Insurance companies face an abundance of costly and time consuming regulatory compliance requirements in their day to day operations. Perr&Knight’s regulatory compliance professionals can assist companies as they navigate regulatory compliance requirements either on a task by task basis or as a complete outsourcing solution. By engaging Perr&Knight, companies are able to take advantage of our industry expertise, extensive experience and our innovative, web-based tracking systems for bureau monitoring, state filings, statistical reporting and licensing.

Clients benefit from our responsiveness, attention to detail and our commitment to documentation and regular status updates. Many of our clients completely outsource their regulatory compliance responsibilities to Perr&Knight in order to benefit from a compliance staff that is scalable in size and able to quickly respond to any changes in a company’s needs.

 

State Filings

Perr&Knight’s state filings unit is the largest provider of rate, rule and form filing services in the country, preparing and submitting thousands of filings annually for all lines of business and in all jurisdictions. We maintain positive working relationships with insurance department personnel across the country, and are experts in state specific filing requirements.

Our state filings unit provides a complete, organized solution for all types of filing projects, from simple, straightforward filings such as the introduction of a single endorsement to complicated new program or rate revision filings. Furthermore, our on staff actuaries and product development professionals can ensure that rates, rules and forms are properly submitted and supported every step of the way. Perr&Knight’s state filings professionals help our clients:

  • Manage even the most complex filing projects
  • Maintain good standing with Departments of Insurance
  • Obtain instant, online access to filings and correspondence via www.StateFilings.com

 

Bureau Monitoring

Perr&Knight’s bureau monitoring service provides an efficient and cost effective way for companies to monitor, track and analyze the impact of the numerous circulars and bulletins released each day by the various rating bureaus. We perform these services for companies affiliated with the large national bureaus and individual state bureaus, and our services encompass all lines of business in all U.S. jurisdictions.

Perr&Knight’s bureau monitoring service, delivered through www.BureauMonitor.com, tracks and summarizes all bureau publications that affect your products on a state and program level, and even advises you when you need to take action. Furthermore, our state filings professionals can handle any necessary filings. Perr&Knight’s bureau monitoring service:

  • Helps you to track and analyze all bureau circulars and bulletins that affect your business
  • Advises when and what actions need to be taken in response to circulars and bulletins
  • Provides instant, online access to your circulars, bulletins and filings via www.BureauMonitor.com

 

Statistical Reporting

Strict governmental and industry oversight make insurance one of the most demanding industries wherein data must be regularly and accurately reported. Perr&Knight’s statistical reporting services blend years of statistical reporting experience, technical expertise, and data management best practices to provide a complete and unmatched property & casualty reporting solution.

We routinely handle statistical report submissions to bureaus, annual statement reconciliations, state special data calls and statistical bureau alternative analysis. Perr&Knight’s statistical reporting services:

  • Reformat transactional statistics to conform to bureau requirements
  • Edit and scrub data using bureau validation tools
  • Ensure timely and accurate statistical submissions
  • Manage and track data calls and submissions via www.Stat-Reporter.com

 

Product Design

Compliance issues, competitiveness and coverage disputes are daunting challenges for every insurer that designs policy forms and develops products. How an insurer addresses these challenges is often critical in gaining a clear advantage over the competition.

Perr&Knight’s product design & form consultants provide clear solutions to the challenges facing insurers through a wide range of services including coverage comparisons, product development, content reviews, product reviews, form filing support and regulatory tracking. Furthermore, our staff of product design consultants is experienced in all personal and commercial lines, and maintains strong working relationships with the Departments of Insurance and industry organizations. These services help our clients:

  • Ensure compliance with state insurance regulations and statutes
  • Design competitive products
  • Avoid adverse coverage litigation

 

Licensing & Appointments

Our licensing professionals service a wide range of clients, including insurance companies, insurance agencies, independent agents/brokers, third party administrators and risk purchasing groups.

Perr&Knight’s web application, www.LicenseReporter.com, allows our clients to access their license applications online, monitor approval progress, and download filed materials. Furthermore, our licensing experts help our clients with virtually all licensing related tasks, including:

  • Producer licensing
  • Producer appointments, appointment terminations and renewals
  • Company licensing
  • Risk retention group (“RRG”) & risk purchasing group (“RPG”) registration
  • Adjuster licensing