European Stars and Stripes (Newspaper) - October 17, 1990, Darmstadt, Hesse                                Wednesday october 17, 1990 the stars and stripes a Page 55 big . Insurance firms vulnerable if Economy Down severely report says by Cox news service Washington a five of the country a 20 largest property and casualty insurance companies Are a a vulnerable to failure during a severe economic downturn the consumer group Public citizen reported monday. A the failure of just one insurance giant would overwhelm the state funds designed to protect policy holders a said Joan Claybrook president of Public citizen. A the result could be another taxpayer bailout on the Model of the savings and loan  the insurance Industry quickly questioned the credibility of the report. The measurements did not accurately gauge the economic strength of the insurance firms and no actuaries or accountants were even involved in the study noted Sean f. Mooney a senior vice president and economist for the insurance information Institute. Mooney said the report was irresponsible and could itself jeopardize the financial Well being of otherwise healthy insurance firms. The five insurance companies cited in the report a Are not on the Brink of financial disaster a conceded Claybrook. Rather they Are a a vulnerable to insolvency or financial distress if the Economy takes a turn for the worse. The five companies a Aetna Aig Hartford Liberty Mutual and us amp go were each found lacking in four of the six solvency indicators used in the analysis entitled a insurance the next Industry in  the other insurance companies in the Survey were Allstate state farm usaa Lincoln Kemper Continental Chubb St. Paul nationwide Farmers Crum amp Forster Cna travellers fireman a fund and Cignac Ina. Only Allstate and state farm showed none of the potential danger signals the study said. The study looked at six standards in measuring the financial staying Power of the nations top 20 property and casualty insurance companies. There were three indicators of Long term weakness shrinking surpluses ratio of surpluses to losses and unusually wide Premium swings. Short term standards measured leverage the amount of risk the company insures compared with its Cushion against losses liquidity the Case in which investments could be concerted to Cash and the extent of its investment in High risk junk Bonds. Claybrook said she would not advise people holding policies with any of the five cited companies to change to another insurer but instead to write the insurers and urge More prudent management. Beyond mismanagement the report cited two reasons for an increased potential for an insurance solvency crisis a state insurance regulators Are overburdened and Ide funded. As a Radic and  a the problems Are exacerbated by cycles dips and peaks that occur every eight to ten years in the property and casualty insurance Industry and by the Federal Mccarran Ferguson act which exempts the insurance Industry from Federal antitrust Laws. Egu underfunded. As a result solvency regulation is a Espo Groom plans to take the plunge a twice Fayetteville w. A. A Tom King plans to marry Vivian Taylor saturday. Right after the ceremony he will kiss his Bride and then jump off a Bridge. King is one of 300 parachutists who plan to leap off North americans second highest Bridge 876 feet into the new River Gorge a Canyon that slices through West Virginia. The wedding on the new River Gorge Bridge Falls on the 11th annual Bridge Day. That a the one Day each year that the Span is closed to traffic so pedestrians can enjoy the autumn foliage a and parachutists can jump off. The event attracts the largest number of parachutists who belong to the . Base association. Base stands for building Antenna Span and Earth. A for most of the jumpers this is it a said Jean Boenish bases executive director. A they take their vacation time save their pennies and wait to get out to West  Boenish expects 300 jumpers from sue countries to participate including some from Australia and South Africa. The Bridge completed in 1977, is the longest steel Arch Bridge in the world and the second highest in North America after the 1,053-foot Royal Gorge Bridge in Colorado. About 100,000 spectators Are expected. Area hotels have been booked for months. King 39, a real estate agent in Memphis tenn., brought Taylor to Bridge Day last year and a she literally loved the place. A i fell in love with her. She fell in love with me. She fell in love with the Bridge a he said. He added a it seemed logical at the time to plan a wedding there. A skydiver leaps off the new River Gorge Bridge As a crowd above in a 1986 photo. The scene will be repeated saturday including a newly married Man plan to take the same route. Of onlookers watches from As hundreds of skydivers Taylor 34, a registered nurse said the wedding will be As traditional As it can be on a Bridge. She will Wear a gown and the Groom will Wear a Tuxedo. Five bridesmaids and groomsmen have agreed to attend. After the ceremony King two groomsmen and a few guests will leap off the Bridge. Taylor said that for her just watching is enough. She called last years experience a a natural High you just can to  but King a Veteran skydiver said there a nothing to worry about even though three people have been killed in leaps from the Bridge two during Bridge Day festivities. The last death was in 1987. A a it a fun. Its a sport. Its challenging a King said. A we done to think its dangerous. Nothing a dangerous if you know what you re  Boenish said most base jumpers Are trained skydivers. She described the experience a was soon As you jump off you re kind of suspended and then you Start falling and you get through that and what you Start to get into is that familiar Comfort of High  King describes the Bridge jump As a High anxiety followed by total  a the jump itself is extremely no rec racking but As soon As the Parachute opens and everything Sok its Beautiful a he said. The jumpers leap from the Bridges Center and fall at speeds nearing 60 Mph before slowing Down to land on a Sandbar Boenish said. Bush approval rating Falls to lowest level poll shows Sands of time Washington apr More poll respondents believe the country is going Down the tubes and president Bush a approval rating although High has hit a new Low according to a poll released monday. Only 19 percent of people surveyed trom wednesday through sunday said things in this country were a generally going in the right direction a according to the Washington Post Abc news poll. That was the lowest such response since the poll began asking the question in 1982. Seventy nine percent of respondents said they believed a things have gotten pretty seriously off on the wrong  most people still approve of the Way Bush is handling his Job a 56 percent. But Only a week before 65 percent approved in Early september three quarters of respondents approved. Similarly those approving the Way Bush is dealing with the Economy fell from 53 percent in september to 38 percent. Bush still received High ratings for his handling of the iraqi invasion of Kuwait a 64 percent Down from 78 percent in september. Respondents were asked if they approved or disapproved of the Way the president democrats in Congress and republicans in Congress were handling the deficit. Compared with the previous week the presidents a a approved response fell to 33 recent from 38 percent the democrats a Ell to 30 percent from 32 percent and the republicans fell to 23 percent from 33 percent. A in the stars and stripes 40 years ago today. Oct. 17,1950 a an american led task Force raced West toward Pyongyang capital of North Korea in an attempt to save an estimated 1,000 american War prisoners from possible Slaughter by their communist captors.30 years ago today. Oct. 17,1960 a pakistani officials said 3,000 people were killed in a Cyclone that swept in from the Bay of Bengal. A tidal wave followed the storm.20 years ago today. Oct. 17, 1970 a government officials confirmed that More than 300 persons were killed and hundreds More feared dead in one of the worst typhoons to hit the Philippines. Officials estimated that at least 300,000 were left homeless.7 0 years ago today. Oct. 17,1980 a president Carter said he would be willing to meet with iranian prime minister Mohammed Ali Rajai to discuss the Fate of the 52 american hostages a if he should be  but Carters spokesman said the president saw a no real possibility of such a meeting