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Catastrophe Insurance Risks: The Role of Risk-Linked Securities and Factors Affecting Their Use
A letter report issued by the General Accounting Office with an abstract that begins "Because of population growth, resulting real estate development, and using real estate values in hazard-prone areas, the nation is increasingly exposed to much higher property-casualty losses--both insured and uninsured--from natural catastrophes than in the past. In the 1990s, a series of natural disasters, (1) raised questions about the adequacy of the insurance industry's financial capacity to cover large catastrophes without limiting coverage or substantially raising premiums and (2) called attention to ways of raising additional sources of capital to help cover catastrophic risk. Catastrophe risk includes exposure to losses from natural disasters, such as hurricanes, earthquakes and tornadoes, which are infrequent events that can cause substantial financial loss but are difficult to reliably predict. The characteristics of natural disasters prompt most insurers to limit the amount and type of catastrophic risk they hold. Risk-linked securities that can be used to cover risk from natural catastrophes employ many structures and include catastrophic bonds and catastrophic options. GAO identified and analyzed several issues that might affect the use of risk-linked securities. First, the National Association of Insurance Commissioners and insurance industry representatives are considering revisions in the regulatory …
Date:
September 24, 2002
Creator:
United States. General Accounting Office.
Object Type:
Report
System:
The UNT Digital Library
Government Performance: Strategies for Building a Results-Oriented and Collaborative Culture in the Federal Government
Testimony issued by the Government Accountability Office with an abstract that begins "Since 1997, periodic GAO surveys indicate that overall, federal managers have more performance information available, but have not made greater use of this information for decision making. To understand the barriers and opportunities for more widespread use, GAO was asked to (1) examine key management practices in an agency in which managers' reported use of performance information has improved; (2) look at agencies with relatively low use of performance information and the factors that contribute to this condition; and (3) review the role the President and Congress can play in promoting a results-oriented and collaborative culture in the federal government. This testimony is primarily based on GAO's report, Results-Oriented Management: Strengthening Key Practices at FEMA and Interior Could Promote Greater Use of Performance Information, which is being released today. In this report, GAO made recommendations to the Departments of Homeland Security (DHS) and the Interior for improvements to key management practices to promote greater use of performance information at FEMA, the National Park Service, Bureau of Reclamation, as well as at Interior. Both DHS and Interior generally agreed with these recommendations. The testimony also draws from GAO's extensive …
Date:
September 24, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Wildlife Refuges: Trends in Funding, Staffing, Habitat Management, and Visitor Services for Fiscal Years 2002 through 2007
Testimony issued by the Government Accountability Office with an abstract that begins "The National Wildlife Refuge System, which is administered by the Fish and Wildlife Service in the Department of the Interior, comprises 585 refuges on more than 96 million acres of land and water that preserve habitat for waterfowl and other migratory birds, threatened and endangered species, and other wildlife. Refuges also provide wildlife-related activities such as hunting and fishing to about 40 million visitors every year. GAO was asked to testify on a report that is being released today, Wildlife Refuges: Changes in Funding, Staffing, and Other Factors Create Concerns about Future Sustainability (GAO-08-797), which (1) describes changing factors that the refuge system experienced from fiscal years 2002 through 2007, including funding and staffing changes, and (2) examines how habitat management and visitor services changed during this period. For this report, GAO surveyed all refuges, visited 19 refuges in four regions, and interviewed refuge, regional, and national officials."
Date:
September 24, 2008
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
National Guard: Effective Management Processes Needed for Wide-Area Network
A letter report issued by the General Accounting Office with an abstract that begins "The Fiscal Year 2002 Defense Authorization Act required GAO to review GuardNet, the National Guard's wide-area network, which is used to support various Defense applications and was used to support homeland security activities after the terrorist attacks of September 11th. GAO was asked to determine the current and potential requirements for GuardNet and the effectiveness of the processes for managing the network's requirements, configuration, and security."
Date:
September 24, 2002
Creator:
United States. General Accounting Office.
