Listed below are recent examples of our professionals’ experience with insurance regulators:
- Invotex provided advisory services to the domestic state overseeing a financial guaranty insurer that is experiencing financial stress due to the subprime / credit market crisis. We met with management and with the company’s claimants to understand the nature and extent of financial stress, the related issues, and their potential implications. We reviewed the company’s financial projections and underlying assumptions and provided the Department with insightful advice to enable them to evaluate restructuring alternatives and to make timely regulatory decisions.
- We were engaged by the Financial Analysis Division of a state insurance department that sought to better understand the nature of certain complex products offered by a large insurer, how those products fit within the company’s overall business strategy, the impact on the company’s risk profile, and how the company assessed and measured the risk assumed. Our advice was critical to enabling the state to respond to the company’s request to relax regulatory limits in place over those products.
- Invotex has led large and complex pilot examinations utilizing the NAIC’s Risk-Focused Examination Approach. Our clients benefited from our technical grasp of risk management /ERM, from our knowledge of the new examination approach and its practical challenges in the field, as well as from our solid project management skills that brought these projects to completion on time and on budget. Insurance department examiners benefit from our collaborative approach which enables them to learn the risk-focused examination approach as an integral part of a multi-disciplinary examination team.
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