About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

RCED-93-45R 1 (1992-10-14)

handle is hein.gao/gaobackeh0001 and id is 1 raw text is: Cl Af\ United States General Accounting Office Washington, D.C. 20548 Resources, Community, and Economic Development Division B-249970 III IIIII I 147991 October 14, 1992 -, The Honorable John D. Dingell Chairman, Committee on Energy and Commerce House of Representatives ' The Honorable Ron Wyden '. House of Representatives oYour March 5, 1991, and May 24, 1991, letters asked us for information on the payment amounts that insurance companies , have made for Superfund claims. You specifically requested data on claim payments related to Superfund cleanup costs. As agreed with your offices, to obtain this information, we sent a questionnaire to the top 20 property/casualty insurers, as rated by A. M. Best Company. This letter provides a summary of the questionnaire data, including a table that outlines claim payments by year and by company In our questionnaire, we requested indemnity claim data by V r* Superfund site for cleanup costs incurred from 1980 (the >year in which Superfund was enacted) to 1991. Although few Superfund claims were filed in the early 1980s, we asked companies to report their total claims payments for all possible years. We received responses from 15 of the 20 companies. These 15 companies underwrote about 55 percent of the general liability market in 1990. Thirteen companies provided data for some portion of the time period, and two companies paid nothing in indemnity claims. Enclosure I shows the questionnaire data results. Overall, the data show substantial increases in indemnity payments from 1982 to 1991. For example, of the 13 companies that made Superfund indemnity payments to their policyholders, 10 made payments prior to 1987 that totaled about $11 million. Respondents who did not provide data for some years explained that they either did not maintain records or did not make indemnity claims payments before 1987. From 1987 to 1991, however, the 13 companies made Superfund indemnity payments that totaled about $144 GAO/RCED-93-45R, Superfund Pollution Claims 655 742~c)

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most