Notes Completed By Chapter 1 – Takeover & Administration ...

REV

ISIO

NS

as a

dopt

ed 1

1-10

-15

by th

e R

TAW

G

Rece

iver

s Han

dboo

k fo

r Ins

uran

ce C

ompa

ny In

solv

enci

esC

hapt

er 1

– T

akeo

ver &

Adm

inis

tratio

n

In o

rder

to e

ffect

ivel

y ut

ilize

the

follo

win

g pr

e-re

ceiv

ersh

ip p

roce

dure

s, it

is re

com

men

ded

to fi

rst d

iffer

entia

te b

etw

een

a sta

nd-a

lone

ent

ity a

nd a

gro

up. T

o m

ake

the

best

judg

emen

t, ev

alua

te th

e ty

pe o

f the

ent

ity a

nd c

hoos

e th

e ap

plic

able

com

pone

ntso

f the

che

cklis

t.

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esIN

ITIA

L ST

EPS

Ass

ign

take

over

resp

onsi

bilit

ies f

or e

ach

of th

e in

sure

r’s

depa

rtmen

ts/fu

nctio

nal a

reas

to a

n ap

prop

riate

repr

esen

tativ

e of

the

Rec

eive

r’s t

eam

and

dis

tribu

te c

heck

lists

acc

ordi

ngly

.

Und

erta

ke a

thor

ough

revi

ew o

f ava

ilabl

e in

form

atio

n pe

rtain

ing

to

the

insu

rer,

its o

pera

tions

and

a d

escr

iptio

n of

cor

e lin

es o

f bus

ines

s to

obt

ain

a de

taile

d un

ders

tand

ing

of th

e in

sure

r to

assi

st th

e re

ceiv

er in

plan

ning

an e

ffic

ient

and

eff

ectiv

e ta

keov

er.

Rev

iew

com

mer

cial

pub

licat

ion

repo

rts su

ch a

s A.M

. Bes

t, D

unn

&

Bra

dstre

et, S

tand

ard

& P

oor’

s, an

d M

oody

’s in

ord

er to

obt

ain

an

over

view

of t

he in

sure

r.

REG

ULA

TOR

S A

ND

SU

PER

VIS

OR

S

Det

erm

ine

the

iden

titie

s an

d co

ntac

t in

form

atio

n of

all

rele

vant

su

perv

isor

y au

thor

ities

.(i.

e.

from

m

ost

curr

ent

anal

ysis

, ex

amin

atio

n or

supe

rvis

ory

colle

ge in

form

atio

n)

Secu

reco

ntac

t inf

orm

atio

n fo

r th

e pe

rson

(s)

at th

e D

epar

tmen

t of

Insu

ranc

ere

spon

sibl

e fo

rove

rsig

ht o

fthi

s com

pany

.

Rec

eive

r’s s

taff

shou

ld m

eet w

ith th

e D

epar

tmen

t of I

nsur

ance

to

obta

in b

ackg

roun

d in

form

atio

n an

d sp

ecifi

c is

sues

with

the

insu

rer.

CO

MPA

NY

INFO

RM

ATI

ON

& O

VER

VIE

W

Obt

ain

over

view

of t

he in

sure

r’s s

ituat

ion,

incl

udin

g ty

pe o

f pr

ocee

ding

and

tim

ing

of ta

keov

er.

© 2015 National Association of Insurance Commissioners 1

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esO

btai

n fr

om th

e D

epar

tmen

t of I

nsur

ance

Its

mos

t rec

ent e

xam

inat

ion

wor

k pa

pers

,tT

he in

sure

r’s m

ost r

ecen

t ann

ual a

nd q

uarte

rly st

atem

ents

,aA

udite

d fin

anci

al st

atem

ents

with

aud

itor’

s opi

nion

,aA

ctua

rial c

ertif

icat

ions

,aA

ny S

EC fi

lings

,tT

ax re

turn

s and

any

oth

er fi

nanc

ial s

tate

men

ts.,

Hol

ding

Com

pany

Ana

lysi

s,M

ost r

ecen

t Ins

urer

Pro

file

Sum

mar

y,M

ost r

ecen

t Hol

ding

Com

pany

Reg

istra

tion

Stat

emen

t and

re

late

d fil

ing

(For

m B

, For

m F

, etc

.)