Object Type:
Report
System:
The UNT Digital Library
Drinking Water Research: Better Planning Needed to Link Needs and Resources
A letter report issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on the Environmental Protection Agency's (EPA) safe drinking water research efforts, focusing on: (1) comparing EPA's budget requests for drinking water research during fiscal years (FY) 1997 through 2000 with: (a) the amounts authorized for such purposes by the Safe Drinking Water Act Amendments of 1996; and (b) the amounts estimated by EPA to be needed to support the regulations and regulatory determinations required under the amendments; (2) obtaining the views of stakeholders--those involved with supplying and ensuring the safety of drinking water--regarding the likelihood that EPA will be able to complete the research necessary to support new regulations and regulatory decisions over the next 10 years and the potential consequences if the research is not completed; and (3) assessing EPA's drinking water research plans, including the tasks, projected funding, and anticipated accomplishments, to support the development of new regulations and regulatory decisions over the next 10 years."
Date:
September 24, 1999
Creator:
United States. General Accounting Office.
Object Type:
Report
System:
The UNT Digital Library
Capitol Visitor Center: Update on Status of Project's Schedule and Cost as of September 24, 2008
Testimony issued by the Government Accountability Office with an abstract that begins "The purpose of this testimony is to assist the Subcommittee in monitoring progress on the Capitol Visitor Center (CVC) project. This testimony will focus on (1) the Architect of the Capitol's (AOC) construction progress since the last CVC hearing on July 8, 2008, and (2) the project's expected cost at completion and funding status."
Date:
September 24, 2008
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Disaster Assistance: Federal Aid to the New York City Area Following the Attacks of September 11th and Challenges Confronting FEMA
Testimony issued by the General Accounting Office with an abstract that begins "The terrorist attacks of September 11, 2001, resulted in one of the largest catastrophes this country has ever experienced. The federal government has been a key participant in the efforts to provide aid after the attacks, and it has been providing the New York City area with funds and other forms of assistance. The magnitude of the disaster in New York and the size and scope of the federal government's response in aiding the city has generated significant interest in the nature and progress of this federal assistance. This testimony focuses on (1) how much and what types of assistance the federal government provided to the New York City area following the September 11 terrorist attacks, (2) how the federal government's response to this disaster differed from previous disaster response efforts, and (3) the ongoing challenges FEMA faces as it, and its mission, are subsumed into the Department of Homeland Security."
Date:
September 24, 2003
Creator:
United States. General Accounting Office.
Object Type:
Text
System:
The UNT Digital Library
The Upcoming Transition: GAO's Efforts to Assist the 111th Congress and the Next Administration
Testimony issued by the Government Accountability Office with an abstract that begins "The upcoming 2009 transition will be a unique and critical period for the U.S. government. It marks the first wartime presidential transition in 40 years. It will also be the first administration change for the relatively new Department of Homeland Security operating in the post 9/11 environment. The next administration will fill thousands of positions across government; there will be a number of new faces in Congress as well. Making these transitions as seamlessly as possible is pivotal to effectively and efficiently help accomplish the federal government's many essential missions. While the Government Accountability Office (GAO), as a legislative branch agency, has extensive experience helping each new Congress, the Presidential Transition Act points to GAO as a resource to incoming administrations as well. The Act specifically identifies GAO as a source of briefings and other materials to help presidential appointees make the leap from campaigning to governing by informing them of the major management issues, risks, and challenges they will face. GAO has traditionally played an important role as a resource for new Congresses and administrations, providing insight into the issues where GAO has done work. This testimony …
Date:
September 24, 2008
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Justice Outcome Evaluations: Design and Implementation of Studies Require More NIJ Attention
A letter report issued by the General Accounting Office with an abstract that begins "Policy makers need valid, reliable, and timely information on the outcomes of criminal justice programs to help them decide how to set criminal justice funding priorities. In view of previously reported problems with selected outcome evaluations managed by the National Institute of Justice (NIJ), GAO assessed the methodological quality of a sample of completed and ongoing NIJ outcome evaluation grants."
Date:
September 24, 2003
Creator:
United States. General Accounting Office.
