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CED-78-121 1 (1978-05-31)

handle is hein.gao/gaobaaxid0001 and id is 1 raw text is: RELEASLL REPO RT BY THE Mioio10i 1 Comptroller General OF THE UNITED STATES Arson-For- ofit: More Could IBe Done To Reduce It In this report, GAO discusses the extent to which the Federal Riot Reinsurance Program and the Fair Accesstol nsurance Requirements Plans, established by the States, provide in- centives for arson-related insurance fraud, i.e. arson-for-profit. Fair Access to InsuranLe Requirements Plans, authorized under Federal law, are privately owned organizations, which operate like pri- vate insurance companies, but are established by State legislation. These Plars provide es- sential property insurance in urban and other areas where the insurance industry will not. Although these Plans operate under the super- vision of States' insurance authorities, the Department of Housing and Urban Dc eIop- ment Federal Insurance Administration re- viaws the Plans operations to assure that es- wential property insurance is provid&d. Although statistics are lacking, arson-for- profit is considered to be a setrious problem in the Plans. GAO makes recummepdations in this report to help reduce it. CED-78-1 MAY 31. 19