INS Regulators Offer Assistance In Various Fields

INS regulators offer assistance in many areas. These insurance professionals have skills in several specialty fields, including risk-based financial examinations, financial analysis and admissions, information systems, actuarial services, market conduct research, and investment services. In addition, they may provide support with special projects and re-insurance. Comprehensive services for receiverships, liquidations, and rehabilitations are also provided.Areas within the risk-based financial services include four main topics. Among them are risk-focused surveillance, which includes team-mate customization, matrix design, introductory and advanced training, interviewing, and corporate governance assistance. The remaining three sections include traditional SRAs (Standard Reinsurance Agreements), full-scope and target examinations, and representation in lead states, multiple states or designated zones.The market conduct functions include market, baseline, traditional, comprehensive, and limited-scope analyses. These functions are focused on the enhanced use of existing data which is available to officials. This data can be interpreted in order to understand the economic behavior of insurers.The financial analyses and admissions services include domestic and foreign companies. They include on-site and off-site economic analysis, supervisory and admissions reviews, staff training, business planning reviews, and evaluations of overall financial processing methods. Other services include establishing procedures for economic analyses, including the prioritization of companies.Information systems services include computer-assisted auditing techniques, and evaluations of the controls within these systems. Among other tasks, information systems specialists conduct ethical hacking sessions (penetration assessments) in order to reveal vulnerabilities. These procedures help prevent unauthorized access to sensitive and proprietary data. Audit specialists access data files to conduct inclusion tests, select control and substantive samples, perform calculations and statistical analyses, reconcile and stratify financial data, and age balances. They are skilled at examining large volumes of information efficiently.INS regulators offer assistance in all areas of insurance. Their goals are to facilitate the fulfillment of responsibilities using the most cost-effective and efficient methods available. Recommendations are based on intensive research, extensive knowledge, and hands-on experiences.