Obt

ain

copi

es o

f any

oth

er in

sure

r doc

umen

ts h

eld

by th

e D

epar

tmen

t suc

h as

insu

rer c

harte

r, by

-law

s, Fo

rm A

’s a

nd o

ther

ap

plic

atio

ns, e

tc.

Obt

ain

list o

f man

agem

ent,

incl

udin

g of

ficer

s and

dire

ctor

s,al

ong

with

bio

grap

hica

l aff

idav

its o

n fil

e w

ith th

e D

epar

tmen

t.

© 2015 National Association of Insurance Commissioners 2

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

REV

ISIO

NS

as a

dopt

ed 1

1-10

-15

by th

e R

TAW

G

Rece

iver

s Han

dboo

k fo

r Ins

uran

ce C

ompa

ny In

solv

enci

esC

hapt

er 1

– T

akeo

ver &

Adm

inis

tratio

n

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esO

btai

n or

pre

pare

an

orga

niza

tion

char

t of t

he in

sure

r and

its

subs

idia

ries a

nd a

ffili

ates

. A d

escr

iptio

n of

the

com

pany

’s

orga

niza

tiona

l stru

ctur

e, in

clud

ing:

1)A

hie

rarc

hica

l lis

t of a

ll m

ater

ial e

ntiti

es w

ithin

the

com

pany

’s o

rgan

izat

ion

(incl

udin

g le

gal e

ntiti

es th

at

dire

ctly

or i

ndire

ctly

hol

d su

ch m

ater

ial e

ntiti

es) t

hat

iden

tifie

s:a)

The

hold

er o

f eac

h le

gal e

ntity

and

fore

ign

offic

e,

b)D

iffer

entia

te b

etw

een

stan

d-al

one

and

grou

pc)

The

loca

tion,

juris

dict

ion

of in

corp

orat

ion,

lic

ensi

ng, a

nd k

ey m

anag

emen

t ass

ocia

ted

with

ea

ch m

ater

ial l

egal

ent

ity a

nd fo

reig

n of

fice

iden

tifie

d.d)

Whe

ther

the

com

pany

util

izes

any

third

par

ty

vend

ors (

affil

iate

d or

una

ffili

ated

) In

vest

men

t man

ager

,M

anag

ing

Gen

eral

Age

nts (

MG

A),

Third

Par

ty

Adm

inis

trato

rs (T

PA),

Indi

vidu

al P

ract

ice

Ass

ocia

tions

(IPA

)R

eins

uran

ce in

term

edia

rye)

Wor

king

rela

tions

hips

with

Prof

essi

onal

Em

ploy

er O

rgan

izat

ions

(PEO

) A

dmin

istra

tive

Serv

ices

Org

aniz

atio

ns (A

SO)

f)Id

entif

y if

a pr

emiu

m fi

nanc

e co

mpa

ny is

bei

ng

utili

zed

for a

ny m

ater

ial c

ontra

cts,

such

as t

he

D&

O p

olic

y.1)

2)A

map

ping

of t

he c

ompa

ny’s

crit

ical

ope

ratio

ns

and

core

bus

ines

s lin

es, i

nclu

ding

mat

eria

l ass

et h

oldi

ngs

and

liabi

litie

s rel

ated

to su

ch c

ritic

al o

pera

tions

and

cor

e lin

es o

f bus

ines

s, to

mat

eria

l ent

ities

.

© 2015 National Association of Insurance Commissioners 3

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esO

btai

n de

scrip

tion

and

revi

ew fo

reig

n op

erat

ions

.

Obt

ain

desc

riptio

n of

the

corp

orat

e go

vern

ance

stru

ctur

e an

d pr

oces

ses r

elat

ed to

reso

lutio

n pl

anni

ng.

If po

ssib

le, o

btai

n al

l of t

he a

bove

for a

ny a

ffili

ated

com

pani

es th

at

mig

ht b

e af

fect

ed b

y th

e ta

keov

er su

ch a

s par

ent,

affil

iate

s and

/or

subs

idia

ries.

Obt

ain

a de

taile

d in

vent

ory

and

desc

riptio

n of

the

key

man

agem

ent i

nfor

mat

ion

syst

emsa

nd a

pplic

atio

ns, i

nclu

ding

th

ose

for r

isk

man

agem

ent,

polic

y an

d cl

aim

s adm

inis

tratio

n,

rein

sura

nce,

and

finan

cial

and

regu

lato

ry a

ccou

ntin

g, u

sed

by

the

com

pany

and

its m

ater

ial e

ntiti

es.

