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Insurance Placement Facility of Delaware

SCOPE OF EXAMINATION

The last examination was conducted as of December 31, 2000. This examination covers

the five year period of January 1, 2001 through December 31, 2005, and consisted of a general

survey of the Company’s business policies and practices; management, any corporate matters

incident thereto; a verification and evaluation of assets and a determination of liabilities.

Transactions subsequent to the latter date were reviewed where deemed necessary.

The format of this report is designed to explain the procedures employed on examination

and the text will explain changes wherever made. If necessary, comments and recommendations

have been made in those areas in need of correction or improvement. In such cases, these

matters were thoroughly discussed with responsible officials during the course of the

examination.

The general procedures of the examination followed the rules established by the National

Association of Insurance Commissioners’ (NAIC) Committee on Financial Condition Examiners

Handbook, and generally accepted statutory insurance examination standards.

In addition to items hereinafter incorporated as part of the written report, the following

were checked and made a part of the workpapers of this examination:

Fidelity Bond and Corporate insurance Conflict of interest statements Market Conduct items:

Complaints Policy forms Advertising All asset and liability items not mentioned

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