Actuarial assumptions are crucial in helping companies determine what premiums they must charge to remain profitable and ensuring reserves are adequately reported. It is a common practice for insurance departments that need actuarial analysis for a Target Examination, Limited-Scope Examination, and/or routine Risk-Focused Examination to work with both internal and external actuaries.
An external review of the assumptions, methodology and conclusions reached by a company’s actuary can be helpful in providing insights into the quality and efficiencies of the examination review, and effectively communicated to state regulators for their on-going risk-focused surveillance charges.
Eide Bailly actuaries have the necessary qualifications as well as the expertise to perform full or limited scope examinations that meet or exceed accreditation requirements. Our actuaries will take the time to understand the unique characteristics of the company’s reserving practices. They work alongside our dedicated regulatory team and will communicate the results in the format that is required by the NAIC and understandable to financial examiners and other interested state regulators.
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