Dra

ft a

desc

riptio

n of

eac

h sy

stem

or a

pplic

atio

n pr

ovid

ed to

iden

tify

the

lega

l ow

ner o

r lic

enso

r, th

e us

e or

func

tion

of th

e sy

stem

or a

pplic

atio

n, se

rvic

e le

vel a

gree

men

ts re

late

d th

eret

o,

any

softw

are

and

syst

em li

cens

es, a

nd a

ny in

telle

ctua

l pro

perty

as

soci

ated

ther

ewith

.O

btai

n de

tail

on th

e co

mpa

ny’s

syst

em b

ack-

up p

roce

dure

s. In

clud

e in

form

atio

n on

the

follo

win

g:

oFr

eque

ncy

of b

ack-

up a

nd so

ftwar

e/m

etho

ds u

sed

for

back

up p

roce

ss.

oLo

catio

n of

any

off

-site

stor

age

and

freq

uenc

y of

bac

k-up

re

stor

ed o

ff-s

ite.

oD

ate

of o

ldes

t bac

k-up

.o

Dat

e of

mos

t rec

ent b

ack-

up.

Obt

ain

an id

entif

icat

ion

of th

e sc

ope,

con

tent

, and

freq

uenc

y of

the

key

inte

rnal

repo

rts th

at se

nior

man

agem

ent u

ses t

o m

onito

r the

fin

anci

al h

ealth

, ris

ks, a

nd o

pera

tions

of th

e co

mpa

ny, i

ts m

ater

ial

entit

ies,

criti

cal o

pera

tions

and

cor

e lin

es o

f bus

ines

s.

© 2015 National Association of Insurance Commissioners 4

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

REV

ISIO

NS

as a

dopt

ed 1

1-10

-15

by th

e R

TAW

G

Rece

iver

s Han

dboo

k fo

r Ins

uran

ce C

ompa

ny In

solv

enci

esC

hapt

er 1

– T

akeo

ver &

Adm

inis

tratio

n

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esR

evie

w t

he p

roce

sses

the

com

pany

em

ploy

s for

:

1)D

eter

min

ing

the

curr

ent m

arke

t val

ues a

nd m

arke

tabi

lity

ofth

e co

re li

nes o

f bus

ines

s, cr

itica

l ope

ratio

ns, a

nd m

ater

ial

asse

t hol

ding

s of t

he c

ompa

ny;

2)A

sses

sing

the

feas

ibili

ty o

f the

com

pany

’s p

lans

for

exec

utin

g an

y sa

les,

dive

stitu

res,

rest

ruct

urin

gs,

reca

pita

lizat

ions

, or o

ther

sim

ilar a

ctio

ns; a

nd1)

3)A

sses

sing

the

impa

ct o

f any

sale

s, di

vest

iture

s, re

stru

ctur

ings

, rec

apita

lizat

ions

, or o

ther

sim

ilar a

ctio

ns o

n th

e va

lue,

fund

ing,

and

ope

ratio

ns o

f the

com

pany

, its

m

ater

ial e

ntiti

es, c

ritic

al o

pera

tions

and

cor

e bu

sine

ss li

nes.

Obt

ain

a de

scrip

tion

of th

e pr

oces

s for

the

appr

opria

te su

perv

isor

y or

regu

lato

ry a

genc

ies t

o ac

cess

the

man

agem

ent i

nfor

mat

ion

syst

ems a

nd a

pplic

atio

ns.

Obt

ain

a m

appi

ng o

f the

key

man

agem

ent i

nfor

mat

ion

syst

em/a

pplic

atio

n to

the

mat

eria

l ent

ities

, crit

ical

ope

ratio

ns a

ndco

re li

nes o

f bus

ines

s of t

he c

ompa

ny th

at u

se o

r rel

y on

them

.

Obt

ain

info

rmat

ion

on re

mot

e ac

cess

to c

ompa

ny m

anag

emen

t in

form

atio

n sy

stem

s (e.

g., W

ho h

as a

cces

s? H

ow is

rem

ote

acce

ss

impl

emen

ted

and

man

aged

?)

Obt

ain

info

rmat

ion

rega

rdin

g lo

catio

n of

off

ices

and

stor

age

faci

litie

s, st

affin

g an

d ho

w to

dea

l with

sate

llite

off

ices

.

