Business, Legal & Accounting Glossary
The representative of a state insurance department assigned to participate in the official audit and examination of the affairs of an insurance company.
An insurance examiner is a professional charged with inspecting and examining insurance companies on behalf of the state.
An insurance examiner is assigned to review various facets of compliance with state insurance codes, as well as look at various other insurance company practices. Thus common duties of an insurance examiner comprise reviewing insurance company records, operational conduct, and financial conditions. Other insurance examiner duties may include verifying reinsurance contracts, NAIC suggested guidelines, and adequacy of reserves. Another major responsibility of an insurance examiner is to confirm whether the proper treatment has been given to policyholders. An insurance examiner is responsible for any or all insurance companies conducting business within the state, including both foreign and domestic insurance providers. A typical insurance examiner must be trained in the field of accounting and often licensed by the state.
He was an insurance examiner and he did a lot of hard work on a daily basis and we were all happy for him.
You should always try to have a good insurance examiner on your side that can give you good advice when you need it.
The insurance examiner analyzed the insurance company thoroughly enough to conclude that the company was operating transparently and with good will.
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This glossary post was last updated: 5th November, 2021 | 0 Views.