When insurance companies face the prospect of regulatory takeover, whether it be rehabilitation or liquidation, unique needs are created. Insolvency solutions are a specialized service Strohm Ballweg has developed to work with regulators and the National Organization of Life and Health Guaranty Associations (NOLHGA).
Mark Femal, former Executive Director of the Wisconsin Insurance Security Fund, leads the Strohm Ballweg group in this work. We provide financial and system analysis during the rehabilitation period and then financial coordination with all affected guaranty associations should a company be ordered into liquidation. This financial coordination includes premium processing, claim payment reports, claim audits, reinsurance reporting, policy termination (as required by policy or by statute), coordination of assumption agreements, and coordinating with the receiver/liquidator. All of this work is handled in a professional and efficient manner with the intention of making sure the insureds are taken care of in the best possible manner - a hallmark of the insurance insolvency system.