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Financial management (11 - 18 of 18 items)
Insurance Regulation: Assessment of the National Association of the Insurance Commissioners
T-GGD-91-37: Published: May 22, 1991. Publicly Released: May 22, 1991.
GAO discussed the National Association of Insurance Commissioners' (NAIC) capability to establish and maintain an effective national insurance solvency regulation system. GAO noted that: (1) NAIC could not effectively establish such a system, since it did not have the necessary authority to require states to adopt and enforce its standards; (2) empowerment by the states would require each state to...
Insurance Regulation: State Handling of Financially Troubled Property/Casualty Insurers
GGD-91-92: Published: May 21, 1991. Publicly Released: May 22, 1991.
Pursuant to a congressional request, GAO examined how states dealt with financially troubled property and casualty insurers.GAO found that: (1) state regulators used informal actions, formal regulatory actions, rehabilitation, or liquidation to correct financially troubled property and casualty insurers; (2) in 71 percent of failed insurer cases, state insurance regulators delayed regulatory or re...
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...
Insurer Failures: Property/Casualty Insurer Insolvencies and State Guaranty Funds
GGD-87-100: Published: Jul 28, 1987. Publicly Released: Jul 28, 1987.
In response to a congressional request, GAO provided information on property/casualty insurance company insolvencies, specifically the: (1) incidence of insolvencies; (2) characteristics of selected insolvent companies; and (3) system of state guarantee funds established to pay claims against insolvent insurance companies.GAO found that: (1) the incidence of insolvencies has generally followed the...
Profitability of the Property/Casualty Insurance Industry
129369: Mar 13, 1986
GAO provided background information on: (1) property/casualty insurance company pricing strategies; (2) a financial overview of the industry; and (3) the financial impact of certain liability insurance lines. A property/casualty company derives its income from underwriting and investment gains. In past years, investment gains have exceeded underwriting losses by a fairly wide margin; however, in r...