Risk Focused Exams

Dec 21st, 07
New exams, new questions

The NAIC continues to refine its new Risk Focused Examination approach.  Changes to the Examiners Handbook have been drafted and will be adopted in the near future.  The new approach will continue to be rolled out over the coming two years by insurance departments across the country.  So far, approximately 55 risk focused exams have been performed nationally.  The NAIC plans to have the approach be an accreditation standard by 2010, thereby requiring all examinations to be conducted with the risk focused approach.  Department personnel are going through extensive training to be ready to implement the new approach which will involve extensive interviewing of company management as well as audit committee and board members.   For copies of the drafts of those interview questions, please contact Renee, our office manager, rvedvig@strohmballweg.com.