Government Hearings - 1980s

  • 1986 0717 - Congressional Record - Insurance Solvency Threat Aired, James J. Florio (D-NJ), HOUSE OF REPRESENTATIVES
    • Mr. FLORIO. Mr. Speaker, in the lengthy series of hearings on insurance that my subcommittee is conducting, one of the more troubling issues we have addressed is the rising wave of insurer insolvencies discussed in a recent hearing.
    • A number of concerns have been raised regarding the current system of State solvency regulation.
    • Some observers have suggested that problems include inadequate data and industry reporting to State regulators, conflicts among the States, and inadequate State guaranty funds for payment of the claims of insolvent insurers.
    • Articles apprearing in the National Underwriter and the Journal of Commerce described our hearing, including proposals for Federal action.
      • I am inserting those articles in the RECORD for the information of all Members on this neglected, but very important aspect of the insurance crisis. The articles follow:
      • INSOLVENT INSURERS TARGETED, By Leah R. Young
      • CAPACITY OF STATE GUARANTY FuNDS QUESTIONED, FEDERAL ROLE SUGGESTED, by Steven Brostoff
    • ACKNOWLEDGES STUDY RESULTS
      • Under questioning from Subcommittee Chairman Rep. James J. Florio (D.-N.J.), Director Washburn acknowledged that a recent study by the Illinois Department indicated that if a top 10 company went under, many state guaranty funds would be, in effect, tapped out after the fifth year of insolvency.
  • 1980 1119 - GOV (Senate) - Taxation of Certain Annuity Contracts and Normalization Requirements for Certain Public Utility Property
    • [PDF-144p-Senate-Link], VIDEO-?] ->Not on govinfo.gov - R
    • Senate - Committee on Finance - Subcommittee on Taxation and Debt Management Generally
  • 1981 - GOV (JEC) - The 1981 Economic Report of the President, part 1 - [PDF-215p]
  • 1981 0224 - GOV (Senate) - Savings Incentives
    • [PDF-530p-Senate-Link, VIDEO-?] ->Not on govinfo.gov - R
    • Senate - Committee on Finance - Subcommittee On Savings, Pensions And Investment Policy
  • 1981 0921 -  GOV (House) - Insurance Agent Commission Deregulation
    • [PDF-109p-GooglePlay, VIDEO-?] ->Not on govinfo.gov - R 
    • House - Committee on Small Business - Subcommittee on General Oversight 
  • 1982 0715 - GOV (Senate) - Fair Insurance Practices Act
    • [PDF-227p-GooglePlay]
    • To Promote Interstate Commerce By Prohibiting Discrimination In The Writing And Selling Of Insurance Contracts, And For Other Purposes
    • Senate - Committee on Commerce, Science, and Transportation
  • 1982 - GOV (Senate) - Tax Treatment of Interest and Dividends, Charitable Contributions of Certain Inventory, And Uranium Litigation -Settlement Discounts
    • [PDF-287p-Senate-Link, VIDEO-?] ->Not on govinfo.gov - R
      • Policy Loans - NALU <NAIFA>
    • Senate - Committee on Finance - Joint Hearing Before the Subcommittee on Taxation and Debt Management and Subcommittee on Savings, Pensions, and Investment Policy
  • 1983 0311 - GOV (Senate) - Taxation of Financial Services Industry
  • 1983 0411 - GOV (Senate) - Effect of TEFRA on Private Pension Plans
    • [PDF-364p-Senate-Link, VIDEO-?] - R ->Not on govinfo.gov
    • Senate - Committee on Finance - Subcommittee on Savings, Pensions, and Investment Policy
  • 1983 0412, 0425 and 0519 - GOV (Senate) - Fair Insurance Practices Act
    • To Promote Interstate Commerce By Prohibiting Discrimination In The Writing And Selling Of Insurance Contracts, And For Other Purposes
    • ACLI - Richard Schweicker
    • NAIC - Roger Day
    • NALC - Roy Woodall
    • Barbara Lautzenheiser
    • [PDF- 421p-GooglePlay]
    • Senate - Committee on Commerce, Science, and Transportation
  • 1983 0510, 0511 and 0728 - GOV (House) - Tax Treatment of Life Insurance
    • [PDF-991p-GooglePlay, VIDEO-?] ->Not on govinfo.org - R
    • Committee on Ways and Means - Subcommittee on Select Revenue Measures  
  • 1983 0512 - GOV (House) - Acacia Mutual Life Insurance Co.
    • [PDF-24p-GooglePlay, VIDEO-?] -> Not on govinfo.gov - R
    • House - Committee on the Judiciary - Subcommittee on Administrative Law and Governmental Relations
  • 1983 0614 - GOV (Senate) - Single-Employer Pension Plan Termination Insurance Improvements Act of 1983
    • [PDF-144p-archive.org, VIDEO-?] ->Not on govinfo.gov - R
    • Senate - Committee on Labor and Human Resourcess - Subcommittee on Labor
  • 1983 0928 - GOV (House) - ERISAs Single employer Pension Plan Termination Insurance Program
    • [PDF-193p-GooglePlay, VIDEO-?] ->Not on govinfo.org - R
    • House - Committee on Education And Labor - Subcommittee on Labor - Management Relations 
  • 1983 1212, 1213 and 1214 - GOV (Senate) - Deficit Reduction Proposals
  • 1984 0131 - GOV (Senate) - Tax Treatment of Life Insurance Products and Policyholders
  • 1984 0411, 0503, 0510, 0628, 0913 - GOV (House) - Competition in the Insurance Industry
    • [PDF-755p-GooglePlay]
    • J. Robert Hunter
    • Griffin Bell
    • Andrew Tobias - author of The Invisible Bankers
    • House - Subcommittee on Monopolies and Commercial Law
    • ⇒NAIC Library - 1984 Legislative Update Report No 12, From: Heron Burchette Ruckert Rothwell - 332-104304-1983-1984.pdf - p212
  • 1985 0509 - GOV (Senate) - 1985 Tax Reform
  • 1985 0719 and 0722 Impact of Tax Reform on Insurance Industry)
    • [PDF-GooglePlay-Part 7 of 9-1175p, VIDEO-CSPAN]
    • Robert Beck (Prudential CEO) - Under some permanent insurance, contracts being sold today, the chances are you could stop paying after 7, 8, or 9 years and the insurance would remain in force for the rest of your life without further premium payments. (p6069) / (VIDEO-CSPAN - (at approx. 2:27:00-2:27:30)
    • Witnesses testified on the effects that President Ronald Reagan’s proposed tax reform will have on the Life insurance industry.
    • House - Committee on Ways and Means
  • 1985 0926 - GOV (Senate) - Tax Reform Proposals: XXI (Financial Institutions And The Mining Industry)
  • 1985 1001 - GOV (Senate) - Tax Reform Proposals: XXII (Impact of the Tax Plan on the Insurance Industry)
  • 1985 Part 1 1116, 1223, 1230 – GOV (Senate) - The Cost and Availability of Liability Insurance for Small Business

