The Insurance Industry: Hearings Before the Subcommittee on Antitrust and Monopoly of the Committee on the Judiciary, Part 13
U.S. Government Printing Office, 1968 - Insurance, Aviation. [from old catalog]
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
accepted accidents accounting adjusted agency agents American amount application assets assigned risk Association auto automobile insurance basis believe capital Casualty charged claims COHEN Commissioner Committee competition concerned consideration considered Corp corporation cost coverage Department determining driver earned effect expenses experience fact factor Federal figures filing fire funds going HERD holding company important income increase incurred industry insurance business insurance companies interest investment investment income involved less liability limits lines loss means million mutual operations paid percent period person policyholders practices premiums present problem profit question ratio reason received record regulation reinsurance represent reserves result risk securities Senator Hart share SHARP standard statement subsidiaries surplus tion underwriting unearned premium writing written York
Page 7921 - Due consideration shall be given to past and prospective loss experience within and outside this state, to the conflagration and catastrophe hazards, to a reasonable margin for underwriting profit and contingencies, to dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers, to past and prospective expenses both countrywide and those specially applicable to this state, and to all other relevant factors within and outside this...
Page 7705 - ... 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 7850 - Our examinations were made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.
Page 7931 - ... consideration shall be given to past and prospective loss experience within and outside this state, to catastrophe hazards, if any, to a reasonable margin for underwriting profit and contingencies, to dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers, to past and prospective expenses both countrywide and those specially applicable to this state, and to all other relevant factors within and outside this state...
Page 7800 - Reporting 1. The report shall state whether the financial statements are presented in accordance with generally accepted principles of accounting. 2. The report shall state whether such principles have been consistently observed in the current period in relation to the preceding period. 3. Informative disclosures in the financial statements are to be regarded as reasonably adequate unless otherwise stated in the report.
Page 7933 - ... during the taxable year, add salvage and reinsurance recoverable outstanding at the end of the preceding taxable year, and deduct salvage and reinsurance recoverable outstanding at the end of the taxable year.
Page 8044 - ... investor might properly expect • or hope to receive and which he would be entitled to without legislative interference. The less risk, the less right to any unusual returns upon the investments. One who invests his money in a business of a somewhat hazardous character is very properly held to have the right to a larger return, without legislative interference, than can be obtained from an investment in government bonds or other perfectly safe security.
Page 7585 - This intense congressional concern with the trend toward concentration warrants dispensing in certain cases, with elaborate proof of market structure, market behavior, or probable anticompetitive effects. Specifically, we think that a merger which produces a firm controlling an undue percentage share of the relevant market, and results in a significant increase in the concentration of firms in that market is so inherently likely to lessen competition substantially that it must be enjoined in the...
Page 7657 - ... guarantees against loss or guarantees of profits, division of losses or profits, or the giving or withholding of proxies.
Page 7867 - ... per cent, give notice to the company to make good its •whole capital stock within sixty days ; and if this is not done, he shall require the company to cease to do new business within this State, and shall thereupon, in case the company is organized under...