Michael Hogan

Background

About Michael Hogan

Participated in the Risk Assessment Working Group within the NAIC. Provide input on areas and direction of the working group. • Participated in a pilot examination utilizing the risk focus examination approach. • Working with the Receiverships section. Assisting the Director of Receiverships, with the execution of implementing Chapter 81 of the Michigan Insurance Code. Functioning in the capacity of Deputy Rehabilitator for a financially significant health insurance company along with the Director of Receiverships. Responsible for the marshalling of all company assets, including the managing of $75 million in cash, short-term investments, and bond portfolio. Managed over 250 personnel at one time during the rehabilitation. Participated in the negotiations and conclusion of the sale or transfer of various lines of business, including individual medical individual policies), small group medical (1,700 small groups affecting individuals), dental and vision, group life, medicare supplemental, and smaller lines of business. Involved in the review of the reserves for claims. Responsible for the oversight of all cash disbursements, including the claims payment process and administrative expenses. Involved in the monthly financial reporting oversight. Have participated in legal negotiations with general counsel regarding litigation issues. • Participated in limited scope IT examinations of companies. In we reviewed several companies to assess Y2K compliance. Went onsite to review the procedures companies had taken to ensure they would not have issues related to Y2K. • Member of the Society of Financial Examiners (SOFE) with the Certified Financial Examiner designation. • System Implementation – Assisted in the change over from one system (MSA) to another (S2K). Performed mapping of the system along with the balancing of the system at conversion.