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<br />BEFORE THE DIVISION OF INSURANCE <br />STATE OF COLORADO <br />Proceeding No 0-01-212 <br />SUMMARY SUSPENSION ORDER, NOTICE OF HEARING AND NOTICE OF <br />CHARGES, AND 1NAIVER <br />IN THE MATTER OF FRONTIER INSUFcr,tJCc CC)IJirr',t:'` <br />Respondent <br />THE PEOPLE OF THE STATE OF COLORADO <br />T0: Mark H. Mishler <br />President <br />Frontier Insurance Company <br />195 Lake Louise Marie Road <br />Rock Hill, New Yor1c 23775-8000 <br />The Colorado Commissioner of Insurance having determined that: <br />he above named Respondent, New Ycrk corporation, holds a Certficate of Auttonty t,_ <br />transact insurance business in the State 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 §10-3-109, 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 from 123.3 at 12/31/99 to 7.0 as of 1?J31/00. Bath years are below the minimum <br />200% of authorized ~:ontrol level RBC required for licensure. <br />The Company's state of domicile, New York, has advised this Division of their determination that <br />Frontier Insurance Compan~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 ~n New York. <br />Based on the above, the Colorado Commissioner has grounds to believe that the <br />Respondent's Certificate of Authority is subject to Suspension pursuant to §10-1-111(1) <br />(c) and (j), C.R.S. <br />~ EXHIBIT <br />it <br />A <br />