2019-11-07T10:22:30-06:00 2018-12-31 351178661 BLUE & CO LLC 500 N MERIDIAN ST SUITE 200 INDIANAPOLIS IN 46204 990 2018-01-01 363678111 NATIONAL CONFERENCE OF INSURANCE GUARANTY FUNDS INC NATI 3174648192 300 N MERIDIAN STREET NO 1020 INDIANAPOLIS IN 46204 ROGER H SCHMELZER CEO 3174648192 2019-10-30 1 ANGELA N CRAWFORD CPA P00573197 3176334705 2019-10-30 184.170.167.146 2019-10-30 13:56:25 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 AF923E04E140C4DE71FD41AF2127CF5344A3E036 2018 2020-03-31 21:24:44Z ROGER H SCHMELZER 300 N MERIDIAN STREET NO 1020 INDIANAPOLIS IN 46204 4117002 0 X WWW.NCIGF.ORG X 1989 IL NATIONAL CONFERENCE OF INSURANCE GUARANTY FUNDS (NCIGF) ASSISTS PROPERTY AND CASUALTY GUARANTY FUNDS 19 19 18 0 0 18440 0 0 3837127 4041531 38659 75471 0 0 3875786 4117002 0 0 0 0 2136131 2114790 0 0 0 1537802 1627153 3673933 3741943 201853 375059 7551595 3201905 5908676 1141606 1642919 2060299 X TO BRING THE GREATEST POSSIBLE VALUE TO THE MEMBER STATE PROPERTY AND CASUALTY GUARANTY FUNDS AND THE STATE-BASED GUARANTY FUND SYSTEM IN OPERATIONAL SUPPORT, COMMUNICATION AND PUBLIC POLICY DEVELOPMENT. 0 0 NATIONAL CONFERENCE OF INSURANCE GUARANTY FUNDS (NCIGF) IS A BUSINESS LEAGUE WHICH ADVANCES THE COLLECTIVE MISSIONS OF ITS MEMBERS AND PROVIDES NATIONAL ASSISTANCE IN VARIOUS AREAS FOR PROPERTY AND CASUALTY GUARANTY FUNDS. NCIGF ASSISTS IN THE COORDINATION BETWEEN THE LIQUIDATORS AND PROPERTY AND CASUALTY GUARANTY FUNDS IN MULTI-STATE INSOLVENCIES, MONITORS LITIGATION AND LEGISLATION AFFECTING GUARANTY FUNDS, CONDUCTS VARIOUS EDUCATIONAL AND TRAINING PROGRAMS, PROVIDES INFORMATION CONCERNING THE PROPERTY AND CASUALTY GUARANTY FUND SYSTEM; AND PROVIDES A FORUM FOR DISCUSSION OF GUARANTY FUND RELATED ISSUES. NCIGF PROVIDES OPERATIONAL SUPPORT, COMMUNICATIONS AND PUBLIC POLICY DEVELOPMENT TO ITS MEMBERS, THE STATE PROPERTY AND CASUALTY GUARANTY FUNDS. THE NCIGF ALSO ASSIST PROPERTY AND CASUALTY GUARANTY FUNDS BY PROVIDING THEM WITH CURRENT LEGISLATIVE INFORMATION AND EDUCATIONAL TRAINING OPPORTUNITIES.SEE SCHEDULE O FOR 2018 SERVICE ACCOMPLISHMENTS HIGHLIGHTS.HIGHLIGHTS OF OUR 2018 ACCOMPLISHMENTS INCLUDE:1) RECEIVER RELATIONSNCIGF HAS ALWAYS SOUGHT THE MOST POSSIBLE COLLABORATIVE RELATIONSHIP WITH RECEIVERS AND FINANCIAL REGULATORS. PROGRESS IN ACHIEVING THIS STRATEGIC OBJECTIVE HAS GROWN STEADILY OVER THE PAST DECADE AND BY 2016 NCIGF AND THE NATIONAL ORGANIZATION OF LIFE & HEALTH INSURANCE GUARANTY ASSOCIATIONS (NOLHGA) WERE INVITED TO PARTICIPATE IN THE CONFIDENTIAL RECEIVERSHIP FINANCIAL ANALYSIS WORKING GROUP (RFAWG) AT THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS (NAIC). BY 2018, GUARANTY FUND "TRUSTED EXPERTISE" HAD EVOLVED TO THE POINT THAT BOTH NCIGF AND NOLHGA WERE ASKED TO BRIEF FINANCIAL REGULATORS ABOUT COMPLEX ISSUES ENCOUNTERED IN CONTEMPORARY LIQUIDATIONS. NCIGF FEEDBACK INCLUDED THE VALUE OF PRE-LIQUIDATION