“Serving Regulators Exclusively”

Traditional risk focused examinations

The INS Companies specialize in all aspects of conducting risk focused financial examinations of insurance companies on behalf of state insurance departments.  We have the expertise and resources to perform any type of financial examination, from limited scope or targeted examinations, to full scope multi-state coordinated examinations.  All examinations are conducted in accordance with the NAIC Financial Condition Examiners Handbook and with a thorough understanding of NAIC accreditation standards, current exposure drafts and NAIC working group activities.

Examination teams include subject matter experts (SMEs) with unique skill sets that can assist regulators in multiple areas including identifying operational and prospective risks, assessing corporate governance and enterprise risk management functions, and documenting the understanding of a company via the use of organizational and critical process flows of key functional activities.  The INS Companies also provides full time in-house information technology and actuarial professionals, a distinct benefit to utilizing The INS Companies for your examination needs.

Our financial examination group is experienced in the examinations of small companies, mid-size companies, and in the coordination and execution of the largest of multi-state examinations for both lead states and participating states.   Pertinent activities for which we provide assistance on coordinated multi-state examinations include the following:

  • Communication and coordination with all participating and interested states in the planning and initial examination kick-off meetings
  • Coordination of the sharing of work papers and documents among participating regulators through the use of consolidated or individual TeamMate projects on separate or common servers, coordinated TeamMate database structures, and dedicated file-sharing utilities
  • Coordination and execution of regular status meetings with participating regulators and insurance company personnel
  • Coordination of common examination activities, such as C-level interviews, interviews with company management to obtain an understanding of the company, preparation of risk matrices, process walkthroughs, and the preparation of ongoing Supervisory Plans

InsRis utilizes its large, highly qualified and mobile national network of financial examiners to conduct all aspects of risk focused financial examinations anywhere in the United States and its territories. In addition to the conduct of financial examinations noted above, our professionals also provide specific expertise and guidance in the following areas:

  • Evaluation and assessment of reinsurance programs and risk transfer for proper risk mitigation
  • Evaluation and assessment of a company’s investment portfolio to identify unmitigated risk areas
  • Evaluation and assessment of a company’s underwriting processes and pricing risks and procedures to determine prospective risk areas
  • Evaluation and assessment of an insurance group’s holding company system and intercompany relationships and transactions to identify associated risks
  • Assistance with insurance department analysts in evaluating and assessing complex transactions, agreements, and other unique or complicated insurance company filings

Captive examinations

The INS Companies have been serving captive regulators for years, and in 2013 we created a dedicated captive division in order to better serve the rapidly expanding captive community.  Recognizing the unique nature of captives, The INS Companies identified a dedicated team of captive professionals led by our most experienced captive supervisor.  Our team of captive professionals was carefully selected based on their prior experience with captives and small insurance company examinations. All of our captive professionals have completed an extensive training program which covered topics including the life cycle of captives, captive admissions, captive examinations, the unique characteristics of captives, and the unique regulator/captive relationship.

The INS Companies captive professionals have examined all types of captives: special purpose financial captives, pure captives, branch captives, industrial captives, association captives, agency captives, series business units and risk retention groups.    In addition to examinations, our captive examination professionals have worked on captive admissions, analysis and captive rehabilitations and liquidations.  All of our captive regulatory assistance is conducted with a clear understanding of confidentiality requirements.

The INS Companies have developed and executed a number of captive examination work plans, recognizing that each jurisdiction we serve is unique.  All examinations are completed within TeamMate, and our state of the art technology environment allows us to host all examinations, including those where multiple versions of TeamMate are used simultaneously.

Claim reviews

The INS Companies claim experts provide targeted claim reviews that focus on the evaluation of case reserve adequacy along with a review of, and recommendations to improve, the claim administration process. The scope of a claim review may vary based on the specific concerns of our clients, but the typical review will include:

  • Meetings with key claims personnel
  • A review of the reserving and claims handling processes
  • An assessment on the backgrounds and abilities of claim staff
  • An assessment of the claim management team
  • A review of expense and litigation management
  • A review of particular claim files
  • A summary of recommendations for the claims unit

Our claim personnel are subject matter experts on industry best practices, claim processes and the content of claim files. When reviewing claim files, our subject matter experts evaluate the overall condition of the files, the timeliness of responses to outside correspondence/e-mails and will compare processes to industry best practices. Included in our review and file assessment are:

  • Current controls and procedures
  • Investigation and file management
  • Damages and settlements
  • Expense control and the use of outside parties
  • Establishment of reserves and settlement authority
  • Litigation management
  • Negotiation and subrogation
  • Structured settlements and special investigations
  • Industry benchmarking

Deliverables will include a final report and executive summary.


