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CED-82-68 1 (1982-04-15)

handle is hein.gao/gaobabddb0001 and id is 1 raw text is: 




RFPORT BY THE U.S,



General Accounting Office


The Federal Crime Insurance Program:

An Overview


The Federal Crime Insurance Program is
administered by the Federal Emergency
Management Agency. As of September 30,
1981, 26 States, the District of Columbia,
Puerto Rico, and the Virgin Islands partic-
ipated in the program with over 72,500 pol-
icies in force. Three States--New York,
Pennsylvania, and Florida--have 71 per-
cent of the policies in force. The program
lost $138 million since it was started in
August 1971. Yet, because of a unique
funding method, it has never received an
appropriation.

The program's operations have undergone
recent changes. The Federal Emergency
Management Agency has announced a
premium increase. The Agency has also
revised underwriting and claims adjusting
practices.

iThe Federal Crime Insurance Program will
end on September 30, 1982, unless the
Congress extends it. The administration
has recommended that it be terminated.
Although some States now have crime in-
surance programs, it is unclear how many
current Federal policyholders will be able to
obtain affordable, available coverage.

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                                                                   CED-82-68
                                                                 APRIL 15, 1982

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