All of the individuals listed by NOVO as possible participants on any scheduled examinations, either as an Examiner-in-Charge (EIC) or staff position, have extensive regulatory or actual insurance industry experience.
Our core staff includes Certified Financial Examiners (CFE), Certified Insurance Examiners (CIE), Certified Public Accountants (CPA), Chartered Property and Casualty Underwriters (CPCU), Fellow Life Management Institute (FLMI), Associate in Insurance Accounting and Finance (AIAF), Chartered Life Underwriter (CLU), Chartered Financial Consultants (ChFC), Market Conduct Manager (MCM), Certified Fraud Examiner (CFE), Automated Examination Specialist (AES), Certified Information Systems Auditor (CISA) and other professional, educational and industry designations. Our staff remains technically proficient as demonstrated by our instructing and attendance at various insurance seminars and meetings throughout the country. NOVO and/or its staff have regularly provided training and presentations to many insurance regulators, producers and providers.
The examination staff has proven success and experience in providing insurance company financial and market conduct examination services to various state insurance departments for many years. We have the capability to meet any regulatory area of need that your state may have. Our staff will utilize the latest regulatory examination techniques including TeamMate, automated examination procedures, Audit Command Language (ACL) for Windows and other computer-related audit techniques to support our risk-based examination approach. Our examination workpapers and methods have received high scores during the NAIC Accreditation review process.
NOVO has thorough knowledge of the NAIC Accounting Practices and Procedures Manual, Purposes and Procedures Manual of the Securities Valuation Office (SVO), NAIC Market Conduct Examiners Handbook, Annual Statement Instructions and your state laws and regulations.