The INS Companies reinsurance professionals have many years of experience providing assistance in the review and evaluation of complex reinsurance treaties, transactions and programs, including cash flow analysis to determine risk transfer. Our professionals also provide comprehensive reinsurance services to regulatory agencies in the rehabilitation and liquidation of both property/casualty and life/health insurance companies.  Services include management of the reinsurance accounting practice; review and evaluation of intricate reinsurance agreements and programs; identification, evaluation and collection of reinsurance recoverables; and the performance and negotiation of commutations.  Our professionals possess:

  • In-depth knowledge of the reinsurance guidelines prescribed by the NAIC in the Financial Examiners Handbook and the NAIC Accounting Practice and Procedures Manual
  • Knowledge of the NAIC model regulations and many state laws relating to reinsurance including mandatory clauses and associated best practices
  • Ability to review and analyze the reasonableness and adequacy of insurance company reinsurance programs; ability to review catastrophe modeling
  • Capability to provide in depth knowledge of contracts, claims, accounting and underwriting coupled with related transactions; ability to readily identify coverage gaps and loss corridors
  • Capability to accurately calculate premium adjustments and retrospective premiums
  • Experience with pooling arrangements, fronting, cut through endorsements, portfolio transfers and commutations
  • Ability to analyze credit risk related to reinsurance recoverables including financial analysis of Annual Statement Schedules F and S and reviewing all types of funding mechanisms
  • Ability to perform cash flow analysis to determine risk transfer
  • Experience as an expert witness for the proper accounting of reinsurance contracts
  • Ability to map reinsurance programs to largest amount at risk and to assess a company’s risk appetite as articulated in its ORSA
  • Ability to review applications for certified reinsurers and evaluate financials with an understanding of international solvency and accounting standards
  • Ability to assess reinsurance risks and controls including interviewing senior level management
  • Experience in reviewing use of catastrophe bonds and access to capital markets

Market conduct examinations

The INS Companies market regulation professionals perform two general types of market conduct examinations:  single state (comprehensive, targeted, risk-focused and limited-scope/issue driven) and multistate/collaborative efforts.


Our examinations typically include a procedural review process in combination with a review of a random selection of files.  The INS Companies experienced teams of examiners are capable of providing market conduct examinations for all lines of business and of any desired scope.  INS can also provide staff to augment an insurance department’s own examination professionals.


Multistate/collaborative examinations can be challenging to manage.  Our market regulation professionals are familiar with the challenges encountered when managing an examination that expands into multiple states, territories and jurisdictions. The INS Companies conduct all examinations maintaining high standards of integrity and will provide additional reports, input and feedback to assist our client states in cooperating with the Market Actions Working Group (MAWG).


A market conduct examination may include any or all of the following areas:

  • Company Operations and Management
  • Complaint Handling
  • Producer Licensing
  • Sales and Marketing
  • Underwriting and Rating
  • Claims Handling
  • Policyholder Service
  • Other Specialized Areas

Market analysis

The INS Companies market analysis team includes individuals who were involved in the development of the market analysis process. The underlying goal of market analysis is to better utilize the data and information already available to a state in understanding the marketplace behavior of insurers. Market analysis allows a state to identify companies that may require further review.

Currently, large amounts of data are reported to and collected by states: the financial annual statements, interrogatories, consumer complaint indices, examination histories, market conduct annual statements, etc.  Our market analysis professionals are qualified to assist in locating existing data and providing examples of innovative ways to utilize that data. INS is able to aid states with completing the NAIC’s Baseline Analysis, Level 1 and Level 2 Analyses and conducting any of the options within the Continuum of Regulatory Responses. Our team of experts is also experienced with assisting states in the Market Conduct Annual Statement process; from assisting with providing a company waivers and extensions, to conducting the analysis on the MCAS filings, as well as recommending companies for further review.

