moderated the panel and Neil Jackson (State Farm) and Tamara Kopp (MO) shared their experience participating as mentees in the program. If you would like to be part of the next M3 cohort, please find out more on the active page on MemberConnect which also includes more information about the purpose of the program as well as expectations and resources for the mentor/mentee pairs.

Day two also featured a panel entitled, The Detection of Tech-Enabled Claim Instigation featuring Joseph Petrelli of Demotech and JJ Dimond of 4WARN. The statutory defenses panel featured an interactive session, allowing all of the conference attendees to battle it out in the form of a trivia game about that particular topic. Vicky Graves (OR) and Jeff Scott (GFMS) were the game show hosts and included Rowe Snider for additional explanation and information when giving the answers. Moe Azaran (CA) was the big winner, but it was really a win for all with a fun last panel to wrap up the conference.

Corey Neal thanked the NCIGF Education Committee members as well as the NCIGF staff in his closing remarks at the event. Education Committee Members include:

Corey Neal (chair)

Cathy Bazant Amanda Barbera Chad Anderson

Arthur Russell Barry Miller John Wells

Kerry Nations Lisa Pratt Rick Vasil

Tom Souder Valerie McGregor Emily Jurey (NCIGF Staff)

Watch the 2024 NCIGF Annual Conference Video Highlights🎥

The next NCIGF event will be the IT Summitt this summer on July 10-11 in Chicago and the NCIGF 2024 Fall Workshop will take place in Savannah, Georgia on November 13-14. For more information on NCIGF events, please go to: ncigf.org/events.

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*Note – some links are to Members Only site and cannot be accessed by non-members.

2023 NCIGF Legal Seminar Highlights

June 29, 2023June 29, 2023 Emily Jurey Leave a comment

The 2023 NCIGF Legal Seminar took place in Minneapolis, Minnesota on June 21-22 and focused on topics of current and perennial interest to attorneys, guaranty fund managers and insurance insolvency professionals. This was the first in-person Legal Seminar since June 2019 due to the COVID-19 pandemic. The event was well attended, and the meeting spaces were uniquely held on the 50^th floor of the hotel, offering a beautiful view of Minneapolis.

Howard Glick, general counsel from the Alabama Insurance Guaranty Association and chair of the legal seminar task force, emceed the seminar where he, Robert Farber, executive director of the Minnesota Guaranty Association and NCIGF President & CEO, Roger Schmelzer, welcomed everyone to Minneapolis. As part of his opening remarks, Roger stated: “There is more work to do to secure the public policy foundation of the property and casualty state guaranty fund system. Meetings like these of our members and stakeholders demonstrate how seriously we take this responsibility to consumers, regulators, and industry.”

Executive Director of the Minnesota Guaranty Association, Robert Farber.

Kicking off day one was a panel on receivership and insolvency opening with a discussion on the importance of relationship building between receivers and guaranty associations, followed by a panel that included experts on reinsurance. The reinsurance group provided an overview of the topic and discussed the progression of reinsurance obligations throughout an insolvency, and the first half of the day rounded out with a panel discussing legal obligations when implementing Diversity, Equity, and Inclusion (DEI) initiatives. The overall feeling was that the DEI topic was helpful and timely because companies are currently dealing with recruiting and retention issues and focusing on building an environment that makes employees feel welcome. Doug Fahringer from Pennsylvania remarked that everyone can have a seat at the table noting, “DEI can add [a letter] ‘B’ because I now feel like I belong. Just because you give up your seat for me does not mean you are giving yours away.”

An early registration raffle took place before the group broke for lunch and Vicki Graves, claims manager from the Oregon Insurance Guaranty Association, won a pair of tickets to the Minnesota Twins vs. Boston Red Sox baseball game that evening! Following lunch, the afternoon offered panels that included discussions on model act updates, bar date issues and wrapped up strongly with a presentation entitled, Issues that Evolve from the Modernization of the Workplace. The modernization panel sparked discussion and engaging questions on moving forward in the digital age of a hybrid workplace and the legal and operational challenges and obstacles that go along with those new workflows.

