To increase assurance that Aurora follows key provisions in the ELIC agreements, the commissioner should seek the right to review Aurora?s future distributions of ELIC estate funds and review those distributions to ensure that it adds the proper amount of interest to the funds, and distributes the funds correctly.
The CLO sent a written request seeking the right to review future distributions to Aurora and the national guaranty organization on February 27, 2008. Although discussions with Aurora continue, Aurora has not made a commitment to fulfill the CLO?s request. There have been no subsequent distributions for the CLO to review. Future distributions, if any, are dependent on the outcome of pending litigation. (See 2010-406 p. 56)
Agency responses received after June 2013 are posted verbatim.