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Insurance Regulatory Services home Representative Engagements Clients Key Contacts: |
Insurance Regulatory Services |
News & Events |
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Invotex presents Banking-like Products of Life Insurers, Reinsurance Developments, and Possible Impacts of the Adoption of International Financial Reporting Standards (IFRS) by U.S. Insurers to the Connecticut Insurance Department. Invotex sponsors session, Practical Aspects and Implications of Adopting International Financial Reporting Standards, at NAIC Financial Summit in Tampa, FL. Invotex lectures on Examination of the Investment Function in a Risk-focused Exam and Financial Analysis at the Maryland SOFE Chapter’s meeting in Baltimore, MD. Jim Stangroom and Barry Lupus speak on Insurance Company Exposure to the Credit and Subprime Lending Crisis at the Carolinas Chapter of the Insurance Accounting and Systems Association Annual Conference, Myrtle Beach, SC. Invotex leads four sessions at SOFE’s Career Development Seminar in Nashville, TN. Tom Finnell discusses Internal Controls Reporting at the Property Casualty Insurers Association of America’s Model Audit Rule Seminar/Webinar, Chicago, IL. Tom Finnell chairs panel on proposed Optional Federal Charter legislation at Insurance Accounting and Systems Association Annual Conference, Seattle, WA. |
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Contemporary regulatory standards require that insurers develop and then continually challenge the adequacy of their risk assessment and management programs. In turn, insurance regulators need experienced, hands-on assistance in evaluating an increasingly complex array of such programs and their various risk mitigation strategies and controls. Such tasks can be especially challenging given the particular universe of constantly-changing risks that face each insurer. If financial stress overcomes an insurer’s ability to maintain its financial soundness, more urgent needs arise. Regulators must evaluate the root causes and provide proactive oversight, which can include the development, approval, and implementation of remediation or rehabilitation plans. In extreme situations, the company will be liquidated. Invotex is a leader in responding to initiatives by state insurance regulators and the NAIC to modernize the regulatory financial examination and analysis process in response to the heightened focus on risk. Our insurance professionals have diverse backgrounds in the industry and in public accounting, and the firm has strategic alliances that allow us to integrate specialty IT and actuarial expertise with our service offerings:
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