Statutory Accounting, Auditing, and Regulatory Practices Insure Accurate Reporting of Property Casuality Loss Reserves
Date of Submission
Master of Science in Accounting
Insurance,Property--United States--Auditing, Insurance,Casualty--United States--Auditing
Call No. at the Univ. of New Haven Library
AS 36 .N29 Acc. 1992 no.11
With the recent failures of two large life insurance companies, the current system of State regulation has come under increased criticism from both consumer advocates and the Federal Government. Both groups contend that the present system is antiquated, lacking the resources to oversee a multi-billion dollar industry effectively. The present field study tested one premise that the current system does sufficiently monitor property casualty loss reserve reporting. It was expected that since the number and sizes of property casualty insolvencies had decreased since the 1980's, the current system has proved itself. Research found that the current surveillance system had evolved sufficiently to detect companies whose loss reserves were grossly deficient. Loss reporting standards and oversight measures had been significantly upgraded since the 1980's. The results, therefore support the contention that the current regulatory system insures accurate reporting of loss revenues.
DiLorenzo, Christopher T., "Statutory Accounting, Auditing, and Regulatory Practices Insure Accurate Reporting of Property Casuality Loss Reserves" (1992). Master's Theses. 90.