Evaluating & Managing Regulatory RiskPDF Association of Insurance Compliance Professionals (AICP) Annual Conference
On Monday, September 24 at 1:45 PM, Robert Barbarowicz and Nicole Zayac participated in the panel "Evaluating & Managing Regulatory " at the Association of Insurance Compliance Professionals (AICP) annual conference.
You have identified something that creates a compliance risk for your P&C Company - now what? The session covered information on how to best evaluate and manage regulatory risks that are unique to P&C Insurance and how to identify areas where processes, procedures, documentation (or lack thereof) and company culture can create risk and what to do once you identify the risk. Does your underwriting system allow too much deviation? Are there issues with IT programming systems to meet the filed rates? Is your record keeping spotty? Do you lack sufficient process and procedures to ensure claims compliance? Do compliance and operations view each other as adversaries?