Life and annuity liquidations and rehabilitation.
Work arising when a life, annuity, or financial benefits carrier enters liquidation or rehabilitation.
When a life or annuity carrier fails.
Life and annuity insolvencies differ from property and casualty ones. The obligations run for decades, policyholders often depend on the benefits for income, and coverage is frequently continued or transferred rather than ended. State life and health guaranty associations, coordinated nationally through NOLHGA, protect policyholders up to statutory limits.
The receiver’s work includes coordinating with the guaranty associations, managing early-access & benefit payments, collecting reinsurance, and reviewing expenses. Policyholders or beneficiaries may contest a rehabilitation plan they believe treats them unfairly, and producers need accurate answers for their clients about coverage and payments.
For receivers, beneficiaries, and producers.
Work for a receiver, a policy beneficiary, and an annuity producer.
Challenge to a financial benefits insurer’s rehabilitation planTestifyingLife and annuityRead moreShow less
Retained as policy beneficiary’s expert in Rehabilitation of financial benefits insurance company to support allegations that Rehabilitation Plan may be potentially preferential and in violation of certain provisions of the state’s insurance code.
Also listed under: Testimony for Receivers and Regulators
Life and annuity liquidations at the Illinois Office of the Special Deputy ReceiverConsultingLife and annuityRead moreShow less
As the Director of Insurance operations at the Illinois Office of the Special Deputy Receiver, worked on several liquidations involving annuities and life products. In these engagements Mr. Bingham oversaw early access payments to NOLHGA members, reviewed expenses, and collected blocks of reinsurance. As a member of OSD’s executive interfaced directly with NOLHGA committees on large, multi-state receiverships.
Also listed under: Testimony for Receivers and Regulators
Workforce communications for an annuity carrier entering receivershipConsultingLife and annuityRead moreShow less
Retained by a large annuity producer to draft communications and phone scripts to assist workforce in answering questions regarding continuation of coverage and benefit payments for an annuity carrier entering receivership.
Elsewhere in Receivership & Insolvency Issues.
Receiver’s expert in suits against officers and professionals
Analysis supporting the receiver’s claims against a failed insurer’s former officers, directors, and professionals.
View Receiver’s expert in suits against officers and professionals →Estate claim adjudication and audits
Evaluating, adjudicating, and auditing the claims filed against an insurer in liquidation.
View Estate claim adjudication and audits →Reserve studies for carriers
Reserve adequacy work where solvency is in question.
View Reserve studies for carriers →Reinsurance collections and run-off operations
Collecting reinsurance owed to an estate, and running an insurer in run-off.
View Reinsurance collections and run-off operations →