When used correctly, data and information can assist a state in identifying predictors of potential problems, assist in effective resource allocation, and provide a greater understanding of the marketplace.  The INS Companies market analysis professionals have experience with all of the NAIC’s market regulation electronic applications including: Complaint Database System (CDS), Examination Tracking System (ETS), Market Analysis Review System (MARS), Market Analysis Profile (MAP), Market Analysis Prioritization Tool (MAPT), Market Conduct Annual Statement (MCAS), Market Initiative Tracking System (MITS), Regulatory Information Retrieval System (RIRS) and the Special Activities Database (SAD). Our analysts are also experienced with the Financial Annual Statement data, National Insurance Producer Registry (NIPR), and the System for Electronic Rate and Form Filing (SERFF).

Continuum of regulatory response options

Emerging issues are not always identifiable and/or quantifiable. Examples of this are insurers expanding the use of credit reports, the use of genetic testing in underwriting life insurance policies, and some of the recently proposed regulations for the Affordable Care Act (ACA). To this end, The INS Companies offer expertise not only with the development and collection of new data in the market analysis process, but also in the development of analytical techniques that best utilize the data.

The INS Companies provide assistance with any of the options within the continuum of regulatory responses:  targeted information gathering, marketplace studies, investigations and interrogatories.  The INS Companies can provide assistance with training and guidance in updating and using the market regulation databases.


The INS Companies employ many full time credentialed actuarial professionals.  Whether participating in traditional insurance company risk focused financial condition examinations or examinations of captives and risk retention groups, the INS actuaries are able to provide specialist services tailored to the needs of our client states.  We have credentialed actuaries in both property/casualty and life/health areas of practice.  We provide:

  • Participation through all seven phases of a risk focused examination, including control identification and review of processes and products for inherent risk assessment, with attention to critical risk categories
  • Effective coordination with the examination team
  • Extensive experience in key activity risk matrix documentation and TeamMate workpaper documentation
  • Evaluation of all reserves for statutory compliance and actuarial soundness
  • Detailed documentation of procedures performed and compliance with actuarial standards
  • Assistance in development of management letters, supervisory plans, and exit conferences

Healthcare reform and Affordable Care Act (ACA)

The INS Companies’ actuaries are thoroughly familiar with and experienced in all things ACA including (but not limited to) the following:

  • Analysis and review of ACA regulations – proposed and final rules
  • Review of ACA compliant medical rate filings
  • Review of dental and student health rate filings including ACA compliance
  • Review of transitional non-grandfathered and grandfathered medical rate filings
  • Review of policy forms
  • Analysis and review of actuarial value/certification
  • Continuing education training seminars

Rate and form filing analysis

The INS Companies employ many full time credentialed actuaries in both property/casualty and life/health areas of practice.  The INS Companies’ property/casualty actuaries have experience in reviewing all actuarial aspects of rate/rule filing submissions. Our highly-skilled property/casualty team has specialists in workers’ compensation, automobile, and property, and we have generalists in all lines of business. The INS Companies’ life/health actuaries have experience in reviewing all actuarial aspects of policy form and rate filing submissions for all life insurance, annuity and health insurance lines of business.  Our assistance to insurance regulators includes the following:

  • Evaluation of actuarial content, including overall indicated rate level change
  • Evaluation of renewal impacts and dislocation
  • Review of life insurance, annuity and health insurance policy forms and actuarial memoranda for compliance with statutes, regulations and standards of practice
  • Review of and recommendation for approval or denial all types of health insurance premium rate increase requests
  • Review of long term care initial and rate increase filings – pre and post-rate stability
  • Administrative hearing assistance
  • Continuing education training seminars

Other specialized services

The INS Companies’ actuaries have exemplary presentation skills and have earned a reputation for being able to discuss technical material in understandable ways. When you combine this with our professionalism, it is easy to see why so many client states have used our services for a wide-ranging variety of activities. In addition to services for financial examinations, rate and form filing reviews, and healthcare reform, we have extensive experience in providing services related to:

