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Louisiana Insurance Update September 2000/Page 1 Commissioner of Insurance Jim Brown announced June 28th American General Life & Accident Insurance Company, based out of Houston, Texas, had been ordered to give over $10 million in restitu- Brown Says American General Agrees To Pay $10 Million For Overcharging Louisiana Consumers Continued on page 2 Inside James H. “Jim” Brown Commissioner Louisiana Department of Insurance Consumer Hotline 1-800-259-5300 Monday - Friday 8AM - 6PM Louisiana Insurance Tornado Update ................... 4 Gramm Leach Bliley Act...... 5 Spotlight on SHIIP ............... 6 Medicare 101 ....................... 7 News From Licensing .......... 8 Industry Update.................... 8 Publications ......................... 12 State Farm Insurance rewards customers nOUR STAND: Lower insurance rates offer citizens benefits. All along, Insurance Commis- sioner Jim Brown has been telling us if we cracked down on unin- sured motorists and fraud, our in- surance rates would take a nose dive. He was right, as State Farm Insurance Co. proved this week when it lowered its car insurance rates for the second time within a year. To be sure, Louisiana has been notoriously lax on getting unin- sured drivers off the roads. That, coupled with historically tolerant DWI laws and crooked insurance dealings, is a recipe for disaster. And for years Louisianans have been paying through the nose for insurance, with payments for some people more pricey than monthly car payments. State Farm says it will lower in- surance on automobiles by 2.3 per- cent, or a total of $16.6 million. In truth, the savings only amount to about a half-penny a day per insured person, but in the complicated world of insurance, where consumers often feel left out in the cold, the refunds signify a reward to Louisiana. Last week, the company announced $31.5 million in refunds to customers, which amount to about $35 per vehicle in Louisiana. “Rate relief measures such as the state’s ‘no play, no pay’ law, im- poundment of uninsured vehicles and crackdown on drunk drivers are playing a larger part in lowering in- surance claims and costs,” Brown said. From a legislative standpoint, the Responsible Vendor Act went into effect in January. It requires everyone who sells or serves liquor in Louisiana to un- dergo two hours of training and pass a short, written test to receive a required “server permit,” which must be renewed every two years. To go one better, and to provide fur- ther benefits to consumers, law- makers can lower the legal intoxi- cation blood-alcohol level to .08, and improve highway safety. Meanwhile, citizens can be pleased at the State Farm windfall. Surely, other companies will follow their lead. As printed in the TIMES, Shreveport, LA June 23, 2000 September 2000 September 2000/Page 2 Louisiana Insurance Update Part of the problem addressed by the settlement involves race- based pricing affecting a large number of African-American policyholders throughout Louisi- ana. "Basically, African-Ameri- can citizens had been charged sig- nificantly more for the same amount of insurance than were white citizens," Brown stated. Brown said there are pres- ently some 54,000 active indus- trial life and similar burial-type policies in effect in Louisiana and some 155,000 policies no longer in force. Brown stated that American General did not sell policies with race-based premiums, but ac- quired them when the company bought smaller companies that originally issued the policies. Officials with American General said the company continued to charge the discriminatory premi- ums without realizing African- American consumers were pay- ing more than other policyhold- ers for the same coverage. Commissioner Brown maintains American General is bound by the settlement to make a good-faith effort to locate policyholders in Louisiana who may be entitled to restitution. These efforts must include not only direct mailings, but televi- sion announcements in some markets and advertisements in magazines. American General has established a toll-free tele- phone number, 1-800-681-4944, for current and former custom- ers with specific questions about the settlement and the relief it provides. Brown stated American Gen- eral has admitted the mistakes were made in the past and the company has cooperated with the Louisiana Department of Insur- ance in reaching this settlement. The probe of American Gen- eral is not the only investigation of an out-of-state company who may have overcharged its cus- tomers, according to Brown. "We here at the Louisiana Department of Insurance are also looking into four more companies who may be involved in these same, unfair practices. "Our investigation is ongoing and we are hoping to reach a conclusion soon," said Brown. Restitution provided by American General of varying kinds and amounts is available to the following: • Louisiana customers who paid premiums that exceeded their policies' death benefits and who still have their policies. These people would receive ad- American General cont. tion and other relief to more than 209,000 Louisiana policy- holders who were overcharged for their industrial life insurance. Industrial life insurance in Louisiana has traditionally been used to pay for burial expenses, or for smaller