FDIC proposes strict limits on underwriting by bankers. (Federal Deposit Insurance Corp.; bank holding company Delaware insurance operations): An article ... & Casualty-Risk & Benefits Management

This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on June 29, 1992. The length of the article is 497 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Citicorp's ability to underwrite insurance from a Delaware base will be limited by a Federal Deposit Insurance Corp-proposed (FDIC) rule. Congressional legislation recapitalizing the FDIC in 1991 contained a provision closing a loophole created by Delaware's allowing out-of-state bank holding companies to operate state-chartered insurance subsidiaries. A grandfather clause in the legislation allowed previous insurance underwriting of policies for residents of 'the state.' The FDIC is disallowing Citicorp's argument that this includes any state where a insurer is certified for business.

Citation Details
Title: FDIC proposes strict limits on underwriting by bankers. (Federal Deposit Insurance Corp.; bank holding company Delaware insurance operations)
Author: Steven Brostoff
Publication:National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: June 29, 1992
Publisher: The National Underwriter Company
Issue: n26 Page: p2(2)

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