  • Captive application reviews, including evaluation of projected premiums and losses, review of filed pro forma financial statements, and assessment of required capital
  • Long term care insurance, including analysis and review of long term care regulations, review of long term care rates for market conduct examinations, and analysis and review of actuarial certification
  • Reinsurance, including review for standard and exceptional contract language, review for transfer of risk, and commutation analysis
  • Liquidation services, including evaluation of loss and loss adjustment expense reserve levels and commutations
  • Specialized services in interpreting and understanding current and proposed statutes, regulations and actuarial guidelines and drafting or reviewing insurance department sponsored legislation
  • Asset/liability cash flow testing, including compliance with state requirements, actuarial guidelines, standards of practice and regulations
  • Business plan and financial forecasting analysis, whether for licensing a new insurer or for redomiciling an existing insurer, evaluation of projected premiums and losses, review of filed pro forma financial statements, assessment of required capital, and identification of risk areas and mitigating controls
  • Expert witness testimony, including preparation of analysis and documentation with professional demeanor and clarity of language

Examinations (EXHIBIT C)

The INS Companies’ information technology (IT) professionals specialize in conducting IT assessments in support of financial condition and market conduct examinations. We tailor the scope and staffing of our IT assessment to the needs of our clients; from conducting the overall IT assessment with our staff, to assisting and supplementing our client’s examination staff in their performance of the IT assessment. General controls over IT activities are integral to IT processes and services. These controls include: IT strategy and governance, security, change management, systems development, computer operations, and disaster recovery. Such controls aid in appropriate and efficient development and implementation of systems applications, integrity of program and data files, management information systems, and efficient computer operations. The IT general controls review is conducted during Phase I of the risk focused examination.

The INS Companies’ general controls review is based on the Control Objectives for Information and Related Technology (COBIT) framework developed by the Information Systems Audit and Control Association (ISACA), an internationally recognized body of IT related risks for governance and best practices, which was adopted by the NAIC in 2010 as the framework for the revised Exhibit C process. The assessment of the overall IT control structure is designed to assist the examiner-in-charge in evaluating part of the company's internal control environment. This aids in determining if more specific process and application controls, and application controls relating to the processing of transactions and information included in the company's annual statement, can be relied upon. This reliance thereby reduces the nature and extent of substantive examination procedures for the examination.
We also consider controls over significant management information systems that are important to management decision-making, but not necessarily for financial reporting.

Information is critical to an insurance enterprise for effective operations and reliable reporting and decision making. Application controls are controls over the input, processing, transmission, storage and reporting of data within an automated system, and are specific to each application. They help assure timely, accurate, complete and reliable information.

Most information-centric business processes are automated and contingent on IT application systems. The embedded controls within these IT application systems can be effective in enabling and enforcing segregation of duties, transaction authorization levels, multi-level transaction approvals, and transaction completeness edit checks. Sufficient application controls should exist to mitigate significant risks. The reliability of these controls will impact the nature, timing and extent of substantive procedures required of the financial condition or market conduct examination team. The INS Companies can assist in this process by identifying application controls that mitigate significant operational and reporting risks. Application controls are evaluated during Phase III of the risk focused examination process and are intended to provide specific control/risk mitigation to reduce inherent risk to an acceptably low level of residual risk.

For more information please contact: jerry.link@insservices.org

Cybersecurity Risk Assessments

The regulations of insurance companies have become more complex since the implementation of information systems on the World Wide Web and regulators have seen a growing responsibility. As insurance companies continue to place greater reliance on information technology systems, the security and integrity of Personal Identifiable Information (PII) and Personal Health Information (PHI) have become paramount.

Our audit program has been designed to determine if adequate safeguards are in place to protect the PII or PHI of consumers, specifically those of insurance companies. Based on this understanding, INS Services, Inc. (INS) has the ability to provide state regulators with an assessment of such safeguards through our internally developed framework. Our framework integrates NAIC regulatory standards with the guidance established by the National Institute for Standards and Technology (NIST), and European Network and Information Security Agency (ENIS) for Cybersecurity and guidelines for safeguarding Personal Health Information as established in the Code of Federal Regulations (CFR) Title 45 Part 164-Security and Privacy. This hybrid framework is designed to be a value-added service that provides greater assurance to existing examination procedures in addition to assessing consistently evolving risk. Furthermore, it is designed to assist regulators bridge financial and market regulation risk gaps and ultimately make knowledgeable and informed decisions as they relate to an insurer’s business practices.

