ENFORCE20934

• Permit No: C1981041
• IBM Index Class Name: Enforcement
• Doc Date: 4/13/2001
• Doc Name: NOV
• Violation No.: CV2001005
• Media Type: D
• Archive: No

Fax~3038oE3558
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BEFORE THE DIVISION OF INSURANCE
STATE OF COLORADO
Proceeding No 0-01-212
_ ~ Apr 1? '01 1249 ?. 03
SUMMARY SUSPENSION ORDER, NOTICE OF HEARING AND NOTICE OF
CHARGES, AND WAIVER
IN THE MATTER OF FRONTIER INSURANCE COMPANY
Respondent
THE PEOPLE OF THE STATE OF COLORADO
- T0: Mark H. Mishler
President
Frontier Insurance Company
195 Lake Louise Marie Road
Rock HIII. New York 23775-8000
The Coforacio Commissioner of Insurance having determined that
The above named Respondent, New York corporation, holds a Certificate of Autf:ority tc
transact insurance business in the State of Colorado. The Colorado Commissioner has
jurisdiction over said Respondent and the subject matter of this proceeding.
As of March 14, 2001 the Division has not received a copy of the 2000 annual statement as
required by §10~-109, C.R.S.
A review of the I-Site information available shows tha Companys surplus at year end 2000 was
appro~amately $16,050,000, down from $199,576,000 as of December 31, 1999. Their RBC
ratio has gone from t23.3 at 12/31/99 to 7.0 as of 12!31!00. Both years are below the minimum
200% of authorized ~Antrol level RBC required for licensure.
The Company's state of domicile, New York, has advised this Division of their determination that
Frontier Insurance Company's surplus as of December 31, 2000 is not adequate in relation to tts
outstanding liabilities or finandai needs. Subsequently the New York Division directed the
Company to not write any new or renewal business in New York
Based on the above; the Colorado Commissioner has grounds to believe that the
Respondent's Certificate of Authority is subject to Suspension pursuant to §10-1-111(1)
(c) and Q}, C.R.S.
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