PLANNING, REGULATORY OVERSIGHT OF THE CONDITION AND AVAILABILITY OF DIGITAL DATA IN A TROUBLED COMPANY, SERVICE ARRANGEMENTS (THIRD PARTY ADMINISTRATORS AND MANAGING GENERAL AGENTS), AND THE TYPE AND LOCATION OF COLLATERAL, ESPECIALLY THAT WHICH IS INTENDED TO SECURE LARGE DEDUCTIBLE OBLIGATIONS. NCIGF HOPES TO BUILD ON THESE DEVELOPMENTS IN THE YEARS AHEAD.2) SYSTEMWIDE DATA SECURITY UPDATES TO THE "WEB OF TRUST"DATA SECURITY CONTINUES TO BE A PRIMARY BUSINESS FOCUS FOR NCIGF. IN 2018, MANY DISCUSSIONS TOOK PLACE ON HOW TO STRENGTHEN THE SHARED CYBER SECURITY RISK EXPOSURE OF GUARANTY FUNDS AND RECEIVERS, THE "WEB OF TRUST." NCIGF CONDUCTED AN INFORMATION GATHERING CAMPAIGN TO ASSESS THE OVERALL SECURITY POSTURE OF THE SYSTEM. BASED ON THE INFORMATION RECEIVED, NCIGF INITIATED SEVERAL IT SECURITY-RELATED INITIATIVES. THESE INITIATIVES WILL CONTINUE INTO 2019 AND BEYOND.3) LARGE DEDUCTIBLE AGREEMENTIN 2018 REGULATORS ADOPTED VERY POSITIVE RECOMMENDATIONS GOVERNING LARGE DEDUCTIBLE INSOLVENCIES, INCLUDING THAT STATES BE ENCOURAGED TO ADOPT STATUTES THAT GRANT THE RECEIVER THE AUTHORITY TO COLLECT DEDUCTIBLE RECOVERIES. IF NO STATUTE IS IN PLACE RECEIVERS ARE ENCOURAGED TO EXECUTE AN AGREEMENT WITH THE GUARANTY FUNDS TO ENABLE THIS PROCESS. THE WORKING GROUP NOTED THAT TWO LARGE DEDUCTIBLE MODEL STATUTES ARE AVAILABLE THE NAIC AND THE NCIGF VERSIONS. MORE WORK IN THIS CONTROVERSIAL AREA WILL TAKE PLACE AT THE NAIC IN 2019.4) COORDINATING COMMITTEE PROCEDURESCOORDINATING MULTI-STATE INSOLVENCIES IS THE BACKBONE OF SERVICES OFFERED TO NCIGF MEMBERS. THIS ROLE IS AIDED SUBSTANTIALLY BY THE COORDINATING COMMITTEE PROCEDURES MANUAL WHICH WAS COMPLETELY REVISED IN 2018. THE NEW GUIDELINES MEMORIALIZE LESSONS GLEANED FROM PRIOR INSOLVENCIES AND SEEKS TO STREAMLINE THE COORDINATING COMMITTEE PROCESS THROUGH A CLEAR DISCUSSION OF POTENTIAL ISSUES AND TEMPLATE DOCUMENTS. GIVEN THE INCREASED SIZE AND SCOPE OF THE MANUAL, IT IS NOW BEING HOSTED ON A SECURE WIKI, TO MAKE NAVIGATION FASTER AND MORE EFFICIENT.5) NCIGF CEO ELECTED CHAIR OF IFIGSIN DECEMBER, THE INTERNATIONAL FORUM OF INSURANCE GUARANTEE SCHEMES (IFIGS) ELECTED NCIGF PRESIDENT & CEO, ROGER SCHMELZER, TO SERVE AS CHAIRMAN OF THE ORGANIZATION FOR 2019. IFIGS FACILITATES AND PROMOTES INTERNATIONAL COOPERATION BETWEEN INSURANCE GUARANTEE SCHEMES AND OTHER STAKEHOLDER ORGANIZATIONS WITH AN INTEREST IN POLICYHOLDER PROTECTION. AN INTERNATIONAL PLATFORM WILL ELEVATE THE U.S. GUARANTY SYSTEM'S VALUE AND REPUTATION AMONG DOMESTIC SOLVENCY REGULATORS. NCIGF HAS ALREADY EXPERIENCED THE VALUE OF INVOLVEMENT WITH IFIGS; THE U.S. AND WORKING WITH IFIGS MEMBERS HAS SECURED CHANGES TO INTERNATIONAL REGULATORY DRAFTS WHICH UNDERSCORE THE PRIMACY OF POLICYHOLDER PROTECTION, THE IMPORTANCE OF PRE-INSOLVENCY COOPERATION, COLLABORATION BETWEEN THE GUARANTY SYSTEM AND REGULATORS AS WELL AS CLEARING UP