Tuesday, January 21, 2020  |
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NOVO provides services to various insurance regulatory agencies in virtually all areas of insurance regulation. Services include financial examinations, market conduct examinations and information systems reviews. NOVO’s risk and compliance services include:

  •  Risk Focused Examinations – Corporate Governance, Interviewing and Matrix design
  •  Information systems Reviews – Exhibit C Reviews
  •  Cyber Security Compliance Reviews
  •  Market Conduct Examinations – Comprehensive and Limited Scope
  •  Reinsurance Services – Evaluation of complex treaties
  •  Investment Services – Analysis of structured finance and Public Finance Portfolios
  • ·Expert Witness – Testimony in Legal Actions
  •  Forensic Accounting and Other Investigations
  •  Actuarial Services
  •  Receiverships, Rehabilitation and Liquidation
  •  Premium Tax Audits

Insurance companies are facing added pressures due to increasing requirements for regulatory oversight and enhanced risk-based controls, and stronger assurances that criminal activities can be identified and reported. Insurance companies must take a more comprehensive approach to risk management, financial reporting and corporate governance to meet these challenges. Current processes and systems will need to be reviewed and enhanced, and greater reliance placed on integrated models that will encompass regulatory and risk compliance.