amounts of life insurance. In addition, Commissioner Brown announced that Ameri- can General would be fined $355,700 by the Louisiana De- partment of Insurance. "This is one of the largest fines ever is- sued by our Department, and we are deeply concerned that so many Louisiana citizens have been affected by over-billing practices," said Brown. According to Brown, thou- sands of Louisiana residents paid monthly premiums for many years often in excess of the face value of the policy. "Someone might have bought a policy years ago that would pay out $2,000. Yet over the life of the policy, the individual would have paid much more than $2,000. Some of these consumers paid much more than the actual worth of the policy and we cannot allow this in Louisiana,"Brown added. Continued on page 3 Commission Brown speaks with reporters during the press conference on American General. Louisiana Insurance Update September 2000/Page 3 At the left, a member of the LIC visits the Department of Insurance public affairs booth. Commissioner Jim Brown and the Department of Insurance takes part in numerous conferences, festivals and events around the state. The booths provide numerous pamphlets, brochures and the de- partment newsletter for the general public. If you would like us to set up a booth at one of your functions, please contact us at the Louisiana Department of Insurance, P.O. Box 94214, Attn: Public Affairs, Baton Rouge, LA 70804-9214, Phone (225)-342-5900, Toll Free 1-800- 259-5300, Fax (225) 342-4652. Great Reading! ditional death benefits ranging from 10 percent to more than 150 per- cent of the premium paid in excess of the original death benefit. • Current customers who are African-American, who own indus- trial life and certain other small policies, and who have been pay- ing premiums on them since 1982. They will receive the difference between the premiums they paid since 1982 and the premiums paid by other ethnic groups, plus 6 per- cent interest, with a minimum re- fund of $150. • Previous African-American policyholders in Louisiana who canceled their policies or let them lapse since 1982. Their policies may be reinstated, if the customers still want them, at the rate the com- pany charged other races while the policies were in force. • Estates of African-Americans in Louisiana who bought Ameri- can General Industrial Life and certain other small policies and died between 1982 and October 1, 1999. They are eligible for a re- fund of all or part of the difference between the premiums paid by African-Americans and the pre- mium paid by other consumers. Estates of people who died in 1988 or later are entitled to full refunds, while estates of those who died between 1982 and 1987 will get between 10 and 25 percent of the premium differ- ence. • African-American owners of such policies if the policies became "paid up" (endowed) in 1982 or later. As with estates of deceased policy owners, they can get full or partial refunds of the difference between the pre- miums paid by African-Ameri- cans and the premiums that other ethnic groups paid. Those whose policies were paid up in 1988 will get full refunds, while those who paid up their policies be- tween 1982 and 1987 will re- ceive 10 to 25 percent of the premium difference. Commissioner Brown said anyone needing additional in- formation about the settlement can call the Louisiana Depart- ment of Insurance at 1-800-259- 5300, or in Baton Rouge at 342- 5900. Brown Says Physicians National Example Of Lengthy Legal Process Continued on page 8 September 2000/Page 4 Louisiana Insurance Update Commissioner of Insurance Jim Brown says the tornadoes that hit North Louisiana on April 23rd caused significant damage to automobiles and property. Figures compiled by the Louisiana Department of Insur- ance show the area’s four largest in- surers alone report nearly $46 mil- lion in claims filed so far with their companies. Commissioner Brown says of- ficials with State Farm estimate nearly 10,800 property insurance claims have been filed as a result of the Easter tornadoes, resulting in $26.2 million in losses. More than 9,700 auto insurance claims totaling around $16.5 million have been filed by State Farm customers. Farm Bureau reports to Com- missioner Brown that 740 property insurance claims totaling $500,000 and 522 auto insurance claims add- ing up to approximately $700,000 have been filed with that company. USAA officials tell Brown their customers have filed 500 property insurance claims totaling about $551,000 while 365 auto insurance claims add up to around $442,000. Progressive Insurance Company reports 614 auto insurance claims have been filed as a result of the Easter storms totaling $614,000. Officials with the Louisiana Department of Insurance have esti- mated a $120 million loss when commerical lines are factored in. Commissioner Brown urges Louisianians who need storm ad- vice to call the toll free number below and request the Department's newest severe weather brochure "Weathering The Storm." “ ‘Weathering the Storm’ of- fers Louisiana insurance consumers tips on how to prepare in advance for rough weather and what they should do when a storm approaches and in the aftermath," Brown says. Commissioner Brown says consumers can also call 1-877-LA- FRONT (1-877-523-7668). That's the new severe weather help line he established at the Department so Louisianians who need advice in the wake of tornadoes, floods and hurri- canes can call in for helpful tips on how to best protect their family and property. Commissioner Brown of- fers consumers tips on what to do after a storm strikes: 1. Contact your insurance com- pany ASAP if your home, business or car sustained damage. Your agent should provide you with claim forms and make arrangements for an adjuster to visit you. 2. While waiting for the adjuster, take action to prevent further dam- age to your property: cover any holes in your roof and remove any standing water from your house. 