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International Deposit Insurance Survey
Section 1: Background Information 1.1 Organization (deposit insurer) responsible for administering the deposit
insurance system:1.1.1 Organization Name:Federal Deposit Insurance Corporation
1.1.2 Organization Address:550 - 17th Street, NW, Washington D.C. 20429, USA1.1.3 Organization Telephone No:
+1 877 275 33421.1.4 Organization Fax No:+1 703 812 10201.1.5 Organization Internet Address:http:www.fdic.gov1.2 ontact Person(s):1.2.1 Contact Person(s) Name:Frederick Carns, Director, Office of International Affairs1.2.2 Contact Person(s) Address:550 17th St., NW, Washington, DC 20429 USA 1.2.3 Contact Person(s) Telephone: 202 898 3939 1.2.4 Contact Person(s) Fax: 202 898 6794 1.2.5 Contact Person(s) E-mail address: fcarns@fdic.gov 1.2.6 Are there other deposit insurance systems operating in your country ? (i.e. applying to other types of non-bank or non-depository institutions e.g.. insurance, securities) Please state their name(s) and contact information: National Credit Union Administration 1775 Duke Street Alexandria, VA 22314-3428, USA +1 (703)518-6300 +1 (703)518-6660 fax http://www.ncua.gov/index.html contact: boardmail@ncua.gov 1.3 Please provide information on other participants in your financial system Canada Deposit Insurance Corporation safety-net: 1.3.1 Name of Central Bank: Board of Governors of the Federal Reserve  system 1.3.2 Central Bank Address: 20th and Constitution Ave. NW, Washington D.C. 20551, USA 1.3.3 Central Bank  Telephone: +1 202 452 3000 1.3.4 Central Bank Fax: +1 202 452 3819 1.3.5 Central Bank Internet Address: http://www.bog.frb.fed.us 1.3.6 Central Bank Contact Person: http://www.bog.frb.fed.us 1.4 Financial Supervisor: 1.4.1 Financial Supervisor Name: Office of the Comptroller of the Currency (OCC) 1.4.2 Financial Supervisor Address: Independence Square, 250 E Street, SW, Washington D.C. 20219-0001, USA 1.4.3 Financial Supervisor Telephone:  +1 202 874 5000 1.4.4 Financial Supervisor Fax:  1.4.5 Financial Supervisor Internet Address and contact:  http://www.occ.treas.gov, foia-pa@occ.treas.gov 1.5 Other related entities: 1.5.1 Other Related Entities Name: Office of Thrift Supervision  1.5.2 Other Related Entities Address: 1700 G Street NW, Washington D.C. 20552 1.5.3 Other Related Entities Telephone: +1 202 906 6000 1.5.4 Other Related Entities Fax: Canada Deposit Insurance Corporation 1.5.5 Other Related Entities Internet Address: http://www.ots.treas.gov Section 2: Objectives, Mandates & Powers  2.1.1 When and why was the DIS established (please provide details)?  The United States Congress established the U.S. deposit insurance system in 1933 with the passage of The Banking Act of 1933, which was signed into law by President Franklin D. Roosevelt on June 16, 1933. Actual insurance of bank deposits became effective on January 1, 1934, when the FDIC began its operations. The initial deposit insurance plan was temporary but it became permanent with the passage of The Banking Act of 1935. The DIS was established at the height of the Great Depression in the United States, when many banks were unable to meet their obligations. 2.1.2 What are the stated public policy objectives or mandate for your countrys DIS? When was the last time they were reviewed and changed? The FDIC has three basic mandates: (1) to provide deposit insurance for the vast majority of banks and savings associations in the United States; (2) to act as the primary Federal regulator for some of the banks (state-chartered banks that are not members of the Federal Reserve System) that it insures; and (3) to serve as the receiver and liquidator of failed banks. These basic mandates are periodically reviewed, although the FDIC’s basic mandates have not changed over the years. 2.1.3 What process was used to determine these objectives in your country?  Determined by discussions among U.S. government officials, banking industry officials, trade group officials and others who were involved in the legislative process leading up to the enactment of The Banking Act of 1933. 2.1.4 What is the legal basis under which the DIS was established? Please provide a copy. Legislation 2.1.5 Is there a formal process for a periodic review of the policy objectives/mandates?  No However, the United States Congress can review the deposit insurance scheme at any time. 2.1.6 What sort of system do you have?  Government legislated and administered 2.1.7 Who makes decisions to pay depositor claims?  DIS The chartering authority generally makes decision to close institutions and appoints the FDIC as receiver of the failed institution. FDIC then determines how and when to pay depositor claims. 2.2 Which of the following powers has been provided to the DIS in order to carry out its mandate? 
2.3 Authority to 2.3.1 Enter into contracts Yes Canada Deposit Insurance Corporation Yes 2.3.2 Set regulations or by-laws for conduct of its business Yes 2.4 Authority over entry and exit of member deposit taking institutions 2.4.1 Establish terms and conditions of membership Yes 2.4.2 Authority to terminate the insured status of a member institution Yes2.5 Depositor reimbursement 2.5.1 Affect reimbursement of depositors claims Yes 2.5.2 Access to depositor information Yes 2.5.3 Use various methods of reimbursing depositors claims Yes 2.6 Funding 2.6.1 How funding is provided Yes Deposit insurance assessments paid by member banks and interest earned on the deposit insruance fund 2.6.2 Terms and conditions of premiums or levies Yes Risk-based premiums 2.6.3 Borrowing authorities and limits Yes Borrowing authority and limits are provided by statute 2.7 Information Requirements 2.7.1 Access to information directly from member deposit taking institutions or its auditors Yes All insured institutions file either a quarterly Report of Income and Condition or a quarterly Thrift Financial Report.

 
Insurance Corporation of America has provided group medical, life and other coverage's to the transportation industry since 1977. The Company's relationship with the Indiana Motor Truck Association (IMTA) began in 1990
ICA has several unique arrangements for members of the IMTA. Group insurance can be offered to Bone fide employee groups. Additionally, coverage can be provided to Independent Contractor Drivers. These plans include:

  • Nationwide PPO Networks
  • Choice of Deductible
  • Prescription Drug Card
  • Wellness Benefits
  • Doctor Office Co-pays
  • Full Maternity
  • Coverage for Pre-Existing Condition
  • Vision
  • Dental
  • Life Insurance
  • Disability
 
Edulyrix Insurance
Insurance Corporation - America
Insurance Corporation of America (ICA) is a licensed insurance marketing & service organization doing business in the Midwest, primarily in Indiana, Illinois and Kentucky. However the company has insureds in almost all states through its various group plans.
The Company's mission is the design, implementation, sales and service of employee benefit plans to both small and large employers as well as trade and professional associations. The Company also provides individual life insurance for both personal and family protection as well as for business purposes such as Keyman Insurance, buy-sell Funding, debt protection, etc. Individual medical policies such as Medicare supplement, Medicare "D", short-term medical, and individual medical are all provided to our customers as well as disability and retirement plans.
The company enjoys exceptional capacity to provide a wide range of insurance to its clients. The following are some of our contracted insurors. Our goal is to provide the most coverage through the most competitive insurors for our customers.