For more information please contact: jerry.link@insservices.org

IT Forensics

With the revolution of the digital age, computers have become an indispensable tool for businesses to increase productivity and maximize profitability. This has caused the regulation of US insurance companies to become more complex and regulators have seen a growing responsibility. As insurance companies continue to place greater reliance on information technology systems, the validation of electronic data has become a critical aspect of an examination.
Our audit program has been designed to provide data quality assurance for regulatory examinations. The procedures include, but are not limited to, data forensics, data mining, visual data analytics, predictive analytics, and the use of traditional computer-aided audit tools.

Data Forensics Procedures

Data forensics has been integrated into the examination process using traditional forensic and incident response methodologies. Utilizing forensic tools, the examiners can independently identify and confirm significant systems, applications, and data sources without substantial reliance on company produced documents and reports. Procedures following this initial discovery include examination of source data, validating key vulnerability points (such as high-level access accounts), software configuration vulnerabilities and administration of information security. Additional procedures within scope may include various levels of “white-hat” vulnerability assessments (primarily externally focused), email inquiry investigation and incident response/data forensic investigations related to misconduct and/or fraud.

Data Mining Procedures

Traditional audit procedures rely on structured data for analysis and testing. Structured data consists of data that resides in a fixed field within a record or file contained in relational databases and/or spreadsheets. Structured data typically accounts for only 20% of the total data within an organization. Data mining now allows for the exploration of both structured and unstructured data to identify hidden patterns in financial, nonfinancial and textual data that has traditionally been undetectable due to the size and complexity of the data. Unstructured data is typically text heavy and refers to information that either does not have a pre-defined data model and/or is not organized in a predefined manner. Sources may include email, document repositories and text based records within a database such as those that accompany claim payments or accounts payable. Data mining procedures can be utilized to gain an understanding of trends, keywords, and keyword phrases.

Analytical and Computer-Aided Audit Procedures

Analytical procedures are used to assist the examination in multiple ways. With the knowledge obtained from the preliminary IT assessment, the examiner can help define appropriate data calls and data elements. Further visual and/or predictive analytical procedures consist of determining the plausible relationships amongst the data to identify unusual transactions, events, fluctuations or changes in business practice. These procedures can assist in developing the most appropriate sampling methodology. The use of computer-aided audit tools can assist the examination with the following types of procedures: confirmation of account balances, premium validation, general ledger and consolidation analysis, late payment cutoff timing, “negative” account identification, data exception testing for unusual data occurrences as well as any particular or customized data analysis steps that may need to be performed.

We can also perform customized data forensics and data analysis techniques as the scope or needs of a client changes. For more information please contact: jerry.link@insservices.org


Our hosting solution provides our client states with secure access to their custom audit applications and data, including the TeamMate software environment, over an encrypted and secure website. Hosting provides a powerful, secure, and stable environment without the necessity of our client states to deploy and manage their own TeamMate enterprise infrastructure, develop the technical environment, and devote resources to the management and administration of TeamMate software. The INS Companies’ hosting solution allows our clients to concentrate on their work while we handle the responsibility of supporting their personnel, including examiners and analysts, software and data.

With The INS Companies’ hosting solution operated from our fully secured offsite datacenter, information is protected from physical risks and unauthorized access. Industry standard firewalls, backup, and datacenter security technologies keep client data available and secure. Each client has its own separate database with individual user accounts and passwords. Disaster recovery and catastrophic event management are standard; data is backed up automatically and daily. We can retain examination data for up to six years and make it available for accreditation review.

With The INS Companies’ hosting solution, all that is required for our client state’s team is access to the Internet. All applications, including the TeamMate suite of software components and database(s), reside on our servers, managed on current VMware, Citrix, and Microsoft technologies with our proprietary configurations. Our team of certified system engineers performs all upgrades and maintenance.

For more information please contact: jerry.link@insservices.org

TeamMate design, upgrade, implementation and support

Due to our expertise in TeamMate and our technical support available at all times, The INS Companies design, upgrade, implementation, and support solutions have been successfully deployed on our clients’ infrastructure with our innovative hosting designs that allow for remote application use and the integration of complex SQL environments. Our team of certified engineers can design, implement and convert all TeamMate projects, and then support the infrastructure at the request of our client states. Our partnerships with Citrix and Microsoft allow our team to ensure compatibility with all component applications that are required for use in the TeamMate environment. Training of both end users and our client state’s IT staff is available after completion of the project.

