Insurance Services Group

Whether you are facing challenges meeting government regulations or are searching for an auditor, WithumSmith+Brown, PC (WS+B) has industry expertise to meet your expectations. Our dedicated group remains at the pulse of the industry, deeply involved through key associations, education seminars and authorship. In addition, group members also maintain excellent relationships with the major and boutique actuarial firms to assure impartiality.

Our Insurance Services

As regulatory compliance is emerging to address new risks in the insurance industry, including market conduct and catastrophic events, WS+B’s Insurance Services Group has outstanding resources to provide your organization with the following services:

• Statutory and GAAP audits
• Financial examinations and examination preparation services
• Market conduct reviews and evaluations
• Demutualization and due diligence for sales/acquisitions
• Intermediary with state insurance departments
• Management advisory services
• Corporate governance, enterprise risk management and internal control
• IT, data security and technology risk consulting
• Business investigations and fraud
• Litigation support services
• Business valuations
• Forensic fraud engagements
• SAS-70 audits
• Internal audit outsourcing and co-sourcing
• Tax planning & compliance
• Pension & employee benefit plan audits and consulting
• Assisting clients with new lines of business and/or licensure applications
• Strategic positioning services

Our Reinsurance services

The professionals within WS+B’s Reinsurance Consulting practice have a great deal of hands-on experience in this industry. We provide expert advice to insurance companies, reinsurers, law firms and state regulatory agencies on a broad range of reinsurance matters, which include but are not limited to:

• Reinsurance contract and program reviews
• Risk transfer analysis
• Reinsurance audits (accounting, underwriting, claims, forensic and operational)
• Best practice review for reinsurance administration
• Reinsurance internal control reviews
• Arbitration and litigation support as expert witnesses and consultants
• Regulatory compliance reviews for reinsurance (e.g., SSAP Nos. 61, 62 and 75)

Our Experience in the Industry

Our insurance professionals have serviced practically every type of insurance segment in the market, including:

• Property and Casualty (Stock and Mutual)
• Health
• Reinsurers
• MGAs
• Pool and Associations
• Joint Insurance Funds
• Surety
• Title Insurer
• State Department of Insurance