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The following articles are available for your review.
 

Please contact us if you find any errors, or have any suggestions or comments. We welcome your submission of articles for inclusion. Please complete the Contact Us form or e-mail us at inquiry@firstconsulting.com.


 

What Happens to Incentive Trips Under the DOL Fiduciary Rule?
This is Part 4 of a series of articles taking a deep dive into what the annuity world will look once the Rule takes effect next April.
Written By:  Kevin W. Mechtley, J.D.
Published:  October 11, 2016, with permission from the LifeHealthPro

 

DOL 101: The fiduciary rule's impact on IMOs
This is Part 3 of a series of articles taking a deep dive into what the annuity world will look once the Rule takes effect next April.
Written By:  Kevin W. Mechtley, J.D.
Published:  July 12, 2016, with permission from the LifeHealthPro

 

DOL 101: The fiduciary rule's impact on Annuity Carriers
This is Part 2 of a series of articles taking a deep dive into what the annuity world will look once the Rule takes effect next April.
Written By:  Kevin W. Mechtley, J.D.
Published:  June 20, 2016, with permission from the LifeHealthPro

 

DOL 101: The fiduciary rule's impact on insurance-only agents
The Department of Labor’s new “Fiduciary Rule” is the most significant industry game-changing development we have seen since the tax reform to annuities in the early 1980s. This is Part 1 of a series of articles taking a deep dive into what the annuity world will look once the Rule takes effect next April.
Written By:  Kevin W. Mechtley, J.D.
Published:  May 31, 2016, with permission from the LifeHealthPro

 

10 compliance challenges annuity providers will face in 2016
As if the finalized Department of Labor fiduciary rule is not enough of a challenge for the annuities market to tackle, several other regulatory and compliance issues are still important for carriers, producers and independent marketing organizations to focus on this year.
Taken from NAFA webinar presented by Kevin W. Mechtley, J.D.
Published:  April 7, 2016, with permission from the LifeHealthPro

 

Corporate Governance - Board of Director Evaluations
The new Corporate Governance Annual Disclosure (CGAD) filing requires, among other points, a narrative documenting how well the Board of Directors performs it responsibilities and duties, and how the various Board Committees perform theirs. If your company does not already have an evaluation protocol in place, here are some essentials.
Written by: C.J. Rathbun and Carol Stern

 

What You Should Know About NAIC’s Corporate Governance Disclosure Regulation Mandate
Last summer, the NAIC adopted a Corporate Governance Annual Disclosure Model Act and supporting Model Regulation, which provides a way for insurance regulators to receive, on an annual basis, additional information on the corporate governance practices of U.S. insurers.
Interview with CJ Rathbun of First Consulting
Published: 7/17/15 issue of the American Fraternal Alliance, President’s Blog, with permission.

 

The Clock Is Ticking on Corporate Governance Reporting
In less than a year, insurers – regardless of size, premium volume or their lines of business – will have to provide regulators concise information about their corporate governance practices, including insights into their corporate governance structure, board of directors practices, management policies and areas of risk.
Interview with Carol Stern of First Consulting
Published: 6/22/15 issue of Insurance Compliance Insight, with permission.

 

Best Compliance Practices for Social Media
Social media is part of everyday life. Organizations that do not embrace social media in their marketing, do so at their peril. But it is not without its challenges. A careful analysis and strategy is needed for success.
Written By:  Jerry Wickersham
Published:  Winter 2015 issue of ConnXions, with permission from the Professional Insurance Marketing Association.