The energy and momentum of the educational topics continued into day two, with four thought-provoking panels covering updates on case law impacting guaranty associations, legal issues that occur as an insolvency is winding down, guidance for effective negotiations in insurance regulatory and receivership work, and a case study in ethic issues arising from unauthorized claims.

Robert Farber, specifically echoing John Wells (LA) from the 2023 NCIGF Annual Conference, said that his hope was that the great content from the panels, presentations and discussion that took place over the two days in Minneapolis would be carried back to people’s respective states and shops to help improve the system for the future, adding, “We are all leaders of our organization.”

Ashley Rosenberger, NCIGF Senior Legal Counsel, summed the event up by stating: “The Legal Seminar came together wonderfully thanks to the hard work of the legal seminar task force, speakers and so many others. Seeing this educational agenda come to life and experiencing the collaboration and energy that surrounded this event in Minneapolis was incredibly rewarding.”

A huge thank you to the Legal Seminar Task Force, presenters, panelists and our event sponsors, Faegre Drinker, Amery, Bressler & Ross and Locke Lord.

NCIGF will host a stand-alone board meeting in Indianapolis on August 30^th and 31^st followed by the final conference of the year, the 2023 Fall Workshop in Phoenix Arizona on November 15^th and 16^th. For more information on future NCIGF events, click here.

Celebrating Diversity: An interview with Doug Fahringer

June 1, 2023June 1, 2023 Robin Webb Leave a comment

June marks Pride month, a time to celebrate the progress and contributions that have been made in the US and globally by the LGBTQ+ community. In celebration and recognition of the month, NCIGF Director of Communications, Engagement, & Culture, Robin Webb-Reus, sat down with Pennsylvania P&C Guaranty Association’s General Counsel, Doug Fahringer, to discuss the importance of Pride and how people can show their support.

Doug Fahringer

Robin: Well, just to kick us off, can you tell us in your own words, what does Pride mean to you?

Doug: I guess it could mean different things to people…but for me, it is all about being authentic and being true and open about who you are. It is a way of celebrating and recognizing who you feel you are, not what others want you to be. Stepping outside the box, spreading your wings, and growing into that. It takes a while to feel proud because initially the main feeling is just ‘other’. You feel different. I would say to those wondering about living more authentically themselves but are scared, I would say it gets better. It is so freeing. It is just a rich feeling. I am very proud of who I am. It took me awhile to get here, but there is not going back once you are here.

Robin: Doug, you had the opportunity to present and share your story at SERIGA and then at the NCIGF Annual Conference, can you tell me about that experience?

Doug: Yes, definitely. SERIGA’s topic was entitled, “Getting DEI in your DNA” and I felt like I had it in my DNA already; I just did not acknowledge and accept it in myself until much later in life. Therefore, when we began to speak about DEI on the panel, I found myself going off-script a bit and sharing my own story of how I was with the Pennsylvania guaranty association a long time ago in a different role. At that time, I was in a much different place in my life. I lived a life that I thought was right for me at the time. I left and took another job. When I returned to the guaranty association as general counsel, I wanted my co-workers to know that I was not the same person that they knew twenty years ago. I shared on the panel that the response I got was so incredibly encouraging. I had been worried about how the team would receive the information and I had made it a much bigger deal in my mind. I felt support from my co-workers who expressed their support and that they were just happy to have me back.

When I was invited to speak at the NCIGF Annual Conference, it was focused more on DEI in the workplace – hiring, recruiting and retention. After our panel, where I also shared my personal story, we had a reception later that day. I was happy with those who approached me afterwards with positive feedback–from people that I did not know. They told me stories of people they knew or family members who had similar experiences. I was called brave and was praised for my vulnerability. I just saw it as me being honest and true to myself. However, I am so grateful that it struck people that way. I am glad that it made people think about this issue more or even in a different way.
So, having the opportunity to speak at SERIGA and then again and the Annual Conference was wonderful for me. Now I am excited to be on the agenda for the Legal Seminar coming up later this month. Having these opportunities to be part of the discussion and open the door to allowing people to be more comfortable with these topics or have a deeper understanding is something I find fulfilling.

Robin: And what has the response been like from the guaranty fund community so far?

