-10-
funds in 1992 and 1993. Summit Consulting administered the self-
insurer funds, for which it received a fee of about 30 percent of
the insurance premiums. It bought 1-year (accident year)6
aggregate reinsurance policies from Crossroads for each of the
self-insurer funds except ESIF. Crossroads sold reinsurance
policies to Summit Consulting for the Florida Retail Federation
Self-Insurers Fund, the Louisiana Retailers Association Self-
Insurers Fund, and the Louisiana Employers Safety Association
Self-Insurers Fund. Summit Consulting paid the reinsurance
premiums for these three funds out of the money that it received
as the funds' third-party administrator. Crossroads sold
reinsurance policies directly to ESIF.
Petitioner was not part of Summit Consulting's management on
January 1, 1992, or January 1, 1993.
In January 1996, ESIF bought Summit Consulting.
D. Gulf Insurance Co.
Gulf was incorporated under the Companies Law of the Cayman
Islands on January 10, 1992. Gulf was owned by petitioner and
Paula Dockery, Mavis Dockery, Carl Dockery, and Michele Jones.
E. Crossroads' Claims Paid and Reserves for Unpaid Losses
As of December 31, 1995, Crossroads' claims paid, reserves,
and total expected losses for reinsurance policies written as of
6 An accident year policy covers accidents that occur from
Jan. 1 to Dec. 31.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011