NAIC Working Group Exposes Proposed Revisions to Life and Health Guaranty Association Model Act

On October 27, the NAIC Model Law (E) Working Group released an exposure draft of its proposed revisions to the Life and Health Guaranty Association Model Act (#520), intended to address the financial challenges of Long Term Care (“LTC”) insurance insolvencies, such as this year’s Penn Treaty liquidation, and to bring health maintenance organizations (“HMOs”) within the Guaranty Associations’ protection and assessment base.

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