Doug: It has been overwhelmingly positive. I am happy to hear people’s stories. My main encouragement to those who came up to me after I presented was to tell those who might be young or afraid or even those who might be coming out later in life that it gets better. It feels so traumatic, but it is ultimately so freeing and positive. I always say to give yourself the chance. You are not alone. It is such a good, positive feeling to live your true life and be authentic.

Robin: I love that. I think about our community and the conversation that has been ongoing for these last couple of years and I think about the different guaranty association office across the entire U.S. and how they are all different shapes and sizes. What are some ways that all guaranty funds can participate in Pride, no matter their shapes, sizes, or geographic location?

Doug: After I spoke at SERIGA, I had a few people come up and express that they completely embrace the idea and want to dive in and figure out ways to promote DEI but noted that they were from a very small office located in a place lacking in diversity. I let them know that you do not actually have to have people from diverse backgrounds or people from the LGBTQ+ community working for you to embrace diversity in your office. It is more about acknowledging that we are here, and you are an ally. You do not have to march in a parade or perform community service or even give to a charitable organization, although that is important. It starts by recognizing, embracing and being an advocate for all people who are different.

Robin: That is good advice for everyone in our community. I have heard it said that a huge part of allyship is simply having a deeper understanding of the issues and doing some research, so you understand what things like Pride month are all about. Would you agree with that?

Doug: Absolutely, the more you know, the better off we all are. It is kind of like baby steps…you don’t expect change to happen overnight, it is little by little. It is things like this–what we are doing now. My hope is that someone reads this interview, and it opens someone’s horizon even a small amount. Every little bit helps.

Robin: I’m so glad that our community has shown you support and encouragement. Thinking back to the membership as a whole as we wrap up – in your mind, what can our community do to continue to give a voice to members of the LGBTQ+ community?

Doug: I would simply say to everyone: there is plenty of room at the table. I am very excited and encouraged to have a seat at this table where we are able to talk about and highlight these issues, to create educational topics and initiatives to drive the work of DEI. It is not like musical chairs where if I am invited and given a seat that means I am taking someone else’s chair. There is room for all people from diverse backgrounds and with different experiences to contribute to the conversation. The more diverse experiences we have around the table, the richer community we are. It makes us all better. I think of the different sized guaranty associations, even if you do not have a lot of diversity in your particular office, you can have a richly diverse community overall. So, if you see someone that is different from you, embrace them for their differences. Begin a dialogue with them. Include those different perspectives in the decisions you are making. Welcome them to the table. Listen and know that we can all bring something meaningful to the conversation.

Robin: I completely agree, and I want to encourage anyone who wants to be involved in this ongoing discussion to be as engaged as they would like to be. We have open spots on the DEI Subcommittee. You can reach out to me and I will make sure you are included in those planning sessions. Also, I understand that there might be people who have ideas or thoughts that they may want to share but are maybe not ready to be part of the committee. Anyone can reach out to me and we can speak one-on-one.
Thank you so much, Doug, for speaking with me today, for sharing your story and for continuing to raise awareness for the LGBTQ+ community. We are excited to kick off Pride month and to work together to help create a more accepting and diverse culture throughout the NCIGF membership.

Doug: Thank you for the opportunity, Robin. Happy Pride!

Diversity, Equity and Inclusion topics will be part of all NCIGF educational agendas throughout 2023. For more information on NCIGF events please click here: Upcoming Events – NCIGF

Both interview participants have agreed to share their contact information here if anyone in the community wishes to contact them about this article.

Robin Webb-Reus
Director of Communications, Engagement & Culture, NCIGF
rwebb@ncigf.org

Doug Fahringer
General Counsel, Pennsylvania Property & Casualty Insurance Guaranty Association
dfahringer@ppciga.org

2023 NCIGF Annual Conference Highlights

May 8, 2023May 16, 2023 Robin Webb Leave a comment

Watch the highlight video!

The 2023 NCIGF Annual Conference took place in Seattle, Washington on April 20-21. Well attended by many members, it was a fine picture of the “N” in NCIGF with representatives in attendance from all corners of the continental United States, Hawaii, Puerto Rico and Alaska! Day one of the conference included the Annual Meeting of the Members where representatives or proxies from the membership voted on NCIGF business matters including financials, the NCIGF board of directors, and a new bylaw, allowing NCIGF to engage in direct lobbying in partnership with the national P&C trades and member state guaranty funds.

