Insurance companies (41 - 50 of 103 items)
Property Insurance: Data Needed to Examine Availability, Affordability, and Accessibility Issues
RCED-94-39: Published: Feb 9, 1994. Publicly Released: Mar 11, 1994.
Pursuant to a congressional request, GAO reviewed several issues regarding property insurance in urban areas, focusing on: (1) the types of data that are currently collected for determining the availability and affordability of property insurance for urban homeowners and small businesses; (2) the types of data needed to assess these issues if available data are not adequate; and (3) options for co...
Health Insurance Regulation: Wide Variation in States' Authority, Oversight, and Resources
HRD-94-26: Published: Dec 27, 1993. Publicly Released: Jan 11, 1994.
Pursuant to a congressional request, GAO provided information on how states regulate health insurance, focusing on state insurance departments': (1) role in regulating health insurance; (2) standards and regulatory responsibilities; (3) budget and staff resources; and (4) oversight activities.GAO found that: (1) although state insurance departments are responsible for overseeing health insurers an...
Health Insurance: How Health Care Reform May Affect State Regulation
T-HRD-94-55: Published: Nov 5, 1993. Publicly Released: Nov 5, 1993.
GAO discussed states' regulation of health insurance and how proposed health care reforms could affect state health insurance regulation. GAO noted that: (1) only about 24 percent of U.S. national health expenditures are paid by state-regulated health insurers; (2) state insurance agencies commit 4 to 57 percent of their budgets to health insurance regulation; (3) many states cannot estimate the n...
Insurance Regulation: The National Association of Insurance Commissioners' Accreditation Program Continues to Exhibit Fundamental Problems
T-GGD-93-26: Published: Jun 9, 1993. Publicly Released: Jun 9, 1993.
GAO discussed the National Association of Insurance Commissioners' (NAIC) efforts to improve and standardize insurance solvency regulation. GAO noted that: (1) states have attempted to improve the quality of insurance regulation by adopting the financial regulation standards set forth in the NAIC accreditation program; (2) NAIC and its review teams have interpreted the financial regulatory standar...
Insurance Regulation: Weak Oversight Allowed Executive Life to Report Inflated Bond Values
GGD-93-35: Published: Dec 9, 1992. Publicly Released: Dec 9, 1992.
GAO reviewed the National Association of Insurance Commissioners' (NAIC) Securities Valuation Office (SVO), focusing on: (1) SVO development of ratings and values for securities; and (2) state regulators' compliance with valuation procedures.GAO found that SVO: (1) valuation criteria did not take into account all impairments of a bond's value which directly affect a company's solvency; (2) did not...
Insurer Failures: Regulators Failed to Respond in Timely and Forceful Manner in Four Large Life Insurer Failures
T-GGD-92-43: Published: Sep 9, 1992. Publicly Released: Sep 9, 1992.
GAO discussed the failures of four large insurance companies and the effectiveness of state solvency regulation of those companies. GAO noted that: (1) the four insurers failed due mainly to poorly controlled growth and risky investments; (2) their internal controls and governance were very weak; and (3) the four insurers received millions of dollars in surplus relief from their parent holding com...
Long-Term Care Insurance: Actions Needed to Reduce Risks to Consumers
T-HRD-92-44: Published: Jun 23, 1992. Publicly Released: Jun 23, 1992.
GAO discussed its recent studies of long-term care insurance. GAO noted that: (1) many consumers are vulnerable to considerable risks in purchasing long-term care insurance because states have not adopted optional standards drafted by a national insurance industry association; (2) insurance companies have adopted the standards more quickly than states, but most policies reviewed did not meet the s...
Long-Term Care Insurance: Better Controls Needed to Protect Consumers
T-HRD-92-31: Published: May 20, 1992. Publicly Released: May 20, 1992.
GAO discussed long-term care insurance policies and the standards developed by the National Association of Insurance Commissioners (NAIC) that govern them. GAO noted that: (1) consumers purchasing long-term care insurance are still vulnerable to considerable risks, because many states have not adopted minimum NAIC regulatory standards and some NAIC standards fail to sufficiently address long-term...
Access to Health Insurance: States Attempt to Correct Problems in Small Business Health Insurance Market
T-HRD-92-30: Published: May 14, 1992. Publicly Released: May 14, 1992.
GAO discussed state efforts to improve the availability and affordability of health insurance for small businesses. GAO noted that: (1) 43 states have initiated one or more insurance regulatory reforms aimed at improving access to affordable health insurance for small firms and their employees; (2) nearly half of the states have passed legislation reducing or eliminating mandated benefits and now...
Insurer Failures: Life/Health Insurer Insolvencies and Limitations of State Guaranty Funds
GGD-92-44: Published: Mar 19, 1992. Publicly Released: Apr 28, 1992.
Pursuant to a congressional request, GAO reviewed: (1) life and health insurance company failures; and (2) the protection available to policyholders when a failure occurs.GAO found that: (1) since 1982, the average number of insolvencies in the life and health insurance industry has more than tripled to almost 18 per year, with 47 insolvencies occurring in 1989 and 27 in 1990; (2) between 1975 and...