Did you know that there are no exemptions for small companies or fraternal insurers under the new NAIC Corporate Governance Models?

The NAIC has made an affirmative decision not to exempt small companies or fraternal insurers from any of these new corporate governance requirements.   Here are some highlights of the changes:

  • The Board as a whole needs to possess all of what the NAIC calls “core competencies” of accounting or finance, business judgment, industry knowledge, management, leadership, vision and strategy.

  • Regulators will be looking for Corporate Governance Guidelines that document established key governance principles.

  • Regulators want to understand the frequency at which information on each critical risk area is reported to and reviewed by senior management and the Board.

First Consulting’s new Corporate Governance Tool Kit provides you with a budget-friendly solution for compliance readiness with these new requirements.

Click here for the full description of our Corporate Governance Tool Kit.

Please contact me to discuss any of these services and learn how we can assist you with these new corporate governance requirements.

To learn more about Co-Sourcing click here.

Your Company faces daily unique regulatory and compliance challenges. Don’t face them alone with only in-house staff or give-up control to cookie-cutter outsourcing.
First Consulting & Administration, Inc. is the creative answer to state insurance regulatory and compliance requirements.

Co-Sourcing with First Consulting allows compliance professionals to:

  • Maximize their efforts by delegating specific sub-parts of the total function while maintaining control of all projects.
  • Improve quality by functioning as the “reviewer” and not the “doer”.
  • Learn as the work progresses. Knowledge does not remain solely with an outside consultant, as it may when work is outsourced.
  • Resolve the in-house staffing level dilemma. With First Consulting available to assist with peak workloads, organizations do not need to choose between staffing for such situations and missing opportunities because of regulatory or compliance backlogs.

To learn more about our services click here.

Contact me for a no obligation proposal and cost estimate.

John Palmer

As the leading Advertising Compliance Consulting Firm in the insurance industry, First Consulting has compliance review staff that is ready to help your Team today or when you need us.

We offer

  • Tailored webinar training
  • Annual August advertising compliance seminar/workshop
  • Hands-on review of advertising
  • Complementary advertising regulatory email updates (beginning in January 2015)
  • Tailored research and surveys to answer information needs about advertising law, interpretation and application

Check out our services here: Advertising Compliance Services. Where can you get on the mailing list for advertising regulatory updates? Sign up here.

C. J. Rathbun

Your compliance resources are limited. It’s critical that you maximize the talents and skills of your staff. First Consulting can help you to reach your staff’s full potential. 

How much of your Analysts time is spent handling the routine functionality of form and rate filings? Wouldn’t their skills be better used elsewhere? 

Keep your Analysts analyzing and let First Consulting handle your state product filings.

Since 1969 First Consulting has been devoted to helping you meet your target implementation dates and getting your products filed on a timely basis. Co-Sourcing with First Consulting means you will always remain in control of your form and rate filing project. You will determine how and when your project will be handled. 

For more information about our filing services, or a no obligation estimate of our fees, please contact me or any First Consulting associate, or visit our Filing Services page.

Sean Cox, HIA, MHP