3. Move important papers and items not covered by insurance to a safer location. 4. Take photos of your property. 5. Keep all receipts for any materials bought to make repairs. 6. If damage is so severe you cannot stay in your home, let your insurance agent know where you will be. Re- move valuables from your home if there is nowhere to lock them up. 7. When you return to your home, check for any structural damage be- fore entering the house. 8. Watch for live electrical wires. Turn off the electrical current until an electrician has checked your system. 9. Clean damaged hard goods, but do not discard them until your adjuster has seen them. 10. Keep a record of conversations with insurance personnel including the person's name, the time and date. Get the adjuster's name, phone num- ber and company since he or she may be from out-of-town. 11. Avoid repair scams by dealing with local contractors who you know and can easily inspect. Commissioner Brown says con- sumers with insurance questions should call the Louisiana Department of Insurance, toll free, at 1-800-259- 5300. Phone lines are open until 6 P.M. nightly. Damage caused by the Easter Tornados in Bossier Parish; rubble and remains of a building. Easter Tornado Damage Could Top $120 Million A Roadway moving truck is parked in front of a house in North Louisiana that lost its roof during the storm. Louisiana Insurance Update September 2000/Page 5 The Gramm-Leach-Bliley Act passed in the Fall of 1999 and essentially breaks down the bar- riers that have separated insurance companies, banks and securities firms and creates a broader expansion of privacy rights for the consumer. This act allows for the sharing of information between finan- cial institutions within the same corporate family. However, although it permits affiliation of different types of financial institutions, it requires them to protect the confidentiality of the customers’ non-public personal information. This benefits the consumer in the following ways: •Lower transaction costs •Fights fraud within the company •Enables consolidation of account statements •Relationship discounts •Quick credit approvals •Custom design products •Enhance consumer choices The challenge to the state regulatory body is to prove the necessity for state regulation as opposed to federal regulation. The NAIC has moved to protect states’ rights through the creation of several new working groups to provide guidance by creating a more uniform licensing system, faster treatment in li- censing of companies, drafting new privacy regulations and ensur- ing the states’ rights in enforcing state consumer protection laws. The Gramm-Leach-Bliley Act refers to the term “financial institution” as any entity which insures, guarantees, or indemnifies against loss, harm, damage, illness, disability, or death. Addition- ally, that institution provides and issues annuities or acts as a prin- cipal agent, or broker for these purposes in any state. Gramm-Leach-Bliley requires financial institutions, which includes insurers, to protect the privacy of consumers. There are two obligations for these institutions: 1. Companies maintain a privacy policy that is clearly com- Commissioner Brown addresses the LIC on July 19th. Presented to the Louisiana Insurers’ Confer- ence by Brenda Nation, Executive Counsel, Louisiana Department of Insurance 7/19/00 Gramm-Leach-Bliley Act Consumer Privacy Requirements municated to the consumer. 2. No non-public personal information will be disclosed to non-affiliated third parties unless the consumer has been given a chance to opt out of having his/her information disclosed. The disclosure notice must describe the com- panies policies concerning: 1. Who the company is going to disclose to and what information the company is going to disclose about its customer. 2. Whether the company is going to dis- close its customers’ information after the customer ends a relationship with the financial institution. 3. How the company is going to protect its customers’ nonpublic personal information. If the company already has a policy in place that states that there is no disclosure a notice still must be sent to the customers. However, it would not have to include the “opt out” form. There are exceptions to the company having to have the con- sent of the consumer prior to disclosure: 1. Third Party processors to service accounts-they are subject to the same confidentiality requirements as the company. 2. Customer has authorized the transaction. 3. Disclosure of the information to Credit Bureau. 4. It complies with a state or federal investigation. 5. Protection against fraud or unauthorized transactions. 