Insurer Failures:
Life/Health Insurer Insolvencies and Limitations of State Guaranty Funds
T-GGD-92-15: Published: Apr 28, 1992. Publicly Released: Apr 28, 1992.
Additional Materials:
- Full Report:
Contact:
GAO discussed its report on the increasing number of life/health insurance company failures and the adequacy of protection for policyholders. GAO noted that: (1) the rate of failures for life/health insurance companies has more than tripled since 1982, with 47 failures in 1989 and 27 in 1990; (2) the state guaranty funds' assessments of insurers have increased from a total of about $50 million to a total of about $465 million; (3) the cost of failures is covered initially by state guaranty funds' assessments of insurance companies, but most states allow insurers to recover their assessments through tax offsets or rate increases; (4) state coverage varies widely, and a multistate insurer's failure can result in unequal treatment of policyholders; and (5) increasing assessments lead to concerns about the capacity of the funds to handle the greater burden that could result from additional insurer failures.
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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