U.S. Government Insurance Contracts
B-158766: Feb 8, 1977
- Full Report:
A Senator requested information regarding a constituent's inquiry concerning "U.S. Government Insurance contracts." The constituent, the Rev. Mr. Arthur Richards, advised the Senator by letter that as a licensed insurance broker he was interested in obtaining "U.S. Government Insurance contracts" and was seeking information relative to where such contracts could be obtained and the procedures to be used in obtaining such contracts.
GAO noted that the general long standing policy of having the Federal Government assume its own risks, that is, act as self-insurer would, in all but a few instances, eliminate the need for "U.S. Government insurance contracts." Moreover, those few instances in which the Government would purchase insurance would not, in general, necessitate use of established bidding procedures.