Catastrophe Bonds, Spreading Risk: Hearing Before the Subcommittee on Oversight and Investigations of the Committee on Financial Services, U.S. House of Representatives, One Hundred Seventh Congress, Second Session, October 8, 2002U.S. Government Printing Office, 2002 - 282 páginas |
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Página 3
... NAIC securitization committee . We thank you for joining us today to share your expertise on these issues . Without objection , your written statements will be made part of the record . Ms. D'Agostino has agreed that GAO will be given ...
... NAIC securitization committee . We thank you for joining us today to share your expertise on these issues . Without objection , your written statements will be made part of the record . Ms. D'Agostino has agreed that GAO will be given ...
Página 7
... NAIC formed a working group on insurance securitization in 1998 to determine our regulatory response to developments in in- surance securitization . The NAIC's position is that U.S. regulators should encourage the development of ...
... NAIC formed a working group on insurance securitization in 1998 to determine our regulatory response to developments in in- surance securitization . The NAIC's position is that U.S. regulators should encourage the development of ...
Página 8
... NAIC is working with the industry on developing means to both measure and manage this basis risk . In conclusion , the NAIC supports creating an environment that facilitates a more fluid transfer of insurance risk to the capital markets ...
... NAIC is working with the industry on developing means to both measure and manage this basis risk . In conclusion , the NAIC supports creating an environment that facilitates a more fluid transfer of insurance risk to the capital markets ...
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... NAIC ? Mr. MORIARTY . We have not reviewed it at the NAIC level , so I will just give you my preliminary comments , Madam Chairwoman . I think the GAO did a very good job in setting out the issues , cer- tainly from a regulatory ...
... NAIC ? Mr. MORIARTY . We have not reviewed it at the NAIC level , so I will just give you my preliminary comments , Madam Chairwoman . I think the GAO did a very good job in setting out the issues , cer- tainly from a regulatory ...
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... NAIC to revise its ac- counting treatment for risk transfer to help facilitate securitization of disaster risk ? And once the NAIC adopts the changes , who has to promulgate the changes in order to have them be effective ? Mr. MORIARTY ...
... NAIC to revise its ac- counting treatment for risk transfer to help facilitate securitization of disaster risk ? And once the NAIC adopts the changes , who has to promulgate the changes in order to have them be effective ? Mr. MORIARTY ...
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Términos y frases comunes
amount assuming insurer basis risk beneficiary billion Bond Market Association Brynjolfsson capacity capital markets CAT bonds catastrophe bonds catastrophe options catastrophe risk catastrophic events ceding insurer Chairwoman KELLY claims collateral coverage credit for reinsurance D'Agostino domiciled Drafting Note entities equity Event-linked bonds exposure Florida GAAP Hurricane Andrew insurance company insurance industry insurance or reinsurance insurance risk insurance securitization insurers and reinsurers interest investment issuance issued letter of credit liabilities limited liquidation Model Act NAIC natural catastrophes Northridge earthquake obligations offshore payments percent PIMCO policies policyholders portfolio premiums principal protected cell assets protected cell company Purpose Reinsurance Vehicle pursuant rating agencies regulatory reinsurance agreement reinsurance ceded reinsurance contract reinsurance market reinsurance prices requirements risk-linked securities market Section special purpose entities Special Purpose Reinsurance specific sponsor SPRV contract statutory accounting Statutory Accounting Principles subsection swap traditional reinsurance trust account trust agreement underwriting USAA WELDON
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Página 139 - 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, or otherwise.
Página 90 - The fair value of an asset (or liability) is the amount at which that asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between willing parties, that is, other than in a forced or liquidation sale.
Página 116 - The taxes imposed by this section shall apply with respect to liquids sold at retail by the United States, or by any agency or instrumentality of the United States, unless sales by such agency or instrumentality are by statute specifically exempted from such taxes, (k) Fuels containing alcohol.— (1) In general.
Página 109 - Act, and the application of such provision to persons or circumstances other than those to which it is held invalid, shall not be affected thereby.
Página 155 - The domiciliary receiver for the purpose of liquidating an insurer domiciled in a reciprocal state shall be vested by operation of law with the title to all of the property, contracts and rights of action, and all of the books and records of the insurer located in this state...
Página 118 - Promissory notes directly secured by a first lien on a single parcel of real estate upon which is located a dwelling or other residential or commercial property...
Página 103 - ... to be its true and lawful attorney, upon whom may be served all lawful process in any action, suit, or proceeding instituted by or on behalf of an insured or beneficiary arising out of any such...
Página 90 - Estimates of expected future cash flows, if used to estimate fair value, shall be the best estimate based on reasonable and supportable assumptions and projections. All available evidence shall be considered in developing estimates of expected future cash flows. The weight given to the evidence shall be commensurate with the extent to which the evidence can be verified objectively. If a range is estimated for either the amount or timing of possible cash flows, the likelihood of possible outcomes...
Página 132 - Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce...
Página 266 - Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and four US territories.