Susan Daniels (Alaska), Roger Schmelzer (NCIGF) & Rafael Rocher (Puerto Rico)

Day one emcee, John Wells, chair of the NCIGF Education Committee, opened the conference by encouraging everyone to come to the educational portion of the event with their minds open and ready to learn. “Step into the messiness of life and decide to get better: for our shops, for ourselves, and for our community.” The first day of the conference also included remarks by outgoing chairman, Chad Anderson, who likened the insurance system to the intricate inner workings of a time piece noting, “Our little piece of the insurance ‘watch’ is extremely important.” Other highlights from the day included presentations on natural catastrophes, running guaranty funds like a small business, a diversity, equity and inclusion panel, as well as the presidents report from Roger Schmelzer, where he once again congratulated Mr. Anderson on two exceptional years as chairman of the organization, which was met with a standing ovation from the audience.

That evening, the membership congregated for a reception where NCIGF recognized the 2023 Gates Marchman Award winner, the late Steve Uhrynowycz, former Arkansas guaranty fund manager who passed in 2022. In an emotional and beautiful acceptance speech, his wife Cindy recognized Steve and his memory as well as his love of the insurance industry and community. Mike Surguine, Ron Hope, and Jim Winskowicz (winner of the first Gates Marchman Award in 2015 and a close friend of Steve’s) were all in attendance at the award ceremony to honor Steve’s memory.

Cindy Uhrynowycz accepts the 2023 Gates Marchman on behalf of her late husband, Steve.

Barry Miller emceed day two of the conference which was kicked off by on intimate interview with NAIC President, Chlora Lindley-Myers (the Missouri Director of Insurance), with Lorrie Brouse serving as the interviewer. Lorrie asked thoughtful and poignant questions about Director Lindley-Myers’ career and trajectory within state insurance regulation. The director highlighted the hurdles she overcame coming from a diverse background and representing minority groups in the industry. The day also included a financial panel from Wells Fargo and a deep dive into understanding NCIGF’s subsidiary, GSI.

Overall, a palpable sense of community and excitement was evident throughout the conference as many opportunities for connection and networking were baked into the program. The NCIGF DEI Subcommittee created an interactive NCIGF “Bingo” game to encourage members to get to know one another. The subcommittee hosted a Networking Breakfast on day two where new members and people who want to be engaged on a higher level had an opportunity to come together with a table leader and have guided discussion to get to know one another. The agenda also included an interactive game, Fact or Fiction, with Tamara Kopp from Missouri serving as the lovely game show host. Much positive feedback was given for all of the connection and interactive events and NCIGF plans to include more things like these in future programs. One new initiative in particular was highlighted several times at the conference: a mentorship program spearheaded by the DEI Subcommittee. A question was included on the post-event survey to further glean the level of interest from the community. Look for more on that initiative in the coming months.

NCIGF will host their Legal Seminar on June 21-22 in Minneapolis, Minnesota, followed by a stand-alone board meeting in Indianapolis in August. For more information on future NCIGF events, click here.

NCIGF 2022 Fall Workshop Highlights

December 1, 2022December 1, 2022 Robin Webb Leave a comment

The 2022 Fall Workshop took place in beautiful, bustling (and chilly) San Antonio on November 17-18 at the Westin Riverwalk. Our highest attended event post-COVID, the workshop was packed with outside speakers and panelists, interactive opportunities as well as familiar faces. “We see ourselves as partners in protection,” was how Commissioner Cassie Brown welcomed the group to the great state of Texas, not only noting the good work that TPCIGA is doing, but also recognizing the community’s public policy efforts at the NAIC and beyond. This, along with hearing from NCIGF Board Chairman, Chad Anderson (WGFS), getting an important update from the southern states, diving into cyber coverage with representatives from Chubb, and having the opportunity to hear from a panel of vendors on Diversity, Equity and Inclusion rounded out the first half of a thought-provoking day one. The DEI topic discussion, so wonderfully presented by the vendor panel, was continued at lunch round tables along with other round table groups covering accounting topics. The second half of the day featured NCIGF President and CEO, Roger Schmelzer, as he updated the membership on all things NCIGF via his President’s Report. And the educational portion of the day was concluded by all attendees participating in a tabletop exercise, breaking into small discussion groups with community experts floating around to help answer questions as the red, blue, and green teams dealt with a mock cyber insolvency situation. The whole day wrapped with a fellowship-centered reception, featuring a heartfelt sendoff to Mr. Marvin Kelly (TX), as he celebrated the workshop as his last event with the guaranty fund community before retirement.