 

12 Important Factors to Consider When Developing Effective Key Risk Indicators
In working with companies over the past year to help implement their ERM frameworks and also prepare to file a report for the Own Risk & Solvency Assessment (ORSA) requirements, we gathered some expertise and knowledge about the development of key risk indicators. These 12 Factors are useful to all companies in assessing whether their risk monitoring has any gaps.
Written by: Carol Stern

 

Is Reputation Risk Your Number One Risk?
When reputation risk is the Company’s highest risk, senior management can set a tone at the top that will establish an excellent environment to advance a culture of compliance and ethics. 
Written by: Carol Stern

 

The Intersection of Risk Management and Corporate Governance
This article discusses the significant impact on all insurers from the interrelation of Own Risk Solvency and Assessment (ORSA), Enterprise Risk Management (ERM) and the recently adopted NAIC Corporate Governance Annual Disclosure Model Act (CGAD) and supporting Model Regulation.
Note, this article has also been published by CEFLI and their members can view it at cefli.org.
Written by: Carol Stern and C.J. Rathbun

 

ERM, ORSA and Corporate Governance: The Small Company Challenges
“Challenges for small companies in 2015 and beyond will require new focus on improving corporate governance structures, refining risk management governance, and ensuring that knowledgeable and qualified Board members make these decisions. The NAIC push to enact new model laws and regulations that do not exempt small companies or fraternal insurers will require some dramatic structural and procedural changes that take time and resources to implement.
Written by: Carol Stern   
Published: Winter 2015 issue of The Regulator; Insurance Regulatory Examiners Society (IRES).

 

Summary of the NAIC Summer National Meeting 2014
An overview of the Summer National Meeting is intended as a brief summary of some of the meetings, decisions and issues addressing the insurance industry during the Summer National Meeting.
Written by: Joe Bieniek

 

ORSA: Three Ways It Can Up YOUR Game
This article highlights the Own Risk Solvency and Assessment (ORSA) model and its reporting requirements. The reports help to evaluate material risks of an insurance company and its holding company structure including an Enterprise Risk Management (ERM) framework.
Written by: Carol Stern
Published: 
Spring 2014 issue of The Regulator; Insurance Regulatory Examiners Society (IRES).
December 2013, Compliance Matters, Regulatory & Legislative Interest Group Committee of the CPCU Society.

 

ERM + FSGO = CRM: A powerful combination to help keep your CEO out of jail
The article reviews how senior management involvement in an Enterprise Risk Management (ERM) program and the Federal Sentencing Guidelines for Organizations (FSGO) can combine into a holistic Compliance Risk Management (CRM) opportunity whereby the company makes strategic decisions and align capital accordingly with keeping the CEO out of jail.
Written by: Carol Stern and C.J. Rathbun
Published: Compliance & Ethics Professional, appears here with permission from the Society of Corporate Compliance & Ethics

 

ORSA: A Prospective View of Solvency
An overview of Own Risk Solvency & Assessment (ORSA) and the requirements of an Enterprise Risk Management (ERM) framework that monitors, assesses, and reports all areas of risk within the insurer to insurance departments is provided in this article. ORSA is viewed as a cultural change for both regulators and insurance companies.
Written by: Carol Stern and C.J. Rathbun
Published: LIMRA Regulatory Review Issue 2014-1a (January 2014)

 

An Update on TRIA
The Terrorism Risk Insurance Program Reauthorization Act of 2007 is set to expire on December 31, 2014. The article will provide a summary of the Terrorism Risk Insurance Act (TRIA) including concerns expressed with reauthorizing TRIA.
Written by: Joe Bieniek
Published:
Summer-Fall 2013 issue of The Regulator; Insurance Regulatory Examiners Society (IRES).
December 2013, Compliance Matters, Regulatory & Legislative Interest Group Committee of the CPCU Society.

