Important Update Concerning Executive Life Insurance Company of New York
In connection with the liquidation of Executive Life Insurance Company of New York (ELNY), the New York Superintendent of Financial Services (Superintendent) filed on Nov. 7 the much anticipated Schedule 1.15 to the Restructuring Agreement between the Superintendent, the National Organization Of Life And Health Guaranty Associations (NOLHGA), and the participating state guaranty associations (PGAs). Consequently, for the first time, annuity owners can evaluate their exposure under the Restructuring Agreement, and determine whether they are receiving that to which they are entitled under the state guaranty association acts.
The material contained in this communication is informational, general in nature and does not constitute legal advice. The material contained in this communication should not be relied upon or used without consulting a lawyer to consider your specific circumstances. This communication was published on the date specified and may not include any changes in the topics, laws, rules or regulations covered. Receipt of this communication does not establish an attorney-client relationship. In some jurisdictions, this communication may be considered attorney advertising.