Obt

ain

info

rmat

ion

on o

ffic

e la

yout

s and

secu

rity

issu

es.

Pre-

insp

ect p

rem

ises

if p

ossi

ble.

© 2015 National Association of Insurance Commissioners 5

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esO

btai

n in

form

atio

n on

rela

ted

party

tran

sact

ions

and

agr

eem

ents

, in

clud

ing

leas

es, s

ervi

ce a

gree

men

ts, a

gree

men

ts c

onta

inin

g co

llate

ral c

alls

, and

ow

ners

hip

of sh

ared

ass

ets,

incl

udin

g pe

rson

nel.

Obt

ain

info

rmat

ion

on it

ems t

hat w

ill a

ffec

t im

med

iate

ope

ratio

nal

need

s suc

h as

leas

es (i

nclu

ding

thos

e on

com

pute

rs),

tele

phon

es,

Web

site

s, su

pply

ven

dors

and

key

per

sonn

el.

Obt

ain

info

rmat

ion

on a

gent

s, TP

As,

adm

inis

trato

rs, M

GA

s, in

term

edia

ries a

nd re

insu

rers

, inc

ludi

ng lo

catio

ns a

nd c

onta

cts.

Obt

ain

info

rmat

ion

on a

udito

rs/a

ccou

ntan

ts a

nd a

ttorn

eys.

Req

uest

info

rmat

ion

rela

ting

to p

ayro

ll an

d em

ploy

ee b

enef

its. I

s pa

yrol

l han

dled

inte

rnal

ly o

r by

a pa

yrol

l pro

vide

r? H

ow fr

eque

ntly

is

pay

roll

mad

e? If

it is

han

dled

by

a pa

yrol

l pro

vide

r, ob

tain

the

nam

e of

the

prov

ider

. Wha

t typ

es o

f ben

efits

doe

s the

com

pany

pr

ovid

e to

its e

mpl

oyee

s (40

1K, h

ealth

insu

ranc

e, e

tc.)?

Iden

tify

bank

ing

rela

tions

hips

and

obt

ain

info

rmat

ion

on b

ank

acco

unts

, fin

anci

al in

stitu

tions

and

secu

ritie

s cus

todi

ans (

incl

udin

g Fe

dera

l Hom

e Lo

an B

ank

agre

emen

ts, i

f app

licab

le).

This

in

form

atio

n sh

ould

incl

ude

the

bank

con

tact

’s n

ame

and

title

, the

br

anch

add

ress

, and

the

cont

act’s

info

rmat

ion

(pho

ne, f

ax, e

mai

l ad

dres

s, et

c.).

Obt

ain

info

rmat

ion

on li

cens

es in

oth

er st

ates

, sta

tuto

ry d

epos

its,

spec

ial d

epos

its a

nd c

omm

unic

atio

ns w

ith o

ther

stat

es.

Det

erm

ine

any

poss

ible

gua

rant

y/fu

ndas

soci

atio

n in

volv

emen

t. C

onta

ct N

CIG

F an

d/or

NO

LHG

A if

insu

rer w

as li

cens

ed in

m

ultip

le st

ates

.If g

uara

nty

fund

s/as

soci

atio

ns a

re in

volv

ed,

adva

nced

pla

nnin

g fo

r the

tran

sitio

n of

cla

ims d

ata

and

file

info

rmat

ion

is e

ssen

tial.

Plea

se se

e C

hapt

er 6

of th

e R

ecei

vers

H

andb

ook

for a

dditi

onal

info

rmat

ion.

© 2015 National Association of Insurance Commissioners 6

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

REV

ISIO

NS

as a

dopt

ed 1

1-10

-15

by th

e R

TAW

G

Rece

iver

s Han

dboo

k fo

r Ins

uran

ce C

ompa

ny In

solv

enci

esC

hapt

er 1

– T

akeo

ver &

Adm

inis

tratio

n

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esFI

NA

NC

IAL

INFO

RM

ATI

ON

Rev

iew

and

ana

lyze

insu

rer’

s ann

ual s

tate

men

t bal

ance

shee

t by

line

item

to o

btai

n as

muc

h in

form

atio

n as

pos

sibl

e ab

out t

he a

sset

s an

d lia

bilit

ies,

incl

udin

g an

y su

bseq

uent

eve

nts,

pote

ntia

l pr

oble

ms/

unus

ual c

ircum

stan

ces a

nd sp

ecia

l ite

ms i

n th

e Ex

amin

er’s

repo

rt fo

r eac

h lin

e ite

m.