6. Sharing information with insurance rate advisory organi- zations, guaranty funds and person assessing compliance with in- dustry standards. However, it is important to know that a company cannot dis- close the account number, access number, access code for credit card accounts, deposit account or transaction account. Further- more, a company may not use the information for telemarketing, direct mail or e-commerce marketing. Companies must disclose at the time the relationship is es- tablished and annually thereafter. Federal regulations make the effective date for companies to comply with sending out privacy notices to their customers by November 2000, but have extended the compliance to July 1, 2001. The Louisiana Department of In- surance has joined with other states in signing a resolution to agree to this extension. To Do List for Insurers: 1. Assess their existing privacy policies and practices and develop new ones to comply with Title V. 2. Ascertain if they need to make changes in their policy forms, particularly application forms. 3. Develop notices describing privacy policies and practices including sharing with affiliates and non- affiliated third parties. 4. Devise opt out notices and methods to exercise opt out. 5. Train employees. 6. Alter marketing practices. 7. Devise systems to handle initial and annual notices and for tracking policyholders choosing opt out. Brenda Nation September 2000/Page 6 Louisiana Insurance Update The Louisiana Department of Insurance and Commissioner James H. “Jim” Brown want to ensure that Louisiana senior citizens have a complete understanding of their rights and re- sponsibilities as health care consumers. On April 14, 1993, the Department, along with the Health Care Financing Administration, established the Senior Health Insurance Information Program (SHIIP) to offer free and objective information regarding senior health products. They realized that many seniors in Louisiana did not under- stand the complex issues that involved senior health care. The main focus of the program is to aid seniors by addressing concerns and offering options pertaining to Medicare. SHIIP covers all facets of senior health care and is not limited to Medicare topics. The program provides consumers with options so that they may better equip themselves when searching for a suitable health care plan. SHIIP offers help to consumers through one of three formats: trained counselors, annual publications and educational seminars. Trained counselors objectively answer questions and offer advice concerning a wide array of senior health issues. There are two types of SHIIP counselors: those that work on a volunteer basis and those employed by the La. Department of Insurance. Counselors are not insurance agents and are not connected with any insurance com- pany or product. Counselors do not provide legal assistance, make decisions for the client, or promote specific products. Instead, they empower seniors to make informed decisions. SHIIP counselors offer assistance in a num- ber of ways such as over the phone, one-on-one counseling at the local agency, or in some cases visiting the homes of consumers. During counseling sessions, counselors provide an in-depth analysis of insurance needs and give side-by-side comparisons of different policies. Counselors are kept current by participating in ongoing supplemen- tal training. There are four annual publications produced by SHIIP. These publications provide seniors with the skills and information needed to navigate the complex issues of senior health care. These publications are free to the general public and are obtained by a visit to local SHIIP counselors, stopping into the Department, or by direct mail. Another way SHIIP informs consumers is by going out into the community and providing various types of seminars and clinics for Louisiana residents. The meetings are free and open to the general public. The seminars give consumers an opportunity to learn about issues such as Medicare HMOs, Long Term Care and other resources available to Medicare beneficiaries. Seniors are given copies of SHIIP publications and speak face-to-face with SHIIP counselors. SHIIP is able to provide complete and accurate information at these gatherings by forming partnerships with the La. Healthcare Review, La. Health Care Campaign, Medicare Part B, Council On Aging, AARP and the Social Security Administration. In the seven years since its inception, SHIIP has been instrumental in raising the awareness of the senior community about health care options. By offering counselors, publications and seminars SHIIP has become a valuable tool for the Louisiana Department of Insurance, the insurance industry and for senior health care across the state. During 1999 SHIIP received 15,029 phone calls and reached out to over 5,692 individuals by way of community gatherings. SHIIP has proven that it has a place and is fulfilling a need in the field of senior health care information. SPOTLIGHT Article by Tracey Louis, Louisiana Department of Insurance Public Affairs Intern Senior Health Insurance Information Program On SHIIP The New SHIIP Brochure, helping seniors understand their healthcare benefits in Louisiana. Louisiana Insurance Update September 2000/Page 7 On July 25, 2000, Commissioner of Insurance Jim Brown welcomed a large crowd of senior citizens at Our Lady of Mercy Catholic Church in Baton Rouge