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Insurance regulation (21 - 30 of 58 items)
Insurance Industry: Regulators Are Less Active in Encouraging and Validating Year 2000 Preparedness
T-GGD-99-56: Published: Mar 11, 1999. Publicly Released: Mar 11, 1999.
Pursuant to a congressional request, GAO discussed the banking, securities, and insurance regulators' efforts to validate their year 2000 preparedness.GAO noted that: (1) banking and securities regulators have supplied guidance and direction regarding year 2000 problems, while state insurance regulators GAO contacted have provided little guidance to their regulated institutions; (2) within the ban...
Insurance Regulation: Observations on the Receivership of Monarch Life Insurance Company
GGD-95-95: Published: Mar 22, 1995. Publicly Released: Mar 22, 1995.
Pursuant to a congressional request, GAO examined the placing of Monarch Life Insurance Company in receivership, focusing on: (1) whether the actions of the parent holding company or affiliated companies endangered the solvency of Monarch Life; and (2) the adequacy of regulatory oversight leading up to the insurance receivership.GAO found that: (1) the holding company pledged Monarch Life stock as...
Insurance Industry: Chronology of F.T. Riley's Activities and Related Regulatory Actions
OSI-95-5: Published: Oct 26, 1994. Publicly Released: Nov 18, 1994.
Pursuant to a congressional request, GAO investigated the insurance business practices of an insurer and his related companies, focusing on: (1) his methods of operations; and (2) the actions state regulators have taken against him and his associated companies.GAO found that: (1) prior to the passage of the Violent Crime Control and Law Enforcement Act, no federal statutes directly prohibited insu...
Federal Disaster Insurance
GGD-95-20R: Published: Nov 7, 1994. Publicly Released: Nov 7, 1994.
GAO commented on the proposed changes to the Natural Disaster Protection Act's primary insurance and reinsurance programs. GAO noted that: (1) the greatest concerns with the primary insurance program involve the difficulty in setting affordable rates, attaining adequate participation, and reducing multihazard coverage costs; (2) although recent computer modeling advances have enabled insurers to b...
Insurance Ratings: Comparison of Private Agency Ratings for Life/Health Insurers
GGD-94-204BR: Published: Sep 29, 1994. Publicly Released: Oct 7, 1994.
Pursuant to a congressional request, GAO reviewed private agency ratings for life and health insurers, focusing on: (1) the rating systems of the five major raters of life and health insurers; and (2) which raters were first to report the vulnerability of financially impaired or insolvent insurers between August 1989 and June 1992.GAO found that: (1) insurer ratings could not be easily compared, s...
Insurance Regulation: Shortcomings in Statutory Asset Reserving Methods for Life Insurers
GGD-94-124: Published: Jun 3, 1994. Publicly Released: Jun 3, 1994.
Pursuant to a congressional request, GAO reviewed the National Association of Insurance Commissioners' new methods of calculating statutory asset reserves for life insurers, focusing on whether the new methods overcome the shortcomings of the old mandatory securities valuation reserve (MSVR) method.GAO found that: (1) the asset valuation reserve (AVR) and interest maintenance reserve (IMR) methods...
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...