Object Type:
Report
System:
The UNT Digital Library
Financial Management: Sustained Effort Needed to Resolve Long-Standing Problems at U.S. Agency for International Development
Testimony issued by the General Accounting Office with an abstract that begins "GAO has long reported that the U.S. Agency for International Development (USAID) faces a number of performance and accountability challenges that affect its ability to implement its foreign economic and humanitarian assistance programs. These major challenges include human capital, performance measurement, information technology, and financial management. Effective financial management as envisioned by the Chief Financial Officers Act of 1990 (CFO Act) and other financial management reform laws is an important factor to the achievement of USAID's mission. USAID is one of the federal agencies subject to the CFO Act. In light of these circumstances, the Subcommittee on Government Efficiency and Financial Management, House Committee Government Reform asked GAO to testify on the financial management challenges facing USAID, as well as the keys to reforming USAID's financial management and business practices and the status of ongoing improvement efforts."
Date:
September 24, 2003
Creator:
United States. General Accounting Office.
Object Type:
Text
System:
The UNT Digital Library
Year 2000 Computing Challenge: The District of Columbia Cannot Reliably Track Y2K Costs
Testimony issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO discussed the District of Columbia's financial management issues related to its year 2000 efforts, focusing on the: (1) funds provided and the District's reported expenditures to date; (2) District's ability to track its year 2000 costs; and (3) additional funding requested by the District."
Date:
September 24, 1999
Creator:
United States. General Accounting Office.
Object Type:
Text
System:
The UNT Digital Library
Long-Term Care: Implications of Supreme Court's Olmstead Decision Are Still Unfolding
Testimony issued by the General Accounting Office with an abstract that begins "In the Olmstead case, the Supreme Court decided that states were violating title II of the Americans with Disabilities Act of 1990 (ADA) if they provided care to disabled people in institutional settings when they could be a appropriately served in a home or community-based setting. Considerable attention has focused on the decision's implications for Medicaid, the dominant public program supporting long-term care institutional, home, and community-based services. Although Medicaid spending for home and community-based service is growing, these are largely optional benefits that states may or may not choose to offer, and states vary widely in the degree to which they cover them. The implications of the Olmstead decision--in terms of the scope and the nature of states' obligation to provide home and community-based long-term care services--are still unfolding. Although the Supreme Court ruled that providing care in institutional settings may violate the ADA, it also recognized that there are limits to what states can do, given the available resources and the obligation to provide a range of services for disabled people. The decision left many open questions for states and lower courts to resolve. State programs …
Date:
September 24, 2001
Creator:
United States. General Accounting Office.
Object Type:
Text
System:
The UNT Digital Library
Catastrophe Insurance Risks: Status of Efforts to Securitize Natural Catastrophe and Terrorism Risk
A letter report issued by the General Accounting Office with an abstract that begins "In addition to potentially costing hundreds or thousands of lives, a natural or terrorist catastrophe in the United States could place enormous financial demands on the insurance industry, businesses, and taxpayers. Given these financial demands, interest has been raised in bonds that are sold in the capital markets and thereby diversify catastrophe funding sources. GAO was asked to update a 2002 report on "catastrophe bonds" and assess (1) their progress in transferring natural catastrophe risks to the capital markets, (2) factors that may affect the issuance of catastrophe bonds by insurance companies, (3) factors that may affect investment in catastrophe bonds, and (4) the potential for and challenges associated with securitizing terrorism-related financial risks."
Date:
September 24, 2003
Creator:
United States. General Accounting Office.
Object Type:
Report
System:
The UNT Digital Library
Information Technology: DOD and VA Have Increased Their Sharing of Health Information, but Further Actions Are Needed
Testimony issued by the Government Accountability Office with an abstract that begins "The National Defense Authorization Act for Fiscal Year 2008 required the Department of Defense (DOD) and the Department of Veterans Affairs (VA) to accelerate the exchange of health information between the departments and to develop systems or capabilities that allow for full interoperability (generally, the ability of systems to use data that are exchanged) and that are compliant with federal standards. The act also established an interagency program office to function as a single point of accountability for the effort and whose role is to implement such systems or capabilities by September 30, 2009. Further, the act required that GAO semi-annually report on the progress made in achieving these goals; its first report was issued in July 2008. In that report, GAO described the departments' progress in sharing electronic health information, developing electronic health records that comply with federal standards, and establishing the interagency program office. In this testimony, GAO discusses its July 2008 report and updated information obtained from the departments."