Obt

ain

or d

evel

op a

n un

cons

olid

ated

bala

nce

shee

t for

the

com

pany

an

d a

cons

olid

atin

g sc

hedu

le fo

r all

mat

eria

l ent

ities

that

are

subj

ect

to c

onso

lidat

ion

by th

e co

mpa

ny.

Als

o in

clud

e re

ques

t fro

m m

ost r

ecen

t exa

m, C

PA w

orkp

aper

s or

rece

nt a

naly

sis.

Obt

ain

a de

scrip

tion

of th

e m

ater

ial c

ompo

nent

s of t

he li

abili

ties o

f th

e co

mpa

ny, i

ts m

ater

ial e

ntiti

es, c

ritic

al o

pera

tions

and

cor

e lin

es

of b

usin

ess t

hat s

epar

atel

y id

entif

ies t

ypes

and

am

ount

s of s

hort-

term

and

long

-term

liab

ilitie

s, an

d se

cure

d, u

nsec

ured

, and

su

bord

inat

ed li

abili

ties.

Req

uest

cla

im in

form

atio

n fo

r the

com

pany

, to

incl

ude

aver

ages

of

coun

t of c

laim

s/ye

ar, t

otal

am

ount

in c

laim

pay

men

ts/y

ear,

and

fund

ing

mec

hani

sm(s

) for

cla

im p

aym

ents

.

Rev

iew

fina

ncia

l inf

orm

atio

n re

gard

ing

the

com

pany

’s c

apita

l po

sitio

n an

d m

ajor

sour

ces o

f cap

ital a

nd fu

ndin

g.

Rev

iew

des

crip

tion

of fu

ndin

g, li

quid

ity a

nd c

apita

l nee

ds o

f, an

d re

sour

ces a

vaila

ble

to, t

he c

ompa

ny a

nd it

s mat

eria

l ent

ities

, whi

ch

shal

l be

map

ped

to it

s crit

ical

ope

ratio

ns a

nd c

ore

busi

ness

line

s.

© 2015 National Association of Insurance Commissioners 7

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esR

evie

w a

ny m

ater

ial o

ff-b

alan

ce sh

eet e

xpos

ures

(inc

ludi

ng

guar

ante

es a

nd c

ontra

ctua

l obl

igat

ions

) of t

he c

ompa

ny a

nd it

s m

ater

ial e

ntiti

es.

Rev

iew

not

es a

nd in

terr

ogat

orie

s to

finan

cial

stat

emen

ts.

DER

IVA

TIV

ES A

ND

CO

UN

TER

PAR

TY E

XPO

SUR

E

Obt

ain

info

rmat

ion

and

desc

ribe

the

prac

tices

of t

he c

ompa

ny, i

ts

mat

eria

l ent

ities

and

its c

ore

lines

of b

usin

ess r

elat

ed to

the

book

ing

of tr

adin

g of

der

ivat

ive

activ

ities

.

Iden

tify

mat

eria

l hed

ges o

f the

com

pany

, its

mat

eria

l ent

ities

, and

its

cor

e lin

es o

f bus

ines

s rel

ated

to tr

adin

g an

dde

rivat

ives

ac

tiviti

es, i

nclu

ding

a m

appi

ng to

lega

l ent

ity.

Rev

iew

the

hedg

ing

stra

tegi

es o

f the

com

pany

.

Rev

iew

the

proc

ess u

nder

take

n by

the

com

pany

to e

stab

lish

expo

sure

lim

its.

Iden

tify

the

maj

or c

ount

erpa

rties

of t

he c

ompa

ny a

nd d

escr

ibe

the

inte

rcon

nect

ions

, int

erde

pend

enci

es a

nd re

latio

nshi

ps w

ith su

ch

maj

or c

ount

erpa

rties

.

Ana

lyze

whe

ther

the

failu

re o

f eac

h m

ajor

cou

nter

party

wou

ld

likel

y ha

ve a

n ad

vers

e im

pact

on

or re

sults

in th

e m

ater

ial f

inan

cial

di

stre

ss o

r fai

lure

of t

heco

mpa

ny.