ANY MISCONCEPTIONS THAT A GUARANTY ASSOCIATION COULD SPREAD FINANCIAL RISK. INTERNATIONAL REGULATORY BODIES, IN WHICH UNITED STATES REGULATORS PARTICIPATE, LOOK TO IFIGS TO PROVIDE OPINION AND PERSPECTIVE ON PUBLIC POLICIES AFFECTING THE INSURANCE SAFETY NET. WORKING NOW TO MAKE IFIGS AS EFFECTIVE AS POSSIBLE WILL ASSURE A PLACE FOR THE NCIGF AND NOLHGA TO PROVIDE INPUT GLOBALLY, PAYING POSITIVE LONG-TERM DIVIDENDS FOR BOTH THE U.S. CONSUMER PROTECTION SYSTEM AND INSURANCE POLICYHOLDERS AROUND THE WORLD.6) GUARANTY FUND MANAGER TRANSITIONS2018 SAW SEVERAL RETIREMENTS WITHIN THE GUARANTY FUND COMMUNITY. LEADERS WHO HAVE NOT ONLY SHAPED THE SYSTEM, BUT MANY WHO WERE PRESENT AT ITS INCEPTION, HAVE TRANSITIONED OUT OF THEIR ORGANIZATIONS. THESE DEPARTURES MEAN A LOSS OF MANY DECADES OF EXPERIENCE BUT ALSO PROVIDES THE OPPORTUNITY FOR NEW VOICES AND FRESH INSIGHTS. NCIGF HONORS THOSE WHO HAVE MOVED ON AND EMBRACES FULLY THE FRESH ENERGY AND ENTHUSIASM OFFERED BY THE NEW GENERATION OF GUARANTY FUND MANAGERS.7) LAUNCH OF THE NEW PUBLIC-FACING WEBSITENCIGF FINISHED OFF 2018 ON A HIGH NOTE, LAUNCHING A FULLY UPDATED PUBLIC FACING WEBSITE. USED BY MANY INSIDE AND OUTSIDE OF THE GUARANTY FUND COMMUNITY, THIS UPDATE HOUSES ALL THE CONTENT THAT RESIDED HERE PREVIOUSLY ACCENTUATED WITH A MORE ORGANIZED FORMAT AND MORE ROBUST SEARCH CAPABILITIES. AN UPDATED MEMBERS-ONLY SITE WILL BE RELEASED IN 2019.8) 2018 NCIGF CONFERENCES TWO CONFERENCES WERE HOSTED IN 2018: THE NCIGF ANNUAL CONFERENCE IN ALEXANDRIA, VIRGINIA, THE NCIGF FALL WORKSHOP IN FT. LAUDERDALE, FLORIDA. SEE SCHEDULE O FOR CONTINUED 2018 ACCOMPLISHMENTS9) SPECIAL FUNDING COMMITTEE: WORKING TO ENSURE GUARANTY FUND READINESSCREATED IN 2015 BY THE NCIGF BOARD OF DIRECTORS, THE NCIGF SPECIAL FUNDING COMMITTEE (SFC) IS CHARGED WITH ENSURING THE ONGOING FUNDING OF THE PROPERTY AND CASUALTY GUARANTY FUND SYSTEM AND KEEPING THE SYSTEM IN A STATE OF OPERATIONAL AND FINANCIAL READINESS REGARDLESS OF THE VOLUME OF INSOLVENCY ACTIVITY. COMPRISED OF INDUSTRY AND GUARANTY FUND REPRESENTATIVES, THE SFC THROUGHOUT 2017 CONTINUED ITS WORK TO FULFILL KEY CHARGES BY IDENTIFYING NEEDED CHANGES TO EXISTING POLICIES, LAWS AND PRACTICES IN THE GUARANTY FUND SYSTEM, ALL WITH THE GOAL OF DELIVERING ONGOING RESOLUTION SYSTEM READINESS.10) 2017 NCIGF CONFERENCES THREE CONFERENCES WERE HOSTED IN 2017: THE NCIGF ANNUAL CONFERENCE IN MINNEAPOLIS, MINNESOTA, THE NCIGF LEGAL SEMINAR IN NEW YORK, NEW YORK AND THE NCIGF FALL WORKSHOP IN ST. 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SEC. 40.00 X 123463 0 24162 ROBERT N CREWS VP V.P.