Insurance Company Regulation: Hearing Before the Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce, House of Representatives, One Hundred Second Congress, First Session, May 22, 1991, Volume 4U.S. Government Printing Office, 1991 - 379 pages |
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Common terms and phrases
accounting accreditation program actuarial adopted analysis annual statement assess assets Association of Insurance audit authority BLILEY capital Cardiss Collins Chairman claim CLUFF COLLINS Committee company's consumers Credit for Reinsurance CURIALE database DINGELL Director domiciled effective ELNY examination Executive filed financial condition Financial Regulation Standards financial reinsurance financially troubled FOGEL GAO's gentleman guaranty fund holding company Illinois improve insolvencies Insurance Co Insurance Commissioners insurance companies insurance departments insurance guaranty funds insurance industry insurance regulation insurance regulatory internal controls interstate compact investment issue junk bonds legislation liabilities liquidation LONG Managing General Agent MCCARTNEY million Model Act model laws NAIC Model NAIC's National Association oversight percent person policyholders POMEROY premiums problems protection regulatory actions regulatory system Reinsurance Intermediaries requirements response risk Section securities SIKORSKI statute statutory subcommittee surplus testimony Thank tion transactions troubled companies troubled insurers WYDEN
Popular passages
Page 165 - Except with the written consent of the Corporation, no person shall serve as a director, officer, or employee of an insured bank who has been convicted, or who is hereafter convicted, of any criminal offense involving dishonesty or a breach of trust.
Page 343 - ... shall be deemed equivalent to an appointment by such nonresident of the registrar or his successor in office, to be his true and lawful attorney upon whom may be served all lawful processes...
Page 206 - Nothing contained in any title of this Act shall be construed as indicating an intent on the part of Congress to occupy the field in which any such title operates to the exclusion of State laws on the same subject matter, nor shall any provision of this Act be construed as invalidating any provision of State law unless such provision is inconsistent with any of the purposes of this Act, or any provision thereof.
Page 339 - Person" means an individual, a corporation, a partnership, an association, a joint stock company, a business trust, or any organized group of persons, whether incorporated or not, or any receiver or trustee. 22. "Premium...
Page 339 - ... under common control with, the person specified. (b) Control. The term "control" (including the terms "controlling", "controlled by" and "under common control with") means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract...
Page 350 - If any provision of this Act or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the Act which can be given effect without the invalid provision or application, and to this end the provisions of this Act are severable.
Page 100 - Internal control comprises the plan of organization and all of the co-ordinate methods and measures adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data, promote operational efficiency, and encourage adherence to prescribed managerial policies.
Page 339 - The Commissioner may determine, after furnishing all persons in interest notice and opportunity to be heard and making specific findings of fact to support such determination, that control exists in fact, notwithstanding the absence of a presumption to that effect. (d) Insurance Holding Company System.
Page 206 - Whoever, being an officer, director, agent, or employee of, or connected in any capacity with, any agency receiving financial assistance under the Employment and Manpower Act embezzles, willfully misapplies, steals, or obtains by fraud any of the moneys, funds, assets, or property which are the subject of a grant or contract...
Page 206 - commerce" means commerce within the District of Columbia, or any Territory or Possession of the United States ; all commerce between any point in a State, Territory, Possession, or the District of Columbia and any point outside thereof; all commerce between points within the same State through any place outside such State ; and all other commerce over which the United States has jurisdiction.