Services

Many insurance departments struggle with the complexity of the market conduct examination process. Since market conduct examinations focus on many areas of a business — including marketing, advertising, policyholder services, underwriting, rating and claims practices — the process is often time-consuming and a strain on resources.

How we can help
Our approach to market conduct regulation assistance depends on the objectives and needs of your insurance department. Our professionals provide both targeted and comprehensive assistance.

We work in accordance with the National Association of Insurance Commissioners Market Conduct Examiners Handbook and applicable sections of your state’s Market Conduct Manual and its insurance statutes and regulations. Our approach to comprehensive examinations includes four phases:

1. Planning and compliance risk assessment – During the planning and compliance risk assessment phase, we consider the targeted areas and concerns of the department. Our second priority is to assess the general business practices or patterns of your company and how they comply with applicable market conduct laws and regulations. 

2. Verification of compliance – The verification phase encompasses detailed compliance testing of the targeted market conduct areas.

3. Analysis of results – This phase is the basis used to arrive at criticisms and findings as to the market conduct compliance information that has been reported to the department or was required during the examination.

4. Report – We provide a report that includes a summary of our findings and observations in a factual, objective, concise and easily-understood format.