  • 1986 Part 2 0220 and 0221 - GOV (Senate) - The Cost and Availability of Liability Insurance for Small Business
  • 1986 Part 3 0407, 0414, 0530 - GOV (Senate) - The Cost and Availability of Liability Insurance for Small Business
  • 1986 0317 - GOV - Costs and Availability of Insurance
  • 1986 0121 0122 - GOV (House) - The Liability Insurance Crisis 

    • [PDF-553p-GoogIePIay, No Video]  

    • Testimony - J. Robert Hunter - p279-299
    • House - Committee on Public Works and Transportation - Subcommittee on Investigations and Oversight

  • 1986 0618 - NAIC / GOV - Edward Muhl (MD) and John Washburn (IL) - Insurance company solvency [draft] - 53p
  • 1986 0812 // 0910/24 //1002 - GOV (House) - The Liability Insurance Crisis- Part 2

    • [pdf 403p-GoogIePIay, No Video]

    • Testimony - James P. Corcoran (New York State Superindent of Insurance) - p379-392
      • And the once staid Business of Life Insurance has become a whole new realm of finance where consumers are being offered a variety of products incorporating traditional protection along with investment potential and asset management.
    • Testimony - Bruce W. Foudree (Counsel, Mitchell, Williams, Selig, Jackson & Tucker and Immediate Past President of the National Association of Insurance Commissioners - Iowa) - p393-396
    • House - Committee on Banking, Finance and Urban Affairs - Subcommittee on Economic Stabilization

