Federal Insurance Act of 1977: Hearings Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fifth Congress, First Session, on S. 1710 ... September 12, 13, and 14, 1977 |
From inside the book
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Page 17
... COMPETITION SEC . 109. ( a ) The Commission shall not adopt any rule or regulation or exercise any other authority granted to it under this Act in such a manner as to impose a burden on competition not necessary or appropriate in ...
... COMPETITION SEC . 109. ( a ) The Commission shall not adopt any rule or regulation or exercise any other authority granted to it under this Act in such a manner as to impose a burden on competition not necessary or appropriate in ...
Page 62
... competition between the State and Federal regulatory systems could be very beneficial to the insuring public if this were competition for excellence , as we would hope and expect it to be , but if the rival systems were ever to compete ...
... competition between the State and Federal regulatory systems could be very beneficial to the insuring public if this were competition for excellence , as we would hope and expect it to be , but if the rival systems were ever to compete ...
Page 63
... competition and restricting federal antitrust immunity . As you know , the Department advanced such a proposal in its January , 1977 report on " The Pricing and Marketing of Insur- ance " , as one possible approach to fostering competition ...
... competition and restricting federal antitrust immunity . As you know , the Department advanced such a proposal in its January , 1977 report on " The Pricing and Marketing of Insur- ance " , as one possible approach to fostering competition ...
Page 64
... competition - i.e . , whether state regulation ( and antitrust immunity ) has produced the benefits ordinarily ex- pected from competition : reasonable prices based on the cost of rendering the services ; efficient services rendered at ...
... competition - i.e . , whether state regulation ( and antitrust immunity ) has produced the benefits ordinarily ex- pected from competition : reasonable prices based on the cost of rendering the services ; efficient services rendered at ...
Page 65
... competitive standpoint . These would : ( 1 ) establish a regulatory standard in favor of competition ( § 109 ( a ) ) ; ( 2 ) exempt federally chartered companies from state rate regulation ( including regulation of risk classifications ) ...
... competitive standpoint . These would : ( 1 ) establish a regulatory standard in favor of competition ( § 109 ( a ) ) ; ( 2 ) exempt federally chartered companies from state rate regulation ( including regulation of risk classifications ) ...
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Common terms and phrases
adjustment agency amount applicable areas assets banks bench mark bill business of insurance casualty insurance certificate CHAIRMAN claims clause Committee concern Congress consumer Contracting Officer Contractor Cost Accounting Standards coverage determine director effect established exemption Exhibit expenses FDIC federal antitrust laws Federal Insurance Act Federal Insurance Administration Federal Insurance Commission Federal regulation federally chartered insurer federally guaranteed insurer federally-chartered insurer GEICO Government Greater Idaho guaranty fund increase insolvency insurance business insurance companies insurance departments Insurance Guaranty Insurance Guaranty Fund insurance industry insurance regulation insurer's investment issue KINDER legislation liability liquidation losses McCarran Act McCarran-Ferguson Act ment NAIC National offeror paragraph percent Powder Mountain premium prior priority companies problems proposed protection pursuant rate regulation rating laws reinsurance reserve development risk Schedule 13D Section Senator BROOKE Sierra solvency subcontract surplus lines test results tion underwriting
Popular passages
Page 612 - The business of insurance, and every person engaged therein, shall be subject to the laws of the several States which relate to the regulation or taxation of such business.
Page 102 - Contractor shall not be liable for any excess costs if the failure to perform the contract arises out of causes beyond the control and without the fault or negligence of the Contractor. Such causes may include, but are not restricted to, acts of God or of the public enemy, acts of the Government in either its sovereign or contractual capacity, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes, and unusually severe weather...
Page 100 - Government under this contract may be assigned to a bank, trust company, or other financing institution, including any Federal lending agency, and may thereafter be further assigned and reassigned to any such institution. Any such assignment or reassignment shall cover all amounts payable under this contract and not already paid, and shall not be made to more than one party...
Page 612 - ... 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 105 - In connection with the terminated portion of this contract whenever In the opinion of the Contracting Officer the aggregate of such payments shall be within the amount to which the Contractor will be entitled hereunder. If the total of such payments Is In excess of the amount finally...
Page 100 - The Contractor agrees that the Administrator of General Services or any of his duly authorized representatives shall, until the expiration of 3 years after final payment under this contract, or of the time periods for the particular records specified in Part 1-20 of the Federal Procurement Regulations (41 CFR Part 1-20) , whichever expires earlier, have access to and the right to examine any books, documents, papers, and records of the Contractor involving transactions related to this contract or...
Page 102 - Government in accordance with this clause in whole, or from time to time in part, whenever the Contracting Officer shall determine that such termination is in the best interest of the Government. Any such termination shall be effected by delivery to the Contractor of a Notice of Termination...
Page 99 - The wages of every laborer and mechanic employed by the Contractor or any subcontractor engaged in the performance of this contract shall be computed on a basic day rate of...
Page 109 - If any such change causes an increase or decrease in the cost of, or the time required for, the performance of any part of the work under this contract, whether changed or not changed by any such order, an equitable adjustment shall be made in the contract price or delivery schedule, or both, and the contract shall be modified in writing accordingly.
Page 103 - And provided further, That the proceeds of any such transfer or disposition shall be applied in reduction of any payments to be made by the Government to the Contractor under this contract or shall otherwise be credited to the price or cost of the work covered by this contract or paid in such other manner as the Contracting Officer may direct...