-GUARANTY FUND SERVICE 40.00 X 129673 0 22794 1145483 0 160198 7 0 1 0 FAEGRE BAKER DANIELS 300 N MERIDIAN ST INDIANAPOLIS IN 46204 FEDERAL EDUCATION SERVICES 440203 LOCKE LORD LLP 111 SOUTH WACKER DR CHICAGO IL 60606 LEGAL CONSULTING SERVICES 175993 2 MEMBERSHIP DUES & ASSE 900099 3930321 3930321 REGISTRATION INCOME-WO 900099 111210 111210 4041531 75471 75471 4117002 4041531 0 75471 1305682 334592 216682 145214 112620 439182 85715 2979 214746 82772 70976 115156 170119 277794 19382 79524 DUES & SUB. 63183 UNRELATED BUSINESS INCO 5625 3741943 250 250 2440003 2693438 171677 38462 50797 97997 440431 355508 35001 84923 151290 154450 4702577 132385 7551595 3201905 4777377 204384 1131299 937222 5908676 1141606 X 1642919 2060299 1642919 2060299 7551595 3201905 X 375059 42321 X X 0 1 X 1 0 0 0 0 3930321 2979 2979 0 2979 440431 355508 84923 84923 DEFERRED COMPENSATION 154450 PENSION LONG TERM LIABILITY 782772 937222 X 4159323 42321 42321 4117002 0 4117002 3741943 0 3741943 0 3741943 PART X, LINE 2: NOTE TO CONSOLIDATED FINANCIAL STATEMENTS NCIGF IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN RECOGNIZED AS TAX-EXEMPT PURSUANT TO SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (IRC). AS SUCH, NCIGF IS GENERALLY EXEMPT FROM INCOME TAXES. NCIGF IS REQUIRED TO FILE FEDERAL FORM 990 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, WHICH IS AN INFORMATIONAL RETURN ONLY. HOWEVER, SECTION 6033(E) OF THE IRC DEFINES LOBBYING IN A MANNER THAT INCLUDES SOME OF THE ACTIVITIES PERFORMED BY NCIGF. AS A RESULT, UNDER THE SAME SECTION, NCIGF IS REQUIRED TO EITHER REPORT THE TOTAL AMOUNT OF EXPENSES RELATED TO SUCH ACTIVITIES TO ITS MEMBERS AS NONDEDUCTIBLE FOR FEDERAL INCOME TAX PURPOSES OR PAY A PROXY INCOME TAX. NCIGF HAS ELECTED TO PAY A PROXY INCOME TAX. THE PROXY TAX EXPENSE WAS APPROXIMATELY $5,600 AND $4,400 FOR 2018 AND 2017, RESPECTIVELY. GSI IS A TAXABLE ENTITY AND IS, THEREFORE, SUBJECT TO FEDERAL AND STATE INCOME TAXES. DEFERRED INCOME TAX ITEMS RELATED TO GSI ARE NOT SIGNIFICANT TO THE OVERALL CONSOLIDATED FINANCIAL STATEMENTS. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY NCIGF AND GSI AND RECOGNIZE A TAX LIABILITY IF NCIGF OR GSI HAVE TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY VARIOUS FEDERAL AND STATE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY NCIGF AND GSI, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2018 AND 2017, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. NCIGF AND GSI ARE SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. X X X X 0 0 0 ROGER H SCHMELZER PRESIDENT PRESIDENT, CEO 251083 0 77915 0 26159 0 12375 0 21473 0 389005 0 0 0 AMY J CLARK VP V.P.-CFO 136031 0 33000 0 988 0 7794 0 8780 0 186593 0 0 0 BARBARA F COX SVP S.V.P.-LEGAL&REGULATORY 164758 0 33000 0 3429 0 9507 0 26460 0 237154 0 0 0 ANDREW D HOLLADAY VP V.P.-CIO 133307 0 32000 0 677 0 6957 0 19896 0 192837 0 0 0 ROBERT N CREWS VP V.P.