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...,, ;. <br />BEFORE THE DIVISION OF INSURANCE <br />STATE OF COLORADO <br />Proceeding No 0-f~1-212 <br />SUMMARY SUSPENSION ORDER, NOTICE OF HEARING AND NOTICE OF <br />CHARGES, AND 1NAIVER <br />IN THE MATTER OF FRONTIER INSUF.r,NCc COIJ~rr.;~ ; <br />Respondent <br />THE PEOPLE OF THE STATE OF COLORADO <br />TO: Mark H. Mlshler <br />President <br />Frontier Insurance Company <br />195 Lake Louise Marie Road <br />Rock Hill, New York 23775-8000 <br />The Colorado Commissioner of Insurance having determined that: <br />he above named Respondent, New Yc!k corporation, holds a Certificate of Autf-onty tw <br />transact insurance business in the Sate of Colorado. The Colorado Commissioner has <br />jurisdiction over said Respondent and the subject matter of this proceeding. <br />As of March 14, 2001 the Division has not received a copy of the 2000 annual statement as <br />required by X10-3-109, C.RS. <br />A review of the I-Site information available shows the Company's surplus at year end 2000 was <br />approximately $16,050,000, down from $199,576,000 as of December 31, 1999. Their RBC <br />ratio has gone frcrrn 123.3 z' ? 2r3 V99 'c 7.C as :,f 12'31100, Beta yezrs are ~eiew the minimum <br />200°o cf authori~~d ccntrcl level RBC required far licensure. <br />The Companys state of domicile, New York, has advised this Division of their determination that <br />Frontier Insurance Company's surplus as of December 31, 2000 is not adequate in relation to its <br />outstanding liabilities or finanaal needs. Subsequently the New York Division directed the <br />Company to not writ: any new or renewal business in New York. <br />Based on the above, the Colorado Commissioner has grounds to believe that the <br />R°Spond°r;~'Sr.°rtlfiC2t° Ci AU`hCn*! .5 SL'``;°C~ `C Ci,c-.anS~On ',U"5::3,^,t t0 61C]-1-111(1) <br />(c) and (j), C.R.S. <br />'+ EXHIBIT <br />A <br />