Day two kicked off with takeaways from the tabletop exercise followed by a panel on receivership fiduciary duties. The day’s agenda also included a reflective and encouraging interview with Marvin Kelly with the Texas Executive Director of 30+ years noting, “These aren’t just [claim] files, these are people’s lives…” as he inspired the audience, who later gave him a standing ovation, to take to heart the important and impactful work the guaranty funds do. New NCIGF staffer, Mike Ulmer, wrapped up the day highlighting NCIGF’s IT Security posture and what to expect from the organization in days ahead.

The entire workshop was humming with robust conversation at breaks and meals, great questions from audience members and just the right amount of levity and insightful remarks from the two fantastic emcees, Kerry Nations (TN) and John D’Amato (TX).

Many thanks to the NCIGF Education Committee members and NCIGF staff support for putting together a phenomenal agenda as well as Lynn Cantin from NCIGF for executing yet another great session. The next NCIGF event will be the 2023 Annual Conference, slated to take place in Seattle, WA, on April 20-21, 2023. For a list of all NCIGF Events, please click here.

^{To see even more from this great event, check out our highlight video}^.

2022 IT Summit Highlights

July 22, 2022July 22, 2022 Minh-Tri Dang Leave a comment

“This year’s IT Summit provided a lot of great information and provided some excellent thought-provoking discussions. I am looking forward to the next one!”

“Timely and Updated information for a small guaranty fund.”

“The connections made were invaluable.”

“Long live Chad jokes.”

The 2022 IT Summit was hosted in the city of live music Nashville, Tennessee, on June 30^th and July 1^st. The event focused on the growing digital landscape that many companies face. Kerry Nations, of Tennessee Insurance Guaranty Association, emceed the summit and, along with the opening remarks made by Chad Anderson (WGFS) and Mohamed Awad (CA), a sense of community and humor helped everyone ease into the day.

Day one focused on cyber security. Chad Anderson (WGFS) was joined on stage by Dimitar Kotzev (GFMS) and together they hosted the interactive portion of the day. They posted questions that got everyone thinking about their current cyber security measures. Bradley Stine (Semper Sec) then spoke on risk assessment in the workplace specific to Guaranty Associations. Following a brief break, Mohamed came back on stage this time joined by Devo Heller (CA). Together they rolled out a ransomware tabletop exercise, walking the audience through a hypothetical scenario. This portion was also interactive with Mo and Devo getting the audience involved in identifying the points that went wrong and having them discuss what should have happened with one participant remarking, “Fun exercise! Really drove home how much more we need to know and prepared.”

Continuing the eventful first day, two breakout sessions were held, one hosted by NCIGF’s Nate Jennings discussing software development. The other breakout was moderated by Chad Anderson and NCIGF CEO, Roger Schmelzer, Lead Systems Engineer, Lee Minniear, and Senior Legal Counsel, Ashley Rosenberger, on NCIGF’s information security. One attendee remarked via the follow-up survey, “Thank you for your transparency.”

Day two started bright and early with Devo moderating a panel on Data Challenges in Receiverships that included Joe Holloway (CA Conservation & Liquidation Office), Jamin Dawes (OK Receivership Office), and Viji Krishnamoorthy (FL Department of Financial Services Division of Rehabilitation & Liquidation).

A significant highlight from day two was undeniably John Wells (LA) sharing about the influx of insolvency activity in Louisiana and surprising Nate Jennings and Devo Heller with certificates as Honorary Insurance Commissioners for their hard work on the insolvency data throughout the last several months.

Additional topics like hybrid workplace, data management and cyber security helped to wrap up the summit with one attendee noting the need for continually discussing cyber security measures. “This is a must to have each time. We can’t be too secure, and it is great hearing all the stats and what is currently going on in real time so we can defend our data and networks better.” Comments like these are the whole purpose of these events, providing much-needed ongoing education, development of new thoughts and processes as well as fellowship and conversations among peers.