participating in the latest “Medicare 101” program. “Medicare 101” is a free service sponsored in part by the Louisiana Department of Insurance Senior Health Insurance Information Program (SHIIP), the Louisiana Health Care Review, Social Security and Louisiana Medi- care Part B. This initiative is designed to make understanding Medi- care a less confusing process for seniors and focuses on such topics as eligibility and enrollment, benefits and rights, preventive services and Medigap plans. A representative from Social Security talked to the group about the Medicare application process, SHIIP. Director Alan Heumann counseled the group on insurance matters and Mona Gary with the Louisiana Healthcare Review discussed Medicare patients rights and prevention benefits. Other topics discussed were understanding Medicare Part B coverages, managed care, Medicare + Choice, and supplemental plans. Commissioner Brown says these three-hour “Medicare 101” seminars are presented free of charge statewide to any organization wanting more information on the Medicare program. For more information, call the SHIIP Program at the Louisiana Department of Insurance, toll free, at 1-800-259-5301. Medicare 101: One Stop Shopping For Louisiana’s Senior Citizens Insurance Commissioner Jim Brown SHIIP Director Alan Heumann September 2000/Page 8 Louisiana Insurance Update ACQUISITION RGA REINSURANCE COMPANY (MO) NAIC #93572 Acquisition filed whereby Metropolitan Life Insurance Company (#65978), a New York insurer, has acquired control of the refer- enced Missouri insurers. Acquisition ap- proved by the Missouri Department of In- surance on November 9, 1999. – Dated 6/22/00 TOYOTA MOTOR LIFE INSURANCE COMPANY (IA) NAIC #63444 Acquisition filed whereby Hartford Life and Accident Insurance Company (#70815), a Connecticut insurer (licensed), has acquired control of Toyota Motor Life Insurance Company, an Iowa insurer. Acquisition ap- proved by the Iowa Department of Insur- ance on December 13, 1999. – Dated 6/22/00 HOUSEHOLD INSURANCE COMPANY (MI) n/k/a Kemper Casualty Insurance Com- pany NAIC # 27138 Acquisition filed whereby Lumbermens Mutual Casualty Company (#22977), an Il- linois insurer, has acquired control of House- News From Licensing The Agent Licensing Division recently completed the processing of life, health & accident renewals for the May 1, 2000 license year. Of the approximate 40,000 renew- als mailed out on December 1, 1999, roughly 28,000 licensees re- newed their licenses prior to or on May 1st. Renewal certificates con- firming that agents have renewed their licenses have been printed and we anticipate having them mailed out the first week of Au- gust. We will be sending out property and casualty renewal applications in early November so if you have an address change (residence, business or mailing) please send notice to our office immediately. You may submit address changes in writing through the mail or as a convenience, you may also fax the change to our office at (225) 342-3078. hold Insurance Company (n/k/a Kemper Casualty Insurance Company), a Michigan corporation. Acquisition approved by the Michigan Department of Insurance in May 28, 1999. - Dated 7/6/00 MANHATTAN LIFE INSURANCE COM- PANY (NY) NAIC # 65870 Acquisition filed whereby Connecticut Re- assurance Corporation, a Connecticut insur- ance holding company, has acquired control of Manhattan Life Insurance Company, a New York insurer. Acquisition approved by the New York Department of Insurance on January 26, 1999. - Dated 5/12/00 TRAFALGAR INSURANCE COMPANY (OK) NAIC # 25433 Acquisition filed whereby American Safety Holdings Corp., a Georgia corporation, has acquired control of Trafalgar Insurance Company, an Oklahoma insurer. Acquisi- tion approved by the Oklahoma Department of Insurance in March 2000. – Dated 6/2/00 TRANSAMERICA ASSURANCE COM- PANY (MO) NAIC # 80829 Acquisition filed whereby AEGON N.V. (Netherlands) and Tony Merger Corp., a Delaware corporation, has acquired control of Transamerica Assurance Company, a Missouri insurer. Acquisition approved by Industry Update News Physicians National cont. Louisiana Insurance Update September 2000/Page 9 the Missouri Department of Insurance on June 14, 1999. – Dated 5/16/00 TRANSAMERICA LIFE INSURANCE AND ANNUITY COMPANY (NC) NAIC # 69507 Acquisition filed whereby AEGON N.V. (Netherlands) and Tony Merger Corp., a Delaware corporation, has acquired control of Transamerica Life Insurance and Annu- ity Company, a North Carolina insurer. Ac- quisition approved by the North Carolina Department of Insurance on May 26, 1999. – Dated 5/16/00 TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY (CA) NAIC # 67121 Acquisition filed whereby AEGON N.V. (Netherlands) and Tony Merger Corp., a Delaware corporation, has acquired control of Transamerica Occidental Life Insurance Company, a California insurer. Acquisition approved by the California Department of Insurance on July 20, 1999. – Dated 5/16/00 WESTCHESTER SURPLUS LINES IN- SURANCE COMPANY (GA) - NAIC # 10172 Acquisition filed whereby ACE Limited, a Cayman Islands corporation, ACE Prime Holdings Inc., a Delaware corporation and ACE INA Holdings Inc., a Delaware cor- poration have acquired control of the refer- enced insurers. Acquisition approved by the Pennsylvania Department of Insurance on June 16, 1999. – Dated 6/6/00 