Insurance premiums (21 - 30 of 37 items)
Long-Term Care Insurance: Risks to Consumers Should Be Reduced
HRD-92-14: Published: Dec 26, 1991. Publicly Released: Dec 26, 1991.
Pursuant to a congressional request, GAO reviewed long-term care insurance policies, focusing on: (1) the extent to which state standards and long-term care insurance policies meet the National Association of Insurance Commissioners (NAIC) standards; (2) whether such standards and policies adequately address consumer protection issues; and (3) whether minimum federal standards are needed.GAO found...
Long-Term Insurance: Consumers Lack Protection in A Developing Market
T-HRD-92-5: Published: Oct 24, 1991. Publicly Released: Oct 24, 1991.
GAO discussed the problems with long-term care insurance policies and the model standards developed by the National Association of Insurance Commissioners (NAIC). GAO noted that: (1) long-term care insurance consumers are still vulnerable to considerable coverage and financial risks, although NAIC standards for long-term care insurance provide greater consumer protection than existed before fiscal...
Product Liability: Insurance Rate Levels and Claim Payments During the 1970s and 1980s
HRD-91-108: Published: Sep 16, 1991. Publicly Released: Sep 16, 1991.
Pursuant to a congressional request, GAO reviewed the possible effects of product liability costs and policies on the competitiveness of U.S. businesses, focusing on: (1) shifts in product liability insurance rates; (2) payments made on claims against product liability insurance policies; and (3) the extent to which securities analysts considered product liability in evaluating various publicly tr...
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...
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...
Tax Policy: Mortality Charges on Single Premium Life Insurance Should Be Restricted
GGD-88-95: Published: Jun 14, 1988. Publicly Released: Jun 14, 1988.
Pursuant to a congressional request, GAO examined: (1) tax policy issues arising from life insurance companies' use of excessively high mortality charges to increase premiums; and (2) ways to change the tax status of investment-oriented life insurance.GAO found that policyholders of single-premium life insurance and other investment-oriented insurance products can shelter more money for investment...
Federal Employees Group Life Insurance Program
T-GGD-88-32: Published: Apr 27, 1988. Publicly Released: Apr 27, 1988.
Pursuant to a congressional request, GAO discussed the Federal Employees Group Life Insurance (FEGLI) Program, which the Office of Personnel Management (OPM) administers. GAO noted that the federal government: (1) annually pays about $850,000 in risk charges to about 200 insurance companies who participate as FEGLI reinsurers; (2) separately pays the prime insurer to process FEGLI claims; and (3)...
Auto Insurance: State Regulation Affects Cost and Availability
OCE-86-2: Published: Aug 5, 1986. Publicly Released: Sep 5, 1986.
In response to a congressional request, GAO analyzed the effects of state regulation on the cost and availability of private passenger automobile insurance, specifically: (1) the differences in the methods that states use to regulate insurance rates and to ensure the availability of insurance; and (2) the experiences of states that have placed restrictions on the factors that insurers may use to e...
Profitability of the Property/Casualty Insurance Industry
129909: May 20, 1986
Testimony was given regarding the insurance industry's pricing strategies, profitability, cyclical nature, financial outlook, and general liability difficulties. GAO found that property/casualty insurance companies: (1) use a pricing strategy which allows them to generate cash for investment purposes by reducing their underwriting profit margins; (2) have made a net gain of between $52 and $79 bil...