Insurance Company Failures: Hearings Before the Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce, House of Representatives, One Hundredth Congress, Second Session, on Failure of the Mission Insurance Co. and the Integrity Insurance Co., September 14 and 15, 1988, Volume 4 |
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Common terms and phrases
actuarial allegations American Financial Corporation arbitration assets audit BENGSTON Bengtson bulk reserve California casualty business ceding companies Chairman claims combined ratio committee company's Continuity contract COOPER DAVIES Deputy Liquidator DINGELL discretionary reserve fund earned premiums EXHIBIT fact failure February 20 fees filed fraud going Horner IBNR formula IBNR reserves insolvency Insurance Commissioner Integrity Insurance Company Integrity's involved KIVERSTEIN letters of credit liability litigation loss ratios loss reserves managing general agents March 24 MARIONI MARSH million MIRON Mission American Mission and Integrity Mission Companies Mission Insurance Company Mission Insurance Group MULHOLLAND officers operating OXLEY Pacific Reinsurance Management paid participants percent policyholders Pool Members PRMC Put Options question regulation regulatory rehabilitation REINSURANCE MANAGEMENT CORPORATION reinsurance recoverables reported retrocessionaires risks ROSA RUBINSTEIN Sayre & Toso Sayre and Toso September 14 shares situation SLATTERY specific statement subsidiaries surplus testimony treaty underwriting WYDEN
Popular passages
Page 149 - Materiality is to be determined not by the event, but solely by the probable and reasonable influence of the facts upon the party to whom the communication is due, in forming his estimate of the disadvantages of the proposed contract, or in making his inquiries.
Page 70 - No Act of Congress shall be construed to invalidate, impair, or supersede any law enacted by any State for the purpose of regulating the business of insurance...
Page 377 - Pursuant to Rules X and XI of the Rules of the US House of Representatives, the Subcommittee on Oversight and Investigations...
Page 349 - Except as is expressly permitted under this agreement, neither party may assign this agreement or rights accruing under this agreement without the prior written consent of the other except either party may assign rights to receive money or compensation without the other party's consent.
Page 70 - Congress with reference to the regulation of the business of insurance. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Congress hereby declares that the continued regulation and taxation by the several States of the business of insurance is in the public interest, and that silence on the part of the Congress shall not be construed to impose any barrier to the regulation or taxation of such business by the several States.
Page 348 - Delaware and has the power and authority to enter into and perform its obligations under this Agreement.
Page 119 - We will make your prepared remarks a part of the record in their entirety.
Page 159 - ... to really go after the wrongdoers. I think what the gentleman from Tennessee has said is an important point, and we are going to want to look at that further as we continue this inquiry. Mr. COOPER. You have been very generous with the time, Mr. Chairman. I have no further questions at this point. Mr. WYDEN. The gentleman from Kansas. Mr. SLATTERY. Thank you, Mr. Chairman. I would like to commend the gentleman from Tennessee for his very thoughtful questioning, and I think you made some very...
Page 73 - The relationship between insurer and insured, the type of policy which could be issued, its reliability, interpretation, and enforcement — these were the core of the 'business of insurance.' Undoubtedly, other activities of insurance companies relate so closely to their status as reliable insurers that they too must be placed in the same class.
Page 188 - Without objection, your entire statement will be inserted in the record and we'll recognize any such summary as you choose to give.