Insurance companies (61 - 70 of 103 items)
Long-Term Care Insurance: Risks to Consumers Should Be Reduced
T-HRD-91-14: Published: Apr 11, 1991. Publicly Released: Apr 11, 1991.
GAO discussed long-term care insurance policies, focusing on whether: (1) states and insurers met National Association of Insurance Commissioners (NAIC) standards; (2) consumer protection issues were adequately addressed; and (3) there was a need for minimum federal standards. GAO noted that: (1) while states made substantial progress in adopting long-term care insurance standards, many states sti...
Insurance Industry: Questions and Concerns About Solvency Regulation
T-GGD-91-10: Published: Feb 27, 1991. Publicly Released: Feb 27, 1991.
GAO discussed the condition and regulation of the insurance industry, focusing on the: (1) financial condition parallels existing between the insurance industry and the savings and loan industry; and (2) quality of insurance regulation and oversight. GAO noted that: (1) although the insurance industry had not experienced the difficulties that the savings and loan industry had, failed firms in both...
Insurance Regulation: The Insurance Regulatory Information System Needs Improvement
GGD-91-20: Published: Nov 21, 1990. Publicly Released: Nov 21, 1990.
Pursuant to a congressional request, GAO reviewed the effectiveness and reliability of the National Association of Insurance Commissioners' (NAIC) Insurance Regulatory Information System (IRIS) for early detection and warning of financially troubled property and casualty insurers.GAO found that: (1) state insurance regulators and industry officials had varying opinions about IRIS effectiveness and...
Insurance Regulation: State Reinsurance Oversight Increased, but Problems Remain
GGD-90-82: Published: May 4, 1990. Publicly Released: May 4, 1990.
Pursuant to a congressional request, GAO reviewed property/casualty reinsurance practices and regulations, focusing on: (1) the types and limitations of reinsurance activity data available to regulators; (2) the extent of state reinsurance regulation; and (3) recent regulatory improvements.GAO found that: (1) state regulators could not adequately assess the effect of reinsurance on its participant...
Insurance Regulation: Problems in the State Monitoring of Property/Casualty Insurer Solvency
GGD-89-129: Published: Sep 29, 1989. Publicly Released: Nov 14, 1989.
Pursuant to a congressional request, GAO reviewed state monitoring of property/casualty insurer solvency, focusing on: (1) how state insurance departments detected financially troubled insurers; (2) the resources available to states for monitoring insurer solvency; and (3) the extent to which states shared information and otherwise cooperated in dealing with problem insurers.GAO found that: (1) st...
Allocation of Taxes Within the Life Insurance Industry
T-GGD-90-3: Published: Oct 19, 1989. Publicly Released: Oct 19, 1989.
GAO discussed the Internal Revenue Code (IRC), focusing on whether: (1) it adequately measured life insurance dividend earnings for taxation purposes; and (2) a predetermined split of the life insurance industry's tax bill between mutual and stock life companies at 55 percent and 45 percent, respectively, was sound tax policy. GAO noted that IRC imposed taxes that: (1) were higher for mutual compa...
Tax Policy: Allocation of Taxes Within the Life Insurance Industry
GGD-90-19: Published: Oct 19, 1989. Publicly Released: Oct 19, 1989.
Pursuant to a congressional request, GAO reviewed: (1) how section 809 of the Internal Revenue Code affected the income tax split between stock and mutual life insurance companies and within the mutual segment itself; and (2) alternative methods of taxing mutual life insurance companies.GAO found that section 809 imposed taxes that: (1) were higher for the mutual companies as a whole in years when...
Insurance: Profitability of the Automobile Lines of the Insurance Industry
GGD-90-4FS: Published: Oct 3, 1989. Publicly Released: Oct 3, 1989.
Pursuant to a congressional request, GAO examined the automobile insurance industry's profitability from 1978 through 1987.GAO found that: (1) from 1978 through 1987, the automobile insurance industry had overall profits of about $54 billion, but yielded about $22.6 billion in after-tax income after underwriting losses of over $30 billion; (2) the industry's annual after-tax earnings as a percenta...
Tax Policy: The Insurance Excise Tax and Competition for U.S. Reinsurance Premiums
GGD-89-115BR: Published: Sep 25, 1989. Publicly Released: Sep 25, 1989.
Pursuant to a congressional request, GAO examined the effects of the Tax Reform Act of 1986 on competition between U.S. and foreign property and casualty reinsurers in the U.S. market.GAO found that: (1) available data were inconclusive regarding the act's effects on the competitiveness of U.S. reinsurers in the domestic market; (2) the foreign share of the U.S. reinsurance market rose from 26.1 p...
Taxes Incurred by, and Business Trends of, the Life Insurance Industry
T-GGD-88-54: Published: Sep 27, 1988. Publicly Released: Sep 27, 1988.
GAO discussed taxation of the life insurance industry and its components. GAO noted that: (1) the Deficit Reduction Act of 1984 changed life insurance company taxation methods by eliminating distinctions between sources of income; (2) the act also reduced the amount of policyholder dividends that mutual life insurance companies could deduct; (3) the life insurance industry incurred more taxes than...