Insurer Failures:
Property/Casualty Insurer Insolvencies and State Guaranty Funds
GGD-87-100: Published: Jul 28, 1987. Publicly Released: Jul 28, 1987.
Additional Materials:
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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 cycle of the property/casualty insurance industry, and has been geographically widespread; (2) there were about 140 insolvencies from 1969 through 1986, 42 percent of which occurred after 1983; (3) the number of companies designated for regulatory attention due to troubling financial conditions increased from 132 in 1978 to 590 in 1986; (4) insolvencies in the late 1960's and 1970's generally could be attributed to companies that were small, handled mostly automobile insurance, and operated in one state or on a regional basis; and (5) there were no characteristics or trends common to the companies that were liquidated from 1977 through 1986. GAO also found that: (1) claims against insolvent insurers are paid from assessments states levy on the companies they license; (2) there is considerable variation in states' administration of such funds; and (3) inconsistencies in state fund laws have caused confusion and conflict and raised questions on whether the state-by-state approach is appropriate.
Nov 23, 2020
Consumer Privacy:
Better Disclosures Needed on Information Sharing by Banks and Credit UnionsGAO-21-36: Published: Oct 22, 2020. Publicly Released: Nov 23, 2020.
Nov 19, 2020
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Consumer Product Safety Commission:
Actions Needed to Improve Processes for Addressing Product Defect CasesGAO-21-56: Published: Nov 19, 2020. Publicly Released: Nov 19, 2020.
Oct 30, 2020
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Small Business Loans:
SBA Generally Incorporated Key Elements for Estimating Subsidy Cost of 7(a) ProgramGAO-20-618: Published: Sep 30, 2020. Publicly Released: Oct 30, 2020.
Oct 13, 2020
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Aviation Consumer Protection:
Increased Transparency Could Help Build Confidence in DOT's Enforcement ApproachGAO-21-109: Published: Oct 13, 2020. Publicly Released: Oct 13, 2020.
Oct 1, 2020
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Small Business Administration:
COVID-19 Loans Lack Controls and Are Susceptible to FraudGAO-21-117T: Published: Oct 1, 2020. Publicly Released: Oct 1, 2020.
Sep 30, 2020
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Small Business Research Programs:
Many Agencies' Award Issuances Are Not Timely; Some Practices May Improve TimelinessGAO-20-693: Published: Sep 30, 2020. Publicly Released: Sep 30, 2020.
Sep 28, 2020
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Intellectual Property:
Additional Agency Actions Can Improve Assistance to Small Businesses and InventorsGAO-20-556: Published: Aug 27, 2020. Publicly Released: Sep 28, 2020.
Jul 30, 2020
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Small Business Contracting:
Better Documentation and Reporting Needed on Procurement Center RepresentativesGAO-20-462: Published: Jun 30, 2020. Publicly Released: Jul 30, 2020.
Jun 29, 2020
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Small Business Subcontracting:
Oversight of Contractor Compliance with Subcontracting Plans Needs ImprovementGAO-20-464: Published: May 28, 2020. Publicly Released: Jun 29, 2020.
Jun 22, 2020
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Small Business Development Centers:
Reevaluation of How SBA Sets Initial Funding Estimate Needed to Help Reduce BurdenGAO-20-457: Published: May 22, 2020. Publicly Released: Jun 22, 2020.
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