- 42 -
Under- Taxes Interest on
Net1 writing Boards & Funds Funds Net Payment
Month Premiums Expenses Bureaus2 Withheld3 Withheld to OPL4
Jan. $6,373,502 $76,007 $264,092$6,033,403-0- -0-
Feb. 8,379,506 104,700 363,788 7,911,018 $45,453 $45,453
Mar. 7,051,992 96,812 336,380 -0- 113,879 6,732,679
Apr. 6,006,226 89,018 309,300 -0- 142,349 5,750,256
May 5,618,472 89,260 310,139 -0- 113,879 5,332,953
June 7,201,394 109,594 380,792 -0- 113,879 6,824,888
July 5,028,899 82,593 286,976 -0- 146,416 4,805,745
Aug. 7,630,857 117,978 409,924 -0- 109,812 7,212,767
Sept. 5,936,652 94,812 329,431 -0- 142,349 5,654,758
Oct. 5,634,399 100,563 349,413 -0- 113,879 5,298,302
Nov. 7,678,285 38,663 434,621 -0- 113,879 7,318,880
Dec. 5,170,594 -0- 316,730 -0- 126,081 4,979,945
Total 77,710,778 1,000,000 4,091,58613,944,421 1,281,85559,956,626
1This column was arrived at by netting gross income and losses paid.
2This column contains the total amounts included on the bordereau for
taxes, board and bureau charges, and Federal excise taxes.
3In 1984, the net amounts to be remitted by NUF to OPL for January and
February were withheld in escrow by NUF.
4The "Net Payment to OPL" is calculated by reducing the net premiums
shown in column one by expenses, taxes, board and bureau charges, and funds
withheld and by increasing that amount by interest on funds withheld.
NUF paid Hall $250,000 from the $1 million it received from
petitioner as fees. OPL ultimately recorded the funds received
in its general ledger.
C. FFIC/PIP
Fireman's Fund Insurance Co. (FFIC), through a policy sold
by Parcel Insurance Plan, Inc. (PIP), since 1966, offered excess
value protection for shipments sent via petitioner, the U.S.
Postal Service, and other carriers. Most of FFIC/PIP's business
came from petitioner's shippers. PIP tried to solicit business
from petitioner's shippers who spent at least $1,000 annually for
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