National Flood Insurance Program: Hearings Before the Subcommittee on Governmental Efficiency and the District of Columbia of the Committee on Governmental Affairs, United States Senate, Ninety-fifth Congress, First Session ... |
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Page 1
... premium rates , or produce the financial statements for the program . The General Accounting Office conclusion is as follows : Accurate financial data from the National Flood Insurers Association is es- sential to Federal Insurance ...
... premium rates , or produce the financial statements for the program . The General Accounting Office conclusion is as follows : Accurate financial data from the National Flood Insurers Association is es- sential to Federal Insurance ...
Page 5
... premiums . It is doubtful also that the Government can properly determine flood insurance premium rates or prepare financial statements of the program's condition and the results of its operations . Finally , under these conditions the ...
... premiums . It is doubtful also that the Government can properly determine flood insurance premium rates or prepare financial statements of the program's condition and the results of its operations . Finally , under these conditions the ...
Page 7
... premium calculations , errors in editing - those kinds of things ripple through the whole system , and it costs somebody . If you grossly miscalculate the data base , insofar as premium charges are concerned , someone could conceivably ...
... premium calculations , errors in editing - those kinds of things ripple through the whole system , and it costs somebody . If you grossly miscalculate the data base , insofar as premium charges are concerned , someone could conceivably ...
Page 8
... premium should be . Senator EAGLETON . If they were making calculated guesstimates , I think we can rest assured they were calculating them on the safe side , as far as the insurers were concerned . But I take that to be conven- tional ...
... premium should be . Senator EAGLETON . If they were making calculated guesstimates , I think we can rest assured they were calculating them on the safe side , as far as the insurers were concerned . But I take that to be conven- tional ...
Page 9
... Premium rates could not be established on a reasonable basis . Under section 1307 of the National Flood Insurance Act , the Secretary is required to estimate the premium rates necessary to cover the estimated full cost of insurance ...
... Premium rates could not be established on a reasonable basis . Under section 1307 of the National Flood Insurance Act , the Secretary is required to estimate the premium rates necessary to cover the estimated full cost of insurance ...
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Common terms and phrases
accounting ADP system agents agreement amount arbitration Arthur Andersen audit August 30 billing Bradford Bradford system claims Committee competitive bidding computer system Congress contract contractor Control Account correct cost coverage decision deficiencies DEMPSEY document ESCHWEGE Federal Insurance Administrator FIA and NFIA FIA's financial control financial statements fiscal Flood Insurance Act Flood Insurance Policy flood insurance program Flood Insurers Association Government Housing and Urban HUD's HUDAK HUNTER implementation Inspector insurance companies insurance industry issue January July July 21 June 30 letter loss March 21 matter meeting memo memorandum ment MILLAR million months National Flood Insurance negotiations NFIA's November October 28 Office operation payment percent personnel Policy Master File policyholders problems PROKOP proposed RAZIANO record responsibility Robert Hunter Secretary Senator EAGLETON servicing companies specifications staff Standard Flood Insurance statistical subcommittee Subsystem takeover termination tion transactions Urban Development WEESE
Popular passages
Page 400 - The decision of the Secretary or his duly authorized representative for the determination of such appeals shall be final and conclusive unless determined by a court of competent jurisdiction to have been fraudulent, or capricious, or arbitrary, or so grossly erroneous as necessarily to imply bad faith, or not supported by substantial evidence.
Page 405 - (5) The contractor will furnish all information and reports required by Executive Order No. 11246 of September 24, 1965, and by the rules, regulations, and orders of the Secretary of Labor, or pursuant thereto, and will permit access to his books, records, and accounts by the contracting agency and the Secretary of Labor for purposes of investigation to ascertain compliance with such rules, regulations, and orders.
Page 327 - In our opinion, the financial statements referred to above present fairly the financial position of the various funds of Delaware River Port Authority at December 31, 1985 and the results of its operations and the changes in its financial position for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.
Page 143 - This company shall not be liable for loss caused directly or indirectly by invasion, insurrection, riot, civil war or commotion, or military or usurped power, or by order of any civil authority ; or by theft ; or by neglect of the insured to use all reasonable means to save and preserve the property at and after a fire, or when the property is endangered by fire in neighboring premises...
Page 405 - Contractor will send to each labor union or representative of workers with which he has a collective bargaining agreement or other contract or understanding, a notice, to be provided by the agency Contracting Officer, advising the labor union or workers...
Page 185 - Statutes or any other provision of law requiring competitive bidding. (2) No such contract shall be entered into with any carrier unless the Secretary finds that such carrier will perform its obligations under the contract efficiently and effectively and will meet such requirements as to financial responsibility, legal authority, and other matters as he finds pertinent.
Page 327 - 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 133 - ... (4) Each contract under this section shall be for a term of at least one year, and may be made automatically renewable from term to term in the absence of notice by either party of intention to terminate at the end of the current term...
Page 395 - Copies of this report are being sent to the Chairmen of the House and Senate Committees on Appropriations and Armed Services, the House Committee on Government Operations, and the Senate Committee on Governmental Affairs.
Page 194 - Affairs no later than 60 days after the date of the report and to the House and Senate Committees on Appropriations with the agency's first request for appropriations made more than 60 days after the date of the report.