  • 1987 0421, 0428, and 0429 - GOV (House) - Current State of the Liability Insurance Crisis
    • [PDF- 313p-GooglePlay, VIDEO-?]
    • Testimony - FTC - Daniel Oliver, Chairman of the FTC - p242-260
    • Letter - FTC to GOV - p290-291
      • Chairman La Falce has requested information on the circumstances that led to enactment of the 1980 amendment to the Federal Trade Commission Act that prohibits the Commission from studying the business of insurance .
    • (p288) - Chairman LAFALCE. All right, fine. I would also like you to supply for the record, a statement as to why the FTC believes it lost its authority in 1980, that is, what was the FTC doing in thatera?
    • Mr. OLIVER. I am told that it resulted from a study that the Commission did on how good an investment life insurance was, the staff study.
      • I understand that it was a staff study that concluded that buying life insurance was not a good investment.
    • Chairman LAFALCE. The insurance industry did not like that, and therefore they got enough Members of Congress to support their position.
    • Mr. OLIVER. I think that is correct.
    • House - Committee on Small Business
  • 1987 0701 and 0729 and 1014 - GOV (House) - Developments In State Insurance Regulation
    • [PDF-511p-GooglePlay, No Video] - Not on govinfo.gov
    • 1987 0701 - General Overview
    • 1987 0729 – Life Insurance Company Solvency 
    • 1987 1014 - Financial Guarantee Insurance
    • House - Committee on Energy and Commerce - Subcommittee on Commerce, Consumer Protection, and Competitiveness
  • - GOV - Role of Financial Institutions, Part 1
  • 1988 0315 - GOV (House) - Investment Uses of Life Insurance
    • [PDF-257p-GooglePlay, No Video] -> Not on govinfo.gov
    • ACLI - Richard S.Schweiker
    • Andrew D. Pike
    • Dennis E. Ross, Deputy Assistant Secretary for Tax Policy, U.S. Department of the Treasury
    • House - Committee on Ways and Means - Subcommittee on Select Revenue Measures 
  • 1988 0325 - GOV (Senate) - Tax Treatment of Single-Premium Life Insurance, aka Single Premium Life Insurance
    • [PDF-199p, VIDEO-CSPAN] -> Not on govinfo.gov
    • Senate - Committee on Finance -  Subcommittee on Taxation and Debt Management
  • x-1988 0427/28 - GOV (House) - Securities Markets Oversight and Drexel Burnham Lambert, aka Securities Markets and Federal Laws
    • [PDF-255p-GooglePlay, CSPAN 2 Parts - Part 1 0427 and Part 2 0428] ->Not on govinfo.gov
    • House - Committee On Energy and Commerce - Subcommittee on Oversight and Investigations
  • 1988 0614 - GOV (Senate) - The McCarran-Ferguson Act--state Antitrust Action Against Insurance Agencies:
    • [PDF-355p-GooglePlay]
    • on S. 1299
    • Senate - Committee on the Judiciary - Subcommittee on Antitrust, Monopolies, and Business Rights 
  • 1988 0914 and 0915 - GOV (House) - Insurance Company Failures
    • [PDF-4xxp-GooglePlay, Video-?]
    • House - Committee On Energy and Commerce - Subcommittee on Oversight and Investigations
  • 1988  0927 - GOV (House) - Certain Aspects of Life Insurance Taxation
    • [PDF-233p-GooglePlay, Video-?] ->not on govinfo.org -R
    • House - Committee on Ways and Means - Subcommittee on Select Revenue Measures
  • Deficit Reduction & Its Implications (CSPAN)
  • 1989 0322 - GOV (House) - Adequacy of examination levels and compensation (Examination, Audit and Review Task Force)
    • House - Subcommittee on Financial Institutions Supervision, Regulation and Insurance - Committee on Banking, Finance, and Urban Affairs
  • 1989 0405 0411 0419 - GOV (House) - Insurance Company Failures - Serial no. 101-38 ·
  • 1989 1019 - GOV (House) - Life Insurance Company Taxation
    • [PDF-GooglePlay-289p, VIDEO-?]
  • 1983 0427 / 0428 - GOV (Senate) - Hotel  Employees & Restaurant Employees International Union - [PDF- p-GooglePlay]
    • Senate - Committee on Governmental Affairs -