【97年3月2日（日）】
カリフォルニア保険長官、前 Golden Eagle 社幹部による Financial データ捏造を指摘。
（California州保険庁 Web-Siteより）
昨年の California 州保険庁検査で RESERVE 積み不足の指摘を受けていた California 州の Workers' Comp Carrier "Golden Eagle"社（在 San Diego）の直近の動向をまとめた。
同社の AMBEST Rating は、B- から E (Under State Supervision）に下げられている。
California州保険庁によれば、前 Golden Eagle 社幹部による Financial データ（Reseve）捏造が明らかになったとのこと。
また、同社に対しては、Libety Mutual社が５０億ドルの資本増強を図ることが発表されている。
これまでの動きを直近からさかのぼってまとめると以下のとおり。
Feb. 27, 1997 (G-EAGL4.HTM)
カリフォルニア保険長官、前 Golden Eagle 社幹部による Financial データ捏造を指摘。
- Commissioner Quackenbush announced today that a legal declaration, filed in Superior court this week, clearly outlines the most damaging evidence to date against former Golden Eagle Insurance upper management. The declaration filed by Karl Rubinstein, Deputy Conservator and Chief Executive Officer of Golden Eagle, shows detailed evidence of manipulation of key company financial records, including handwritten notes by former Golden Eagle owner John Mabee and some of his staff.
Feb. 24, 1997 (G-EAGL3.HTM)
カリフォルニア保険長官、前社長の Maybee 氏に 6千9百万ドルの返還命令。
- Commissioner Quackenbush demanded today that the millions of dollars, including interest, in unsecured loans owed to Golden Eagle/Mesa Reinsurance by John Mabee, the former owner of both companies, be repaid. On January 31, 1997, Commissioner Quackenbush served a court order to take over control and operation of Golden Eagle Insurance Company. The order also included putting Mesa Reinsurance into the conservatorship. Commissioner Quackenbush was particularly concerned about the $66 million in unsecured loans taken by John Mabee. Investigators learned that the original indication of $66 million has increased to $69 million.
Feb. 4, 1997 (G-EAGL2.HTM)
カリフォルニア保険長官、Rehabilitation Plan を発表。
- Commissioner Quackenbush announced his plan today to stabilize Golden Eagle Insurance Company, one of the largest writers of workers compensation insurance in California. It is expected that at least 1,000 jobs will be saved as a result of this plan. Golden Eagle was seized by the Department of Insurance last Friday due to questionable business practices that have held policyholders, employees and clients of that company at risk.
Jan. 31, 1997 (G-EAGL1.HTM)
カリフォルニア保険長官、Golden Eagle 社の経営を掌握。
- California Insurance Commissioner Chuck Quackenbush today served a court order to take over control and operation of Golden Eagle Insurance Company, one of the largest writers of workers compensation insurance in California.
Sep. 1996 - Jan. 1997 (G-EAGL1.HTM)
- An in-depth Department of Insurance investigation proved that Golden Eagle was underreserved by millions in September 1996. The Court ordered the company to increase its reserves by November 19, 1996. An Insurance Department examination of the company's business and finances had concluded that the company needed claim reserves to cover future claims. These so-called "long-tail" claims resulted from workers compensation coverage or construction defect insurance sold to building contractors.
−−−コメント−−−
Reserve の積み不足から Solvency 不安に陥った会社に州の保険庁が介入して社長を解任して経営を始め、契約者の権利の保護を図るという、きわめて興味深い具体的な事例。