Insurance Companies

Rector & Associates is skilled at helping insurance companies and other business concerns navigate the regulatory system in any state and at the federal level. The firm’s staff can help anticipate and resolve industry regulatory issues that arise relating to property/casualty, life/health, and managed care operations and products.

Transactional Services

When companies are considering buying, selling, merging or entering into other significant transactions, Rector & Associates can help with:

• Structuring and evaluating transactions from a regulatory, business and financial standpoint
• Obtaining regulatory approvals for business transactions, including Form A and D filings
• Preserving licenses in sales and mergers of insurance companies
• Performing due diligence for potential business transactions
• Structuring and evaluating title insurance agency joint ventures

Financial Services

Rector & Associates can assist with all types of insurance financial matters by providing the following services:

• Assisting with life, health and property/casualty financial reporting requirements, including implementing required codification changes
• Performing forensic accounting services
• Developing financial models and projections using spreadsheets and other resources for use in management decision-making
• Monitoring insurance company financial operations and results on an on-going basis
• Evaluating business plans and other financial forecasts
• Assisting with implementation of the NAIC Model Audit Rule requirements, including developing, implementing and testing of internal controls over financial reporting
• Performing operational and internal audits
• Assisting with evaluating insurance company investment portfolios

Rector & Associates also has specific expertise in reinsurance matters and can provide the following services:

• Assisting with reinsurance commutation decisions
• Evaluating reinsurance needs, including catastrophic reinsurance coverage issues
• Evaluating reinsurance contracts for compliance with regulatory requirements, including mandatory contract provisions and appropriate transfer of risk
• Assisting with calculation of premium adjustments and coverage gaps

General Regulatory and Operational Services

Rector & Associates can help insurance companies and other business concerns with all types of insurance regulatory compliance issues, including the following:

• Anticipating and solving insurance regulatory compliance issues arising in any state or under federal regulation
• Acting as a liaison to any department of insurance
• Applying for certificates of authority in any state
• Performing operational, claims and market conduct insurance reviews
• Performing senior management functions that are outsourced by insurance companies
• Assisting with TPA, agency, and broker licensing and compliance issues in any state
• Obtaining approval of product form and rate filings for any type of insurance product

Actuarial Services

With property/casualty actuaries (FCAS and MAAA) on staff, Rector & Associates can meet most any property/casualty actuarial need, including the following services:

• Determining, setting and testing property/casualty loss reserves
• Developing, reviewing and filing property/casualty policy forms and premium rates
• Completing special projects that require innovative actuarial methods and thinking
• Evaluating the impact of new and existing legislation
• Assessing business plans and financial forecasts
• Evaluating processes and procedures for the establishment of case reserves/

Through an affiliation with a credentialed health actuary, Rector & Associates can effectively provide the following services:

• Determining, setting and testing life/health reserves and other actuarial liabilities
• Developing, reviewing and filing life/health policy forms and premium rates
• Preparing mortality, morbidity and persistency studies
• Testing existing products for profitability

Managed Care Services

Rector & Associates can assist with a range of regulatory compliance issues faced by managed care organizations, including the following services:

• Obtaining regulatory approvals, including licenses, operations modifications, and product expansions
  Performing compliance reviews of appeals processes
• Assessing compliance with external review and utilization review requirements
• Assisting with strategic growth decisions, including expansion into government-sponsored programs
• Responding to regulators’ questions on all facets of managed care operations, including rate increases and methodologies, benefit coverage decisions and eligibility issues
• Assisting with service area expansions, including network sufficiency and contracting requirements
• Solving provider network issues, including timing and amount of payments and contracting issues