-9-
prepared according to generally accepted accounting principles
and statutory accounting principles.
C. Summit Consulting, Inc.
Petitioner organized Summit Consulting in 1978 and was its
president and majority shareholder until 1984 when he sold it to
Alexander & Alexander Services, a worldwide brokerage firm. As a
condition of the sale, petitioner continued as president until
January 1, 1986. Summit Consulting is a third-party
administrator of group self-insurance funds.
In October 1984, petitioner hired William B. Bull (Bull) to
work for Summit Consulting. From 1984 to 1986, Bull served as
assistant to the president, vice president of operations, and
executive vice president. Bull became Summit Consulting's
president and chief executive officer (CEO) on January 1, 1987.
As president and CEO, Bull was responsible for the profitability
and management of the company. Bull's experience in the
insurance industry had focused predominantly on workers'
compensation. In the early 1990's, Bull was appointed to the
Governor's Workers' Compensation Task Force in Florida to help
reform the workers' compensation industry.
From 1978 to 1981, Summit Consulting established each of the
four self-insurer funds reinsured by Crossroads in 1992 and 1993.
Summit Consulting was the third-party administrator of these
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