Insurance regulators need experienced, hands on assistance in evaluating a complex array of programs and their effectiveness. More than ever, regulators need experienced service providers to assist in their examinations and analysis. Baker Tilly’s team of regulatory services specialists have experience in both auditing and examining insurance organizations.

Experience and specialization

Benefit from insurance specialists with rich and varied experiences in helping states implement a risk-focused approach in the field, providing on-site training and support, as well as providing technical support in information technology (IT), financial analysis, actuarial, investments, financial analysis and reinsurance areas.

Our specialists have been involved in examinations of life, health and property/casualty companies of all sizes, including some of the industry’s largest insurers. Learn about our team’s experience and credentials.

Services

Financial examination support

State insurance departments are now required to perform risk-focused financial examinations. Baker Tilly can help states meet this requirement, regardless of where they are in the process.

  • Risk-focused advisory services
  • Financial examination services
  • Actuarial support
  • Training (e.g., regarding financial analysis, risk assessment, ORSA, risk-focused exam approach)
  • Investment and derivatives specialist services
  • Capital market transactional reviews and analysis
  • Enterprise risk management (ERM) and own risk and solvency assessment (ORSA) evaluation
  • Corporate governance assessment
  • Captive insurer and risk retention group specialist services

Financial analysis

  • Routine or special assignments, including examination assistance
  • Admissions
  • Troubled companies
  • Holding company filings
  • ERM and ORSA analysis
  • Investment risk management analysis
  • Evaluation of financial forecasts and projections
  • Evaluation of risk-based capital recovery plans
  • Evaluation of Form A, D, F and other regulatory submissions
  • Reinsurance treaty review
  • Claims:
    • Claim management and contract disputes
    • Damage analysis
    • Litigation and dispute resolution support
    • Agency/MGA/TPA investigations

Rehabilitation, liquidation, receivership and supervisory

  • Receivership administration, control, and management
  • Asset recovery and litigation support
  • Advisory services to rehabilitators and liquidators
  • Litigation support

Information technology and cybersecurity assessments

  • Outsourced IT examinations – full-scope, cyber and targeted
  • IT examination risk assessment – co-sourced with state for execution
  • IT examination advisory – pre exam consultations
  • ERM and corporate governance assessments
  • Cybersecurity risk assessments and gap analysis
  • NAIC cybersecurity examination preparedness
  • Department IT / cybersecurity training
  • External / internal network security testing
  • Network and firewall architecture reviews
  • Application security testing
  • Wireless and mobile security reviews
  • PCI (payment card industry) compliance readiness
  • Phishing and social engineering risk assessment and testing

Transaction analysis

  • Evaluation of proposed transactions, unique and/or complex

Learn about our examination readiness services for insurance organizations.


Connect with our team >

To understand how we can assist your organization or to submit an RFP, please contact our team.

Internal audit: Emerging insurance technology and IT internal control trends

Internal audit: Emerging insurance technology and IT internal control trends

Explore trends observed and practical implementation in deploying technology throughout insurance companies and the impact on an entity’s internal audit plan. In addition, understand observed gaps in IT internal control structures when deploying technology.

Learn more >
Professional employer organizations (PEO) may lead workers compensation to InsurTech

Professional employer organizations (PEO) may lead workers compensation to InsurTech

The history of PEO’s involvement in workers compensation has been fraught with bad actor scams and insurance company insolvencies. Now, through the rise of InsurTech, companies may see truly useful transformation within traditional workers compensation models.

Learn more >