Insurance Company Insolvencies

The committee heard testimony on the financial failure of the Executive Life Insurance Company and the financial stability of the insurance… read more

The committee heard testimony on the financial failure of the Executive Life Insurance Company and the financial stability of the insurance industry in the U.S. Insurance executives discussed the failure of the Executive Life Insurance Company and its effect on holders of policies which currently may or may not be financially secure. They also proposed methods of detecting and preventing imminent financial failures of insurance companies. This hearing followed a previous hearing on May 7 which also examined the failure of the life insurance company. In April 1990, Executive Life Insurance Company of California and Executive Life Insurance Company of New York were put into conservatorships by their respective states, making them the largest government seizures in the history of the life insurance industry. The financial collapse occurred despite approval from insurance rating firms and an independent accounting firm. close

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Insurance Company Insolvencies

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Program ID:
17925-1
Category:
Senate Committee
Format:
Senate Committee
Location:
Washington, District of Columbia, United States
First Aired:
May 10, 1991 | 12:39pm EDT | C-SPAN 2
Last Aired:
May 12, 1991 | 8:00am EDT | C-SPAN 2

Airing Details

  • May 10, 1991 | 12:39pm EDT | C-SPAN 2
  • May 11, 1991 | 5:20am EDT | C-SPAN 1
  • May 12, 1991 | 8:00am EDT | C-SPAN 2
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Insurance Company Insolvencies

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