CENTRAL NATIONAL LIFE INSUR- ANCE COMPANY OF OMAHA (DE) NAIC # 61700 Acquisition filed whereby Presidential Life Corporation, a Delaware corporation, and Herbert Kurz (co-applicant), have acquired control of Central National Life Insurance Company of Omaha, a Delaware insurer. Acquisition approved by the Delaware De- partment of Insurance on December 22, 1999. – Dated 6/6/00 WASHINGTON INTERNATIONAL IN- SURANCE COMPANY (AZ) NAIC # 32778 Acquisition filed whereby North American Specialty Insurance Company, a New Hampshire insurer (#29874) has acquired control of Washington International Insur- ance Company, an Arizona insurer. Acqui- sition approved by the Arizona Department of Insurance on December 22, 1999. – Dated 6/6/00 INTEGRITY LIFE INSURANCE COM- PANY (OH) NAIC # 74780 Acquisition filed whereby Western and Southern Life Insurance Company, an Ohio insurer, has acquired control of Integrity Life Insurance Company, an Ohio insurer. Ac- quisition approved by the Ohio Department of Insurance on January 21, 2000. – Dated 6/15/00 RGA REINSURANCE COMPANY (MO) NAIC # 93572 Acquisition filed whereby Metropolitan Life Insurance Company (#65978), a New York insurer, has acquired control of the refer- enced Missouri insurers. Acquisition ap- proved by the Missouri Department of In- surance on November 9, 1999. – Dated 6/22/00 TOYOTA MOTOR LIFE INSURANCE COMPANY (IA) NAIC #63444 Acquisition filed whereby Hartford Life and Accident Insurance Company (#0000), a Connecticut insurer (licensed), has acquired control of Toyota Motor Life Insurance Company, an Iowa insurer. Acquisition ap- proved by the Iowa Department of Insur- ance on December 13, 1999. – Dated 6/22/00 AGENT FOR SERVICE OF PROCESS CHANGE GULF STATES LIFE INSURANCE COM- PANY (LA) NAIC #75612 Amendment (effective 6/8/00): amending Articles of Incorporation changing the ad- dress of the agent for service of process from 444 South King Street to John E. Brignac, Jr. and Bobby P. Dupre at 304 West Landry Street, Opelousas, LA 70570. – Dated 6/23/00 IMPERIAL FIRE AND CASUALTY IN- SURANCE COMPANY (LA) NAIC #44369 Amendment (effective 6/8/00): amending Articles of Incorporation changing the ad- dress of the agent for service of process from 444 South King Street to John E. Brignac, Jr. and Bobby P. Dupre at 304 West Landry Street, Opelousas, LA 70570. – Dated 6/23/00 GULF STATES LIFE INSURANCE COMPANY (LA) NAIC #75612 Amendment (effective 6/8/00): amending Articles of Incorporation (changing the address of the agent for service of process from 444 South King Street to John E Street. - Dated 5/8/00 MERGER AGREEMENT COMMERCIAL COMPENSATION IN- SURANCE COMPANY (NY) NAIC #10650 AGENCY #14470 Redomestication/Merger (effective 5/23/ 00): whereby Commercial Compensation Insurance Company, a New York insurer (licensed) merged into Commercial Com- pensation Casualty Company, a California insurer (unlicensed/shell/surviving com- pany). Upon the effective date of merger, Commercial Compensation (NY) shall be merged into the Commercial Compensation Casualty Company (unlicensed/ survivior), as a single corporation, and the separate corporate existence of Commercial Com- pensation (NY) shall cease. The Commer- cial Compensation Casualty Company (un- licensed/survivor) filed Articles of Incor- poration thus redomesticating from New York to California. NAIC number 10650 remains unchanged. – Dated 6/22/00 NAME/DOMICILE and/or REDOMESTICATION COMMERCIAL UNION ASSURANCE COMPANY PLC NAIC #1120375 – Surplus Lines Insurer Amendment (effec- tive 10/1/99): amending Articles of Asso- ciation (changing the company’s name from Commercial Union Assurance Company PLC to CGU International Insurance PLC). – Dated 7/14/00 September 2000/Page 10 Louisiana Insurance Update NAIC #65609 AGENCY #8618 Merger Agreement (effective 11/19/99): whereby Revelation Life Insurance Com- pany, a Missouri insurer (licensed) merged into Lincoln Heritage Life Insurance Com- pany, an Illinois insurer (licensed/surviving company). At the effective time of merger, the separate existence of Revelation Life In- surance Company (#82708 & AGY #82708) shall cease. – Dated 5/9/00 CONSECO VARIABLE INSURANCE COMPANY (TX) NAIC #64017 AGENCY #7240 and 7241 Merger Agreement (effective 1/1/00): whereby Providential Life Insurance Com- pany, an Arizona insurer (licensed) merged into Conseco Variable Insurance Company, a Texas insurer (licensed/surviving com- pany). Upon and after the effective time of merger, Providential Life Insurance Com- pany (NAIC #68497 and AGT #10940) shall cease to exist. – Dated 6/7/00 SAFEHEALTH LIFE INSURANCE COM- PANY, INC. (TX) NAIC #61484 AGENCY #2995 Merger Agreement (effective 6/30/98): whereby SafeHealth Life Insurance Com- pany, Inc., a Texas insurer (licensed) merged into SafeHealth Life Insurance Company, a California insurer (unlicensed/surviving company). After the effective date of merger, SafeHealth Life Insurance Company, Inc. (Texas) shall cease to exist. – Dated 6/7/00 GUARANTEE LIFE INSURANCE COM- PANY (NE) NAIC #64181 AGENCY #7318 Merger Agreement (effective 12/10/99): whereby Westfield Life Insurance Company, a Nebraska insurer (licensed) merged into Guarantee Life Insurance Company, a Ne- braska insurer (licensed/surviving com- pany). At the effective time of merger, the separate existence of Westfield Life Insur- ance Company, a Nebraska