1992 0429 - CBO - CBO TESTIMONY - Statement of James L. Blum, Deputy Director - Congressional Budget Officebefore the Subcommittee on Policy Research and Insurance Committee on Banking, Finance and Urban Affairs U. S. House of Representatives - 54p
Mr. Chairman, I appreciate this opportunity to appear before your Subcommittee to give you some preliminary findings from the *report that weare preparing at your request on the economic impact of possible solvency problems in the insurance industry.
Our report does not evaluate the likelihood of solvency problems in the industry.
It hypothetically assumes that such problems could exist on a large enough scale to have noticeable impacts on the overall economy, and then lays out what these macroeconomic impacts might be.
The focus is not on the economic impacts of the event that precipitated the problems in the first place, such as a natural disaster, but on what additional impacts may arise solely from solvency problems in the insurance industry.
*Report - 1994 04 - CBO - The Economic Impact of a Solvency Crisis in the Insurance Industry - 80p
House - Committee On Banking, Finance And Urban Affairs - Subcommittee On Policy Research And Insurance