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<br />-3- <br />SCHEDULE TO NOTICE OF VIOLATION <br />Notice of Violation No.: CV-2000-O1 I <br />NATURE OF VIOLATION: <br />Failure to maintain the Frontier Insurance Company Reclamation Bond #110345 in compliance with <br />applicable Statutes and Regulations: On June 6, 2000, the U.S. Department of the Treasury issued a notice <br />in the Federal Register that it had revoked Frontier's Certificate of Authority under 31 U.S.C. §§ 9304-9308. <br />In addition, in its Quarterly Statement as of September 30, 2000 submitted to the New York and Colorado <br />Insurance Departments, Frontier reported the following financial facts: (a) a loss for the year ending <br />December 3l, 1999 of $1 11,759.600.00, against a "surplus as regards policyholders" for the year endi~ <br />December 31, 1999 of only $199,575,913.00: (b) a loss for the Year 2000 to date of $28,376.289.00, a ainst <br />a "surplus as re ards policyholders" for the year 2000 to date of only $65.228,323.00. In its Ouarter~ <br />Statement as of June 30, 2000 submitted to the New York and Colorado Insurance Departments, Frontier <br />reported the following financial facts: (a) a loss for the Year 2000 to date of 531,948,997.00, against a <br />"surplus as regards policyholders" for the Year 2000 [o date of only $157.198.981.00. <br />ACT, REGULATION, OR PERMIT PROVISION(S) VIOLATED: <br />ACT <br />SECTION(S) C.R.S. 34-33-113 <br />REGULATION <br />SECTION(S) 3.01. 3.02.1. 3.02.2, 3.02.4(2)(b) <br />PERMIT <br />SECTION(S) C-81-O12 <br />PORTION OF THE OPERATION TO WHICH THIS NOTICE APPLIES: <br />All lands within the approved permit area for Permit No. C-81-O12. <br />STEPS NECESSARY TO ABATE VIOLATION (REMEDIAL ACTION): <br />Replace the Frontier Insurance Company Reclamation Bond #1 10345 with either: (a) a reclamation bond issued by <br />a company with a current and valid Certificate of Authority from the U.S. Department of the Treasury and in <br />compliance with all applicable S[a[utes and Regulations: or (b) a Irrevocable Letter of Credit issued by a bank <br />acceptable to DMG, in a manner in compliance with all applicable Sta[u[es and re~gula[ions: or (c) other bond which <br />complies fully with applicable Statutes and reeulations. <br />TIME FOR ABATEMENT (NOT MORE THAN 90 DAYS): <br />ON OR BEFORE 5 P.M.. January 8 , 20 Ol <br />022IF(3/95) <br />WHITE -File YELLOW -Operator PINK -Specialist <br />