Date:
September 24, 2008
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
International Trade: Advisory Committee System Should Be Updated to Better Serve U.S. Policy Needs
A letter report issued by the General Accounting Office with an abstract that begins "In 1974, Congress mandated creation of a private sector advisory system to ensure that representatives from private business and other groups with a stake in trade policy could provide input as negotiations unfolded. The hope was that such involvement would result in trade agreements that Congress could approve with confidence. The law established a three-tier structure of committees to advise the President on overall U.S. trade policy, general policy area, and technical aspects of trade agreements. Four agencies, led by the Office of the U.S. Trade Representative (USTR), currently administer the committee system. According to many negotiators, agency officials, and committee members, the trade policy advisory committee system plays an important role in U.S. trade policy and has made valuable contributions to U.S. trade agreements. Although GAO's survey of committee members found high levels of satisfaction with many aspects of committee operations and effectiveness, more than a quarter of respondents indicated that the system has not realized its potential to contribute to U.S. trade policy. GAO found that consultations could be more timely and meaningful and that the consultation process needs greater accountability. The structure and …
Date:
September 24, 2002
Creator:
United States. General Accounting Office.
Object Type:
Report
System:
The UNT Digital Library
Leaving Congress: House of Representatives and Senate Departures Data Since 198
Members of Congress leave the House or Senate for a variety of reasons; these may include resignation, death, or chamber action during a Congress, and retirement, electoral defeat, or pursuit of another office at the end of a Congress. This report discusses the number of Senators and Members of the House of Representatives who have left before the conclusion of a Congress since 1989.
Date:
September 24, 2010
Creator:
Manning, Jennifer E.; Reynolds, Parker H. & Petersen, R. Eric
Object Type:
Report
System:
The UNT Digital Library
Trade Preferences: Economic Issues and Policy Options
Since 1974, Congress has created multiple trade preference programs designed to foster economic growth and development in less developed countries. Congress conducts regular oversight of these programs, often revising and extending them. This report discusses the major U.S. trade preference programs, their possible economic effects, stakeholder interests, and legislative options.
Date:
September 24, 2010
Creator:
Jones, Vivian C.; Hornbeck, J. F. & Villarreal, M. Angeles
Object Type:
Report
System:
The UNT Digital Library
The effect of yield strength on side-bonding upset welds
During the course of 9{degree} tapered side-bonding resistance upset weld development at Mound, various studies have been conducted to evaluate the effect of yield strength on welds in 304L stainless steel. The results of these studies have concluded that at high yield strengths there may be a minor reduction in the length of Class 2 or better bond. Satisfactory welds have been produced with materials having yield strengths ranging from 36.0 to 141.0 ksi. However, when body yield strengths exceed 80.0 ksi a minor decrease in bond lengths begins. A significant inverse relationship between stem yield strength and bond length was shown to exist. 8 refs., 9 figs., 10 tabs.
Date:
September 24, 1991
Creator:
Miller, R. G. & Perkins, M. A.
Object Type:
Report
System:
The UNT Digital Library
U.S. Water and Sanitation Aid: Millions of Beneficiaries Reported in Developing Countries, but Department of State Needs to Strengthen Strategic Approach
A letter report issued by the Government Accountability Office with an abstract that begins "The Senator Paul Simon Water for the Poor Act of 2005 (the Act) made access to safe water and sanitation for developing countries a U.S. foreign assistance policy objective. The United States provides such assistance mainly through the U.S. Agency for International Development (USAID). The Act requires the Secretary of State to develop a water and sanitation assistance strategy with the Administrator of USAID; designate high-priority countries for assistance; and report annually to Congress on, among other things, implementation of the strategy and progress toward the U.S. policy objective. As requested, in this report GAO (1) describes USAID's accomplishments; (2) describes USAID's obligations of funds for water and sanitation assistance in fiscal years 2006-2009; (3) assesses the Department of State's (State) development of a U.S. water and sanitation strategy; and (4) examines State's designation of high-priority countries. GAO reviewed State and USAID documents and data and obtained the views of State and USAID officials in Washington, D.C., and 15 countries."