-GUARANTY FUND SERVICE 86603 0 40470 0 2600 0 5123 0 17671 0 152467 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 NCIGF IS A MEMBERSHIP ASSOCIATION OF POST-ASSESSMENT AND PRE-ASSESSMENT PROPERTY AND CASUALTY INSURANCE GUARANTY FUNDS WHICH ARE FUNDS ESTABLISHED BY THE LAWS OF THE VARIOUS STATES AND THE DISTRICT OF COLUMBIA. THE TERM "GUARANTY FUNDS" INCLUDES "GUARANTY ASSOCIATIONS", "INSOLVENCY FUNDS", "SECURITY FUNDS", OR ANY OTHER LEGISLATIVELY MANDATED MECHANISM CREATED TO PROVIDE PROTECTION AGAINST THE INSOLVENCY OF LICENSED PROPERTY AND CASUALTY INSURERS. FORM 990, PART VI, SECTION A, LINE 7A THE NOMINATING COMMITTEE NOMINATES INDIVIDUALS FOR POSITIONS ON THE BOARD OF DIRECTORS THAT BECOME VACANT PRIOR TO THE ANNUAL MEETING. INDIVIDUALS MAY ALSO BE NOMINATED BY ONE MEMBER AND SECONDED BY TWO OTHER MEMBERS OR NOMINATED FROM THE FLOOR BY A 2/3 VOTE AT THE ANNUAL MEETING OF MEMBERS. THE MEMBERS ELECT NOMINEES TO THE BOARD OF DIRECTORS AT THE ANNUAL MEETING OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGE TO THE CORPORATE BYLAWS REQUIRES APPROVAL OF A MAJORITY OF NCIGF MEMBER GUARANTY FUNDS. FORM 990, PART VI, SECTION B, LINE 11B THE PROCESS FOR REVIEW THE FORM 990 INCLUDES A REVIEW BY THE TREASURER, AUDIT COMMITTEE, AND BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE WRITTEN CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED AND COMPLIANCE ENFORCED BY THE PRESIDENT AND CEO. THE SCOPE OF THE CONFLICT OF INTEREST POLICY INCLUDES OFFICERS, DIRECTORS, TRUSTEES, AND EMPLOYEES. ANNUALLY, THE PRESIDENT DELIVERS THE POLICY TO EACH INDIVIDUAL. EMPLOYEES ARE REQUIRED TO FILL OUT AND SUBMIT A CONFLICT OF INTEREST FORM. ANY INSTANCES OF NONCOMPLIANCE WITH THE POLICY ARE TO BE PROMPTLY REPORTED TO THE BOARD. BOARD MEMBERS WITH POTENTIAL OR ACTUAL CONFLICTS OF INTEREST ARE TO REFRAIN FROM PARTICIPATING IN ANY DELIBERATION OR DECISIONS ON SUCH TRANSACTIONS WHICH IS NOTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE CHIEF EXECUTIVE AND OTHER OFFICERS INCLUDES A REVIEW AND APPROVAL BY THE INDEPENDENT EXECUTIVE COMMITTEE MEMBERS OF THE BOARD OF DIRECTORS; COMPARABLE DATA FROM AN INDEPENDENT AND EXTERNAL HUMAN RESOURCE CONSULTANT IS CONDUCTED AND REVIEWED BY THE EXECUTIVE COMMITTEE; AND DOCUMENTATION ON THE DELIBERATION AND DECISION OF THE COMPENSATION ARRANGEMENTS ARE RECORDED IN THE MINUTES OF THE ORGANIZATION. NCIGF DOES NOT HAVE ANY EMPLOYEES THAT MEET THE FORM 990 KEY EMPLOYEE DEFINITION, BUT A SIMILAR PROCESS IS CONDUCTED FOR TOP MANAGEMENT POSITIONS OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 NCIGF GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS WOULD BE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGES IN DEFINED BENEFIT PENSION 42,321. FORM 990, PART XI, LINE 2C, OVERSIGHT OF AUDIT THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT; AND, NO PROCESSES HAVE CHANGED FROM PRIOR YEAR. GUARANTY SUPPORT INC 300 N MERIDIAN ST STE 1020 INDIANAPOLIS IN 46204 352542172 TECHNOLOGY AND CONSULTING SERVICES IL NATIONAL CONFERENCE OF INSURANCE GUARANTEE FUNDS INC C 483936 123953 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0