insurer (NAIC #62030 – AGENCY #0000) shall cease. – Dated 6/15/00 COMMERCIAL COMPENSATION IN- SURANCE COMPANY (NY) NAIC #10650 AGENCY #14470 Redomestication/Merger (effective 5/23/ 00): whereby Commercial Compensation Insurance Company, a New York insurer (li- COMMERCIAL UNION LIFE INSUR- ANCE COMPANY OF AMERICA (DE) NAIC #62898 AGENT #62898 Amendment (effective 10/14/99): amending Articles of Incorporation (changing the company’s name from Commercial Union Life Insurance Company of America to CGU Life Insurance Company of America). – Dated 7/14/00 SHEFFIELD INSURANCE CORPORA- TION (AL) NAIC # 26620 S u r p l u s L i n e s I n s u r e r Redomestication(effective 11/30/99): amending Articles of Incorporation (redomesticating the company from Ala- bama to the State of Illinois). – Dated .7/14/00 SHELBY CASUALTY INSURANCE CORPORATION (IN) NAIC #30503 Redomestication (effective 11/30/99): amending Articles of Incorporation (redomesticating the company from Indiana to the State of Illinois). – Dated 7/14/00 VESTA INSURANCE CORPORATION (AL) NAIC #42668 Redomestication (effective 11/30/99): amending Articles of Incorporation (redomesticating the company from Ala- bama to the State of Illinois). – Dated 7/14/00 VESTA FIRE INSURANCE CORPORA- TION (AL) NAIC #11762 Redomestication (effective 11/30/99): amending Articles of Incorporation (redomesticating the company from Ala- bama to the State of Illinois). – Dated 7/14/00 COVENTRY HEALTH AND LIFE IN- SURANCE COMPANY (TX) NAIC #81973 Redomestication (effective 05-14-99): amending Articles of Incorporation (redomiciling the company from the Texas to the State of Delaware). – Dated 6/22/00 INVESTORS EQUITY INSURANCE COMPANY, INC. (CA) NAIC #29114 AGENCY #15850 Amendment (effective 12/30/99): amending Articles of Incorporation (changing the company’s name from Investors Equity In- surance Company, Inc. to CMG Mortgage Assurance Company). – Dated 6/22/00 REASSURANCE COMPANY OF HANNOVER (FL) NAIC #88340 Accredited/ Authorized Reinsurer Amendment (effective 04-01-2000): amend- ing Articles of Incorporation (changing the company’s name change from Reassurance Company of Hannover to Hannover Life Re- assurance Company of America). – Dated 6/22/00 TOYOTA MOTOR LIFE INSURANCE COMPANY (IA) NAIC #63444 AGENCY #9175 Amendment (effective 3/29/00): amending Articles of Incorporation (changing the company’s name from Toyota Motor Life Insurance Company to Nutmeg Life Insur- ance Company). – Dated 6/22/00 BANKERS LIFE AND CASUALTY COM- PANY (IL) NAIC #61263 AGENCY #2120 Merger Agreement (effective 01/01/00): whereby Certified Life Insurance Company, an Illinois insurer (licensed) merged into Bankers Life and Casualty Company, an Il- linois insurer (licensed/surviving company). At the effective time of merger, the separate existence of Certified Life Insurance Com- pany (#61778 & AGY #2573) shall cease. – Dated 5/9/00 LIFE OF BOSTON INSURANCE COM- PANY (IL) NAIC #65927 AGENCY #8542 Merger Agreement (effective 11/30/99): whereby Lincoln Heritage Life Insurance Company, an Illinois insurer (licensed #65609 & AGY #8618) merged into Life of Boston Insurance Company, an Illinois in- surer (licensed/surviving company). Simul- taneously with the merger, Life of Boston Insurance Company amended its Articles of Incorporation, changing the company’s name to Lincoln Heritage Life Insurance Company (#65927). – Dated 5/9/00 LINCOLN HERITAGE LIFE INSUR- ANCE COMPANY (IL) Louisiana Insurance Update September 2000/Page 11 censed) merged into Commercial Compen- sation Casualty Company, a California in- surer (unlicensed/shell/surviving company). Upon the effective date of merger, Commer- cial Compensation (NY) shall be merged into the Commercial Compensation Casu- alty Company (unlicensed/ survivior), as a single corporation, and the separate corpo- rate existence of Commercial Compensation (NY) shall cease. The Commercial Com- pensation Casualty Company (unlicensed/ survivor) filed Articles of Incorporation thus redomesticating from New York to Califor- nia. NAIC number 10650 remains un- changed. – Dated 6/22/00 NAME/DOMICILE CHANGE and/or REDOMESTICATION AMERICAN NETWORK INSURANCE COMPANY (VT) NAIC #81078 Redomestication (effective 3/21/00): amending Articles of Incorporation (redomiciling the company from Vermont to the State of Pennsylvania). – Dated 5/9/00 MIDLAND RISK INSURANCE COM- PANY (TN) NAIC #11851 AGENCY #16212 Amendment (effective 9/20/99): amending Articles of Incorporation (changing the company’s name from Midland Risk Insur- ance Company to Progressive Home Insur- ance Company). – Dated 5/8/99 ALBANY INSURANCE COMPANY (NY) NAIC #19917 AGENCY #13465 Amendment (effective 8/30/99): amending Articles of Incorporation (changing the company’s name from Albany Insurance Company to Liberty Marine Underwriters, Inc.). – Dated 6/7/00 LIBERTY MARINE UNDERWRITERS, INC. f/k/a Albany Insurance Company (NY) NAIC #19917 AGENCY #13465 Amendment (effective 11/23/99): amending Articles of Incorporation (changing the company’s name from Liberty Marine Un- derwriters, Inc. to Liberty Insurance Under- writers Inc.) – Dated 6/7/00 BEST LIFE ASSURANCE COMPANY OF CALIFORNIA (CA) NAIC #90638 AGENCY #2292 Amendment (effective 12/16/99): amending Articles of Incorporation (changing the company’s name from Best Life Assurance Company of California to BEST LIFE and