Iden

tify

each

trad

ing,

pay

men

t, cl

earin

g, o

r set

tlem

ent s

yste

m o

f w

hich

the

com

pany

, dire

ctly

or i

ndire

ctly

, is a

mem

ber a

nd o

n w

hich

the

com

pany

con

duct

s a m

ater

ial n

umbe

r or v

alue

am

ount

of

trade

s or t

rans

actio

ns. M

ap m

embe

rshi

p in

eac

h su

ch sy

stem

to th

e co

mpa

ny’s

mat

eria

l ent

ities

, crit

ical

ope

ratio

ns a

nd c

ore

lines

of

busi

ness

.

© 2015 National Association of Insurance Commissioners 8

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

REV

ISIO

NS

as a

dopt

ed 1

1-10

-15

by th

e R

TAW

G

Rece

iver

s Han

dboo

k fo

r Ins

uran

ce C

ompa

ny In

solv

enci

esC

hapt

er 1

– T

akeo

ver &

Adm

inis

tratio

n

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esId

entif

y th

e pr

oces

ses u

sed

by th

e co

mpa

ny to

:

1)D

eter

min

e to

who

m th

e co

mpa

ny h

as p

ledg

ed c

olla

tera

l;2)

Iden

tify

the

pers

on o

r ent

ity th

at h

olds

such

col

late

ral;

and

1)3)

Iden

tify

the

juris

dict

ion

in w

hich

the

colla

tera

l is

loca

ted,

and

, if d

iffer

ent,

the

juris

dict

ion

in w

hich

the

secu

rity

inte

rest

in th

e co

llate

ral i

s enf

orce

able

aga

inst

the

com

pany

.

NEX

T ST

EPS

Rev

iew

con

ditio

n an

d lo

catio

n of

insu

rer’

s boo

ks a

nd re

cord

s.

Coo

rdin

ate

with

cou

nsel

to a

ssis

t in

prep

arat

ion

of th

e pe

titio

n an

d or

der a

nd d

eter

min

e pa

rties

to b

e se

rved

.

Det

erm

ine

met

hod(

s) o

f not

ifica

tion

of v

ario

us p

artie

s in

othe

r lo

catio

ns,e

.g.,

finan

cial

inst

itutio

ns, s

ecur

ities

cus

todi

ans,

etc.

Rec

onfir

m R

ecei

vers

hip

team

ass

ignm

ents

,and

det

erm

ine

Rec

eive

rshi

p te

am n

eeds

in o

ther

loca

tions

and

logi

stic

s of g

ettin

g te

am m

embe

rs to

ass

igne

d lo

catio

ns.

If po

ssib

le a

rran

ge fo

r a m

eetin

g w

ith m

anag

emen

t to

disc

uss

ram

ifica

tions

and

pro

cedu

res.

Prep

are

agen

da fo

r mee

ting

with

insu

rer p

erso

nnel

(or m

emo

for

dist

ribut

ion

to p

erso

nnel

) tha

t dis

cuss

es ra

mifi

catio

ns o

f ord

er a

nd

proc

edur

es to

be

impl

emen

ted.

Prep

are

phon

e sc

ripts

for c

usto

mer

serv

ice

repr

esen

tativ

es.

Prep

are

info

rmat

ion

to b

e po

sted

on

Web

site

s.

Prep

are

notic

es fo

r pos

ting

on o

ffic

e do

ors a

s may

be

requ

ired.

© 2015 National Association of Insurance Commissioners 9

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15

Che

cklis

t 1—

Pre-

Tak

eove

rPr

ojec

t A

ssig

ned

To

Dat

e C

ompl

eted

Com

plet

ed

By

Not

esD

eter

min

e if

secu

rity

serv

ice

is re

quire

d an

d hi

re a

s nee

ded.

Det

erm

ine

freq

uenc

y of

Rec

eive

r tea

m m

eetin

gs a

fter t

akeo

ver a

nd

met

hod

of c

omm

unic

atin

g is

sues

to te

am/R

ecei

ver a

nd th

e de

cisi

on-m

akin

g pr

oces

s.

Con

tact

app

licab

le g

uara

nty

asso

ciat

ion(

s) a

s ear

ly a

s pos

sibl

e.

© 2015 National Association of Insurance Commissioners 10

Attachment Two Receivership and Insolvency (E) Task Force

11/20/15