| The following items lend guidance to the establishment of accruals for potential guaranty association assessments. Contact the NAIC or AICPA for copies. |
| Statement of Statutory Accounting Principle No. 35 - Accounting for Guaranty Fund and Other Assessments (finalized March 2000 by the NAIC) |
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| Issue Paper No. 35 - Accounting for Guaranty Fund and Other Assessments (finalized December 1999 by the NAIC) |
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| SOP 97-3 - Accounting by Insurance and Other Enterprises for Guaranty Fund and Certain Other Insurance-Related Assessments (released December 1996 by the AICPA) |
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| File Explanations: |
| Costs - This Microsoft Excel workbook (created with Office 2003) contains individual spreadsheets for all insolvency cases along with various summary schedules and assessable premium data. |
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Report - This PDF file contains all commentary
and notes for the insolvency cost report. It includes general descriptions
of categories, brief comments on individual insolvency cases, assessment
and premium tax offset provisions, and premiums by state. Also included
are the spreadsheets from the Costs Excel workbook, thus creating
one comprehensive report. You will need Acrobat Reader to open and
read this file.
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Comments - This Microsoft Word document
(created with Office 2003) contains all commentary and notes for the
insolvency cost report. It includes general descriptions of categories,
brief comments on individual insolvency cases and premium tax offset
provisions. This file is no longer provided beginning with
2003 since all information is included in the Report PDF file.
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| Note: It is recommended that you use Microsoft Office 97 or higher to view these documents. |
The "Report" is a PDF file, requiring Adobe Acrobat
Reader 6.0 (if you don't have it, click on the image below to transfer
to the Adobe site and select an install file).
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| Costs |
[1436k] |
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Report |
[702k] |
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Last updated 11/19/07
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Note on Executive Life Insurance Company of New York
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Executive Life Insurance Company of New York (ELNY) is the New York domiciled company of the Executive Life group. It is separate from the Executive Life Insurance Company data reflected in the insolvency cost data files and report. ELNY has not yet been placed in liquidation, and no guaranty association has been triggered to date. Given NY Governor Spitzer's December 4th press conference and press release, NOLHGA believes it is very likely that NY Superintendent of Insurance Dinallo will seek an order of liquidation in 2008. The ELNY Task Force is now working with potentially affected guaranty associations to determine how much (if any) ELNY liquidation funding will be the responsibility of each guaranty association and its member companies. As soon as we have reliable estimates of those amounts, we will make them available. You may check the website periodically to see if any cost information has been posted.
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