The compact solution: as the shortcomings of the current insurance guaranty-fund system become less acceptable, adopting an interstate compact may be the only alternative to federal intervention

Article Abstract:

Insurance policyholders are only partially protected by the current state guaranty-fund system, and federal regulators may step in if a better system is not devised. An interstate compact would cover guaranty funds and the rehabilitation or liquidation of financially troubled insurers. It would create an Insurance Claimant Protection Commission that would be authorized to oversee the activities of state guaranty funds, as well as create binding rules for states in the compact. Additional details about the workings of a proposed interstate compact are presented and discussed.

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Corporate changes '92

Article Abstract:

Property and casualty insurance companies experienced substantial financial losses in 1992 due to natural and man-made disasters. Hurricane Andrew, for instance, cost the insurance industry $15.9 billion in claims. Additionally, 86 insurance companies went out of business and 26 companies liquidated in 1992. However, 25 insurance companies started business in 1992. A list of company mergers, retirements and ownership changes is also included.

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Corporate changes - 1991

Article Abstract:

There were a record 76 property and casualty companies retired in 1991. Of these, 46 were involuntary, 13 were voluntary and 17 were the result of mergers. There was a net loss of 51 companies, continuing a decline begun in 1988. The number of insolvencies may slow now that it is possible for the corporate shells to be purchased and rejuvenated. Lists of new companies, ownership changes, name changes, mergers and retirements are presented.

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