The hope is to hold an IT Summit every other year as the ever-changing landscape of IT and data security continues to shift and progress.

To view a highlight reel of this event, click here.

NCIGF Makes Progress at NCOIL

April 21, 2021April 21, 2021 Robin Webb Leave a comment

NCIGF-advocated measures received favorable action during the National Conference of Insurance Legislators (NCOIL) meeting last week in Charleston, S.C.

Language was approved making it an express requirement that the Commissioner find that guaranty association coverage is not disrupted before approving a division plan. NCOIL Committee members noted that the model as adopted was a positive development and parallel changes should be made to the previously adopted NCOIL IBT Model. Also adopted as part of the P&C GF Model was the NCIGF’s new language related to insurance company restructurings ensuring guaranty fund coverage neutrality.

“We appreciate the attention of NCOIL members to important issues that impact the state guaranty funds,” said Roger Schmelzer, NCIGF CEO. “It’s critical to state regulation that insurance policyholders be protected and that we know when that protection is in place even while the marketplace and policymaking evolves.”

Divisions and IBT. NCIGF has been keeping an eye on the development of division and insurance business transfer (IBT) statutes around the country. NCIGF has been concerned that guaranty fund issues have not been adequately addressed in some cases. Jointly with NOLHGA, NCIGF has developed language to clarify the need for the commissioner to review guaranty fund coverage issues during the approval process for these transactions. Further, the provisions assigned the burden of demonstrating the impact on guaranty fund coverage to the applicant insurance company. The revisions are consistent with the NCIGF policy that guaranty fund coverage should not be disrupted by a division or insurance business transfer (IBT). That is, if the claim would have been covered before the transaction that coverage should remain in place after. However, guaranty fund coverage should not be created by a transaction when it did not exist before the transaction.

Special Funding Committee language. Changes were also adopted to the NCOIL Model Property Casualty Guaranty Fund model to add optional assessment language that would give guaranty associations the ability to assess for administrative and overhead costs in periods of low claim activity. NCIGF was successful in achieving adoption of this model in 2008. It is often used as a resource for states considering amendments to their acts.

At the April meeting, the Committee adopted optional assessment language designed to provide guaranty associations the ability to assess for administrative and overhead costs in periods of low claim activity. (A provision developed by the NCIGF Special Funding Committee.) Further, the Committee adopted the NCIGF’s new language related to insurance company restructurings. This language, consistent with NCIGF policy ensures that guaranty fund coverage remains in place after a transaction, but such coverage is not expanded.

Schmelzer said that since NCOIL membership is composed of state legislators whose focus is insurance issues in their states, NCIGF engages at that level to build public policy bridges by which to share to its trusted, non-partisan expertise. “It’s a win-win; work at NCOIL often translates to state legislative efforts and NCIGF has expertise on a very discrete area of insurance policy,” Schmelzer said.

He also said that NCIGF will be working with NCOIL to develop amendments to its IBT model. Committee members also expressed interest in a general update on guaranty fund matters which NCIGF will provide.

NCIGF Assessment Liability Report Updated through 2Q 2020

June 23, 2020June 23, 2020 Kevin Leap Leave a comment

The NCIGF Assessment Liability Report has been updated and posted to the NCIGF website with P&C guaranty fund assessment information through June 30, 2020. The report assists insurers in estimating their P&C guaranty fund assessment liabilities while eliminating the need to contact the guaranty funds in each of their member states.

The Assessment Liability Report includes – by statutory account of each state guaranty fund – actual and projected assessment and refund activity, net assessable premium, maximum assessment capacity, assessment type and procedures, lines of business and recoupment provisions. The NCIGF publishes the Assessment Liability Report prior to the end of the second, third and fourth quarters.

The assessment information is located on the NCIGF website under the Industry tab and the drop-down menu titled “Assessment Liability Information”. Historical P&C guaranty fund assessment reports are also included.

NCIGF Launches 2019 Annual Report

May 5, 2020May 5, 2020 Robin Webb Leave a comment

NCIGF 2019 Annual Report