 

Four Keys to Successful Health Exchange Filings
An element in the Patient Protection and Affordable Care Act (PPACA) was the creation of state exchanges. Policies need to provide the essential health benefits mandated by PPACA. This article covers the four key areas to make successful Plan Management and Health Insurance Oversight System (HIOS) filings.
Published: June 2013, Journal for Insurance Compliance Professionals; Association of Insurance Compliance Professionals.
Written by Sean Cox

 

Corporate Risk
“The scope of risk management extends all the way from the boardroom to the mailroom. The overall impact to the organization, though, is first addressed at the management level by the chief compliance officer (CCO). This article discusses the “next steps” for the CCO after a risk is identified, including the report, company responses due to a decision about the risk, and considerations for ongoing management of the risk.”
Written by C. J. Rathbun

 

Agent Advertising
The question of, “Who is responsible for compliance review of advertising created by independent agents?” seems to be one of those grey areas of advertising compliance. If an ad might sell one of your company products, will regulators hold you responsible? This article sheds light on what states really expect for oversight and compliance based on C. J.’s experience with agencies, insurers and regulators.
Published:
March 2013 Journal for Insurance Compliance Professionals; Association of Insurance Compliance Professionals.
Spring 2013 The Regulator; Insurance Regulatory Examiners Society.
June 2013, Compliance Matters, Regulatory & Legislative Interest Group Committee of the CPCU Society.

 

Market Conduct of Title Insurance
An overview of how market conduct examinations of title companies and agencies should be performed is presented.
Reprinted with permission from The Regulator by the Insurance Regulatory Examiners Society (IRES) Fall 2011
Written by Joe Bieniek

 

Demystifying Title Insurance
An explanation of title insurance and the various acronyms heard in the business are included.
Reprinted with permission from The Regulator by the Insurance Regulatory Examiners Society (IRES) Summer 2011
Written by Joe Bieniek
 

 

Best of Both Worlds: Combining Annuity and Long-Term Care Products
A review of the Pension Protection Act of 2006 (PPA) with combining annuity and long-term care products is reviewed.
Written by First Consulting staff

 

How Transparent Should Insurers be with Regulators?
Insurance companies are encouraged to provide information to regulators and to collaborate with regulators when the insurance company realizes it made a mistake. Reprinted with permission from The Regulator by the Insurance Regulatory Examiners Society (IRES) November 2006
Written by Joe Bieniek

 

The Cost of Regulatory Compliance
A technique to accurately quantify the costs related to compliance is presented. Reprinted with permission from The Regulator by the Insurance Regulatory Examiners Society (IRES) July 2006
Written by Joe Bieniek

 

An Insurance Fairy Tale
A Fairy Tale on how friends can help the Average Insurance Company become the Better Insurance Company. An article originally published in The Journal of the Association of Insurance Compliance Professionals (AICP) June 2008
Written by Debby Paris

 

Planning for the Worst and Hoping for the Best: How Early Compliance Intervention Can Save Money
This article indicates how experienced compliance experts can help find solutions and be particularly useful in different situations.
Written by First Consulting staff

 

Compliance is King: 3 reasons to consider a third-party review for your marketing materials
Today’s marketers are also jugglers who must educate, curate and entertain in an ever-expanding, increasingly global marketplace. It’s a tall order, and one that, in the insurance industry, comes with serious strings attached. For advisors, client-facing marketing materials are subject to close scrutiny from both state insurance departments and federal regulators. This means that every word must be weighed carefully, not only in brochures, newsletters and seminar materials, but also in social media posts and web communication.
Written by Nichole Morford

 

Change in Reserve & Nonforfeiture Interest Rate
New maximum interest rates for reserves and nonforfeiture will effect life insurers.
Written by John Palmer

 

The Pros and Cons of Outsourcing Policy Filings for an Insurance Company
An overview of the rate, rule and form filing process and the challenges a company faces in determining how to get a filing approved.
Written by Francine D. Fetyko

 

Co-Sourcing
The article indicates how the Co-Sourcing approach is flexible so it can be customized to the specific needs of each insurance company and project.
Written by First Consulting staff

 

A Refresher: Insurance Advertising Rules & Compliance
A short article highlighting some of the more important advertising rules according to the NAIC Model Rules. This article was originally published in the Winter, 2012 ConnXions publication by the Professional Insurance Marketing Association.