For more information please contact: jerry.link@insservices.org

Microsoft and Citrix partners/ TeamMate champions/Technical support/Sharefile system

The INS Companies are one of the few authorized Citrix partners serving insurance regulators who have passed the difficult requirements set forth by Citrix Systems Inc. Consequently, our clients have full confidence that certified engineers are managing and supporting their important data. Collaborating with Citrix makes us members of the Beta test team that provides us with a first look at any new Citrix products, therefore bringing possible additional efficiencies to the examination process with the implementation of new state of the art technology. Our clients benefit from our first responder access to Citrix support staff, and our internal Citrix certified engineers can provide immediate resolution to any Citrix issues that may arise.

We are also a Microsoft partner, ensuring technology implementations are set up and supported by personnel certified as Microsoft experts in security, networks, servers, and applications. Compatibility issues with TeamMate are no longer a concern as we are made aware of updates and new Microsoft products prior to general public release. Consequently, we are able to test Microsoft compatibility with TeamMate and other examination software for increased efficiency and data integrity.

Through its investments in training and significant practical experience, The INS Companies are a leader in TeamMate knowledge. Our TeamMate experts, known as Champions, take an active role in the NAIC IT Examination Working Group. We continually send representatives to the TeamMate Forum to ensure implementation and adoption of the newest TeamMate technologies. Consequently, given this knowledge, our TeamMate Champions provide training to our clients in the latest TeamMate trends. Our TeamMate Champions are also members of the TeamMate Beta team, which is organized by the developer, CCH, a Wolters Kluwer business. This testing by the TeamMate Beta team provides a unique opportunity for us to participate in and lead the testing of new TeamMate products prior to deployment to our state regulatory clients. Our TeamMate Beta team members often introduce new ideas to the CCH TeamMate research and development teams to incorporate into the regulatory examination process to promote efficiency.

The INS Companies have a dedicated help desk, which is available at all times to our clients. Our IT support infrastructure facilitates immediate resolution of all end-user issues through a fully integrated technical ticketing system available online, via email, and through an 800 number. We understand the technical challenges facing our clients and have taken innovative steps to implement technology solutions to help ensure the integrity, accessibility, and management of our client’s examination and other data.

The INS Companies have established the INS ShareFile environment, a secure, web-accessible file-sharing environment to facilitate the exchange of examination files between insurance companies and examiners/analysts. Via a secure website, this environment allows for the upload, download, viewing, editing, and sharing of examination documents prior to upload into TeamMate. This new technology facilitates the transfer of company data to the examination team timely, efficiently and securely. Examination team members receive instant email notification when insurance companies upload data to the shared environment.

For more information please contact: jerry.link@insservices.org

Deputy receiver

The INS Companies have extensive experience in performing the services of a Deputy Receiver as appointed by the court appointed Receiver of an insurance company in supervision, Rehabilitation or liquidation.   The typical responsibilities assumed by the Deputy Receiver include, but are not limited to:

  • Coordination of all receivership activities
  • Day to day operations of the company
  • Management and oversight of all operating departments
  • Evaluation of strengths/weaknesses of the company’s operations and management team
  • Review of material transactions for appropriateness
  • Investigation and determination of fraudulent activities
  • Investigation and determination of third party liabilities
  • Identification and recovery of assets unique to the receivership process

Our dedicated rehabilitation and liquidation professionals are experienced in working with insurance departments, state and federal courts, law enforcement agencies and guaranty funds.

Receivership operations

The INS Companies’ rehabilitation/liquidation specialists have operational, consulting, technical, regulatory and industry expertise to assist or take control of an insurance company estate.   Our professionals can perform or augment tasks the Deputy Receiver must manage during the day to day supervision, rehabilitation or liquidation of a troubled company.  These tasks/functions may include any or all of the following:

  • Accounting
  • General ledger
  • Receipts and disbursements
  • Financial reporting
  • Court reports
  • Federal, state income taxes
  • Premium tax filings
  • Reconciliation and settlement of tax obligations
  • Policy underwriting
  • Reinsurance underwriting
  • Agent balances
  • Reinsurance collection and commutations
  • Proof of claim administration
  • Loss evaluation and notice of determination
  • Negotiate settlements
  • Provide reinsurer claim status
  • Actuarial and reserve setting
  • Coordination of third party litigation
  • Coordination with federal, state and local law enforcement

The INS Companies’ experienced consultants oversee property/casualty and life/health insurers, captives and risk retention group receiverships. The team includes actuaries, certified public accountants, certified financial examiners, experts in IT, claims and underwriting and attorneys. We work with the Deputy Receiver to create a plan to administer the receivership and to complete the tasks imposed by the court and the receiver.

