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Practice Areas

Market Regulation Services

Our professionals are experienced in all lines of insurance and perform all types and sizes of examinations, including working with multi-state working groups and monitoring complex national settlement agreements. In addition to performing work onsite at the company, our Team has the ability to perform examinations from remote locations through the use of secure technology.  This approach helps to ensure the regulated entities’ data is maintained in a privileged and confidential manner, while also addressing the cost effectiveness of examinations. We can also assist your team regarding special projects or examinations by allocating members of our team.    We perform market conduct examinations in accordance with the National Association of Insurance Commissioners Market Regulation Handbook and applicable sections of your state’s insurance statutes and regulations. 

Our approach to market regulation and examinations includes the following phases:

  • Market Analysis. We analyze existing data to determine the regulated entities’ business practices and patterns of non-compliance with applicable insurance laws and regulations.
  • Planning and Compliance Risk. We evaluate the regulated entities’ operational areas of interest to the department, interview key personnel of the regulated entity and contrast the regulated entities’ policies and procedures and general business practices or patterns with applicable insurance laws and regulations.
  • Data Analysis.  Our Team works closely with our data analysts to review large amounts of data electronically to help narrow down the scope of the department’s concerns of the regulated entities’ business practices.
  • Verification of compliance. Our approach includes detailed sampling and transactional compliance testing of the specific areas and concerns of the department.
  • Analysis of resultsWe identify findings and develop criticisms of non-compliant business practices with applicable insurance laws and regulations.
  •  Report. Our report includes a summary of findings and observations in a factual, objective, concise and easily understood format that is customized to the needs of our clients.