Date:
September 24, 2010
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Biomedical Research: NIH Should Assess the Impact of Growth in Indirect Costs on Its Mission
A letter report issued by the Government Accountability Office with an abstract that begins "From fiscal year 2002 to fiscal year 2012, indirect cost reimbursements from the National Institutes of Health (NIH) to universities increased slightly faster than those for direct costs, but increased notably faster during some periods. Specifically, from fiscal years 2002 to 2012, indirect costs increased 28.1 percent while direct costs increased 27.0 percent. However, for the fiscal years 2003 to 2012, indirect costs increased notably faster than direct costs, at 16.9 percent and 11.7 percent, respectively. In more recent years, annual changes were generally small but consistent. This increase occurred during a time when growth in NIH's budget for extramural research slowed to 5 percent from fiscal years 2008 to 2012, compared to about 21 percent from fiscal years 2002 to 2007. In fiscal year 2012, about 10 percent of the universities (50 out of about 500) receiving NIH extramural research funding received almost 70 percent of all indirect cost reimbursement provided to universities. Higher indirect cost rates tended to be associated with universities located in high-cost-of-living areas and privately owned universities."
Date:
September 24, 2013
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Tax Gap: IRS Can Improve Efforts to Address Tax Evasion by Networks of Businesses and Related Entities
A letter report issued by the Government Accountability Office with an abstract that begins "A taxpayer can control a group of related entities--such as trusts, corporations, or partnerships--in a network. These networks can serve a variety of legitimate business purposes, but they also can be used in complex tax evasion schemes that are difficult for the Internal Revenue Service (IRS) to identify. GAO was asked to (1) describe what IRS knows about network tax evasion and how well IRS's traditional enforcement programs address it and (2) assess IRS's progress in addressing network tax evasion and opportunities, if any, for making further progress. To do this, GAO reviewed relevant documentation about IRS programs and interviewed appropriate officials about those programs and IRS's plans for addressing such tax evasion. GAO also interviewed relevant experts and agency officials in developing criteria needed to perform the assessment."
Date:
September 24, 2010
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Legal Issues Relating to the Disposal of Dispensed Controlled Substances
This report describes an issue that is the fastest-growing drug problem in the country -- the intentional use of prescription drugs for non-medical purposes. It is the second-most common form of illicit drug abuse among teenagers in the United States behind marijuana use. Several bills have been introduced in the 111th Congress that would create a legal framework governing disposal of controlled substances that have been dispensed to patients.
Date:
September 24, 2010
Creator:
Yeh, Brian T.
Object Type:
Report
System:
The UNT Digital Library
Concurrent Receipt: Background and Issues for Congress
"Concurrent Receipt" refers to the simultaneous receipt of two types of monetary benefits: military retired pay and Department of Veterans Affairs (VA) disability compensation. This report addresses the two primary components of the concurrent receipt program: Combat-Related Special Compensation (CRSC) and Concurrent Retirement and Disability Payments (CRDP). It reviews the possible legislative expansion of the program to additional populations and provide several potential options for Congress to consider.
Date:
September 24, 2010
Creator:
Henning, Charles A.
Object Type:
Report
System:
The UNT Digital Library
Argentina's Defaulted Sovereign Debt: Dealing with the "Holdouts"
In December 2001, following an extended period of economic and political instability, Argentina suffered a severe financial crisis, leading to the largest default on sovereign debt in history. This report discusses efforts Argentina has made over the past decade, since that financial crisis, to restructure its debt. The report also includes discussion of the Argentine 2010 Bond Exchange and an outlook of Argentina's economic future.
Date:
September 24, 2010
Creator:
Hornbeck, J. F.
Object Type:
Report
System:
The UNT Digital Library