Fraud investigations

The INS Companies team of fraud investigators provides assistance to regulators to determine and document the causes of insurance company insolvencies.   We utilize proven electronic forensic tools to secure data, data mine, conduct metadata analysis, recover data and complete integrity analysis during our review of financial and corporate records, asset evaluations, management practices, the review of agency contracts/reporting, and reinsurance contracts.

We can provide expert testimony in civil and criminal cases involving the insolvency of insurers and insurance related entities.

Training and education

As your business partner, The INS Companies are always available to lend technical advice and support on an as-needed basis. We are just a phone call or email away, and most often can provide immediate assistance on a variety of technical matters and industry trends.  In those instances where research is required, we have an expansive library of technical research materials and subject matter experts, and we are able to provide timely information and answers for almost any regulatory related insurance issue.

In addition to our technical support, The INS Companies also offer formal training programs (in person, or via webinar) for all levels of expertise, and for a wide variety of subject matter.  If we do not have a program already developed, we will customize materials to meet your needs. Our training resume is expansive and includes successful deliveries to numerous clients.

We also provide training on an ongoing basis to professional organizations, including the Society of Financial Examiners, the Insurance Regulatory Examiners Society and the International Association of Insurance Receivers.  Our training curriculum includes, but is not limited to:

  • Information Technology (Exhibit C, TeamMate, Other)
  • Financial Regulation (Examination Best Practices)
  • Market Conduct & Market Analysis
  • Actuarial (Property/Casualty and Life/Health)
  • Rehabilitation and Liquidation
  • Reinsurance (Contracts, Treaties, Commutation)
  • Accreditation
  • Affordable Care Act
  • Captives
  • ORSA
  • Cyber security/Forensics

Our training approach includes enhancing our own skills and knowledge by mastering the subject matter and, in turn, conveying our knowledge and experience to regulators, contractors and the insurance industry. Our training includes formal classes and webinars on various topics, including those relative to the policies, procedures, and guidance promulgated by the NAIC and other regulatory bodies, sharing of ideas, consensus building, enhanced and consistent skill levels, and uniformity.

Affordable Care Act

The INS Companies can assist in the field of actuarial and/or general policy issues associated with health insurance exchanges under the Affordable Care Act (ACA).  The INS Companies staff of full time life/health actuaries is able to provide a number of services including, but not limited to:

  • Qualified Health Plan (QHP) certification
  • Actuarial Value (AV) determination
  • Health benefit plan rate and forms review
  • Premium stabilization programs
  • Analysis of the impact of the ACA
  • Providing actuarial services needed to support the regulatory functions of Insurance Departments

The INS Companies financial Examiners and Affordable Care Act subject matter experts provide general ACA consulting services including, but not limited to:

  • Qualified Health Plan (QHP) certification
  • Network adequacy
  • Analysis of the ACA impacts
  • Insurance market reform strategy
  • Medical Loss Ratio (MLR) reviews
  • Special studies on the features of contracts between carriers and healthcare providers


The INS Companies professionals have been participating in the ongoing dialogue surrounding leading edge concepts regarding a company’s Own Risk and Solvency Assessment (ORSA).  The depth of actuarial and examination experience offered by The INS Companies makes us well positioned to provide assistance with the regulatory review of ORSA reports.

A recent publication released by the American Academy of Actuaries entitled “Actuaries and Own Risk and Solvency Assessment” identifies several actuarial qualifications and areas of expertise that are relevant for the review of an ORSA.  The INS Companies actuaries possess these skills, which include but are not limited to the following:

  • Evaluation of loss and loss adjustment expense reserve adequacy
  • Pricing expertise in personal and commercial lines, both for admitted and non-admitted business
  • Reinsurance reserving and pricing methodologies, including the impact of commutations and retroactive reinsurance
  • Economic capital modeling
  • Evaluation of underwriting guidelines and their impact on underwriting risk
  • Solvency capital requirements
  • Scenario and stress testing analysis
  • Risk aggregation and diversification analysis
  • Evaluation of documentation of actuarial procedures for compliance with actuarial standards

The INS Companies have provided leadership and input to the NAIC’s Financial Analysis Handbook (E) Working Group to develop guidance for reviewing ORSA reports, corporate governance and other projects as necessary in order to provide effective solvency monitoring.  We have also provided input and guidance associated with the NAIC’s Financial Condition Examiners Handbook to assist examiners in reviewing ORSA summary reports.  Our personnel have also participated in the NAIC pilot program to review confidential ORSA reports and provide input to the industry.

