Compliance

Frank Heaps
Director, P&C Product Marketing
StoneRiver

The recent news about the AIG agreement to resolve the underreporting of workers’ compensation premiums underlines the need to have proper administration and reporting solutions in place to fulfill state filings. The multi-state investigation looked at AIG’s filings from more than a decade ago (1975 – 2006). The penalty was $100M plus an additional $46.5M in taxes and assessments for misreporting over $2B in workers’ comp premiums in Pennsylvania.

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Don Goodenow
Director, Product Management, Reinsurance & Collections
StoneRiver

My last few posts covered areas that require attention in order to comply with SOX and Model Audit Rule requirements. Here’s one more thing to think about – How do you audit system administrator or super user activities?

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Don Goodenow
Director, Product Management, Reinsurance & Collections
StoneRiver

In my last post we looked at three common services that can be found in an SOA-based processing suite. Today we’ll look at three more.

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Don Goodenow
Director, Product Management, Reinsurance & Collections
StoneRiver

In my last post I outlined common service elements that can be included in an SOA solution. Today we’ll look at Configuration, Financials and Party (name and address +) in more detail, and see how they can enable compliance with regulatory requirements.

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Don Goodenow
Director, Product Management, Reinsurance & Collections
StoneRiver

In my last post, I outlined how regulatory requirements have become more demanding of insurance carriers. Is this something we as software vendors should be concerned with? If so, what should we be doing about regulatory requirements?

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Don Goodenow
Director, Product Management, Reinsurance & Collections
StoneRiver

The world of audits, controls and compliance is not what it used to be. It changed dramatically in 2002 with the passage of Sarbanes-Oxley (SOX). It changed again for many insurers when the NAIC adopted a replacement of its Model Audit Rule (MAR), in June of 2006.

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