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Insurance Regulation: Weak Oversight Allowed Executive Life to Report Inflated Bond Values

GGD-93-35 Published: Dec 09, 1992. Publicly Released: Dec 09, 1992.
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Highlights

GAO reviewed the National Association of Insurance Commissioners' (NAIC) Securities Valuation Office (SVO), focusing on: (1) SVO development of ratings and values for securities; and (2) state regulators' compliance with valuation procedures.

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Topics

Business Regulation and Consumer Protection
Accounting proceduresBonds (securities)Financial disclosureFinancial recordsInsurance companiesInsurance regulationLossesMonitoringReporting requirementsBail bonds