The INS Companies have presented at the Society of Financial Examiners (SOFE) and Insurance Regulatory Examiners Society (IRES) Career Development Seminars and other industry forums on the future of regulation utilizing the review of the ORSA reports.

Financial analysis

The INS Companies specialize in financial analysis of insurance companies on behalf of state insurance departments and other regulatory clients.  We have the expertise and resources to perform any type of financial analysis in the normal course of business or as a monitoring activity as the result of a statutory financial examination.  All our financial analysis projects are conducted in accordance with the NAIC Financial Analysis Handbook  and with a thorough understanding of NAIC accreditation standards, NAIC statutory accounting principles, current exposure drafts, and NAIC working group activities.

Our analysis teams includes Subject Matter Experts (SMEs) and former Chief Analysts with unique skill sets that can assist regulators in various areas including, but not limited to: identifying and judging risk, establishing Level 1 and Level 2 analysis procedures, creating criteria for risk monitoring frameworks and prioritization scoring models, validating financial insurance company reviews or isolated insurance transactions, providing training and guidance on financial analysis concepts, and addressing risk both financial and non-financial as related to Enterprise Risk Management (ERM), Corporate Governance, and ORSA, etc.

Our financial analysis group is experienced in the analysis of small companies, captives, and large sophisticated insurers that have complex holding company structures. Pertinent activities for which we provide assistance on financial analysis include the following:

  • Guidance and training to credit analysts on statutory accounting principles
  • Financial reviews of insurance companies for regulatory clients
  • Development of prioritization systems for our regulatory clients for property casualty and life/health insurance companies
  • Recommendations for enhancements to current monitoring activities, which may include the analysis or electronic software tools
  • Assist or complete specialized transaction analysis
  • Review complex holding company structures
  • Provide subject matter experts to complete turn-key financial analysis assignments in compliance with NAIC accreditation standards.

The INS Companies utilize our large, highly qualified and mobile national network of subject matter experts to conduct all aspects of financial analysis projects anywhere in the United States and its territories.

Accreditation evaluation and preparation

The INS Companies utilize professionals that are experts in the official standards, policies and procedures of the NAIC Financial Regulation Standards and Accreditation Program.  We have the expertise and resources to perform detailed pre-accreditation reviews that can assess an insurance department’s compliance with accreditation standards.  The purpose of the pre-accreditation review is to assist the state insurance department in its preparation for an accreditation review and/or to assist in improving areas of regulatory activities that have been a concern based on prior accreditation reviews.

Pre-accreditation reviews are typically performed by INS professionals who are also members of the NAIC accreditation review team, which gives them the specific knowledge of the insurance industry, regulatory procedures and state regulatory laws to provide effective recommendations to an insurance department.  We have the ability to work effectively with the leadership of an insurance department to implement review recommendations. INS accreditation professionals have participated in numerous accreditation reviews and have provided pre-review services to jurisdictions seeking accreditation.

A typical review begins with an evaluation of the compliance report and management letter from the state’s most recent review conducted by the NAIC accreditation review team to become acquainted with the department.   We then evaluate the department’s most recent interim annual review to gain an understanding of the practices and procedures utilized for adherence to accreditation standards.  The reviewer will also perform onsite procedures that will include some or all of the following:

  • Review the analysis files for compliance with accreditation standards and the accreditation review team guidelines and then discuss with the chief analyst best practices that could be incorporated into the process
  • Review the examination file(s) for compliance with accreditation standards and the accreditation review team guidelines and then provide best practices suggestions to the chief examiner
  • Perform a detailed review of the accreditation Part D Standards - Organizational, Licensing and Change of Control of Domestic Insurers procedures
  • Preform mock interviews of analysis and examination staff to prepare for an upcoming accreditation review
  • Prepare a pre-accreditation review report that summarizes our findings and recommendations

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