Health Insurance Company) and (redomesticating the company from Califor- nia to the State of Texas). – Dated 6/15/00 EMPLOYERS REINSURANCE CORPO- RATION (MO) NAIC #39845 Amendment (effective 12/20/99): amending Articles of Incorporation (changing the company’s city of domicile from Kansas City to Jefferson City, Missouri). – Dated 6/15/00 WESTFIELD LIFE INSURANCE COM- PANY (OH) NAIC #62030 Redomestication (effective 10/28/98): amending Articles of Incorporation (redomesticating the company from Ohio to the State of Nebraska). – Dated 6/15/00 INDEPENDENT FIRE INSURANCE COMPANY (FL) NAIC #22608 AGENCY #15700 Amendment (effective 12/07/99): amending Articles of Incorporation (changing the company’s name from Independent Fire In- surance Company to State National Spe- cialty Insurance Company). – Dated 6/15/00 PENNSYLVANIA CASUALTY COM- PANY (KS) NAIC #26107 Redomestication (effective 10/01/99): amending Articles of Incorporation (redomesticating the company from Kansas to the State of Pennsylvania). – Dated 6/15/00 TRAFALGAR INSURANCE COMPANY (OK) NAIC #25433 - Surplus Lines Insurer Amendment (effective 03/24/00): amending Articles of Incorporation (changing the company’s name from Trafalgar Insurance Company to American Safety Indemnity Company). – Dated 6/15/00 TRUSTMARK INSURANCE COMPANY (MUTUAL) - (IL) NAIC #61425 AGENCY #2260 Amendment (effective 01-01-00): amending Articles of Incorporation (changing the company’s name from Trustmark Insurance Company (Mutual) to Trustmark Insurance Company). – Dated 6/15/00 COVENTRY HEALTH AND LIFE IN- SURANCE COMPANY (TX) NAIC #81973 Redomestication (effective 05-14-99): amending Articles of Incorporation (redomiciling the company from the Texas to the State of Delaware). – Dated 6/22/00 INVESTORS EQUITY INSURANCE COMPANY, INC. (CA) NAIC #29114 AGENCY #15850 Amendment (effective 12/30/99): amending Articles of Incorporation (changing the company’s name from Investors Equity In- surance Company, Inc. to CMG Mortgage Assurance Company). – Dated 6/22/00 REASSURANCE COMPANY OF HANNOVER (FL) NAIC #88340 Accredited/ Authorized Reinsurer Amendment (effective 04-01-2000): amend- ing Articles of Incorporation (changing the company’s name change from Reassurance Company of Hannover to Hannover Life Re- assurance Company of America). – Dated 6/22/00 TOYOTA MOTOR LIFE INSURANCE COMPANY (IA) NAIC #63444 AGENCY #9175 Amendment (effective 3/29/00): amending Articles of Incorporation (changing the company’s name from Toyota Motor Life Insurance Company to Nutmeg Life Insur- ance Company). – Dated 6/22/00 September 2000/Page 12 Louisiana Insurance Update This public document was published at a total cost of $2,750 .00 A total of 20,000 copies of this public document were published in this printing.This document was published for the Louisiana Department of Insurance, P.O. Box 94214, Baton Rouge, LA., 70804-9214, by Moran Printing , Baton Rouge, LA under the authority of special exception by the Division of Administration. This material was printed in accordance with the standard for printing by state agencies established pursuant to R.S. 43:31. Louisiana Department of Insurance Commissioner James H. “Jim” Brown P.O. Box 94214 Baton Rouge, LA 70804-9214 Single copies of the following publications are available free of charge at your request: Award Winning! Ask Commissioner Brown -- The Commissioner’s weekly question-and-answer-style column that appears in more than 30 newspapers around the state. Award Winning! How to File an Insurance Complaint -- A step-by-step explanation of how to file a complaint with the Department of Insurance and what help you can expect once you have filed your complaint. Award Winning! Teenager’s Guide to Auto Insurance -- Answers to common questions teenagers have about getting auto insurance. Solving Your Health Insurance Problems -- Assists you in choosing the right health care plan and resolving disputes about medical insurance claims. The Pocket Guide to Getting a Resident Insurance License -- A guide for those interested in becoming insurance agents licensed to sell in Loui- siana. Consumer Beware -- A top 10 list of things you can do to stop insurance fraud. Consumer Guide to Auto Insurance -- Shopping tips, policy terminol- ogy, discount information and easy-to-use worksheets make these book- lets a consumer favorite. Revised! Auto Rate Comparison Guide and Homeowners Rate Com- parison Guide -- These two publications provide the consumer with a convenient way to compare rates of different companies when shopping for insurance. Dos and Don’ts of Workers’ Compensation -- The guidelines people should follow when they experience injury at their place of employment. Buyer’s Guide to Fixed Annuities -- A guide to help answer your questions regarding fixed, deferred and other types of annuities. Louisiana Insurance Fraud Investigator -- A special report on the fraud-fighting efforts of the Department. Weathering the Storm -- A complete guide to preparing for the upcoming storm season. Louisiana SHIIP -- An informative brochure for seniors. A SHIIP Counselor can explain how Medicare works, what is covered and what costs the new recipient is responsible for. Consumer Guide to Homeowners Insurance -- Shopping tips, policy terminology, discount information and easy-to-use worksheets make these booklets a consumer favorite.
