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-3- <br />SCHEDULE TO NOTICE OF VIOLATION <br />Notice of Violation No.: CV-2000-O14 <br />NATURE OF VIOLATION: <br />Failure to maintain the Frontier Insurance Companv Reclamation Bond #113701 in compliance with <br />applicable Statutes and Reeulations: 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 Authorityunder 31 U.S.C. 5§ 9304-9308. <br />In addition, in its Quarterly Statement as of Se t~tember 30. 2000 submitted to the New York and Colorado <br />Insurance Departments, Frontier reported [he followingfinancial facts: (a) a loss for the vear endive <br />December 31, 1999 of $111,759,600.00, aeainst a "surplus as reeards policyholders" for the vear ending <br />December 31. 1999 of only $199.575.913.00: (b) a loss for theyear 2000 to date of $28.376.289.00, aeainst <br />a "surolus as reeards policyholders" for the year 2000 to date of only $65,228.323.00. In its Quarterly <br />Statement as of June 30. 2000 submitted ro the New York and Colorado Insurance Departments, Frontier <br />rotted the following financial facts: (a) a loss for the vear 2000 to date of $31,948,997.00, against a <br />"surplus as regards policyholders" for the vear 2000 to 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) <br />PORTION OF THE OPERATION TO WHICH THIS NOTICE APPLIES: <br />All lands within the approved permit area for Permit No. C-96-083. <br />STEPS NECESSARY TO ABATE VIOLATION (REMEDIAL ACTION): <br />Replace the Frontier Insurance Companv Reclamation Bond # 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 Statutes and Reeulations: or (b) a Irrevocable Letter of Credit issued by a bank <br />acceptable to DMG, in a manner in compliance with all applicable Statutes and regulations; or (c) other bond which <br />complies fully with applicable Statutes and regulations. <br />TIME FOR ABATEMENT (NOT MORE THAN 90 DAYS): <br />ON OR BEFORE 5 P.M., Januar~8 , 20 Ol <br />02?IF (3/95) <br />WHITE -File YELLOW - Opzra~or PINK -Specialist <br />