Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance

Findings On Market Conduct Exams

Your article was successfully shared with the contacts you provided.

Findings of a market conduct survey developed by PricewaterhouseCoopers were part of a discussion at the summer meeting of the National Conference of Insurance Legislators earlier this month.

The survey found that:

–13 states use contract examiners to perform market conduct exams.

–The average number of contract examiners used is 4, but one chief examiner reported using 44 contract examiners.

–Approximately 25% of state insurance departments charge time related to staff members’ on-the-job training to insurers.

–The majority of market conduct exams are targeted exams.

–Approximately 25% of departments have staff or others pose as consumers to assess insurers’ market practices.

–Twenty-nine percent of chief examiners and 27% of examiners-in-charge say they never share the work plan or time budget with insurers.

–Insurers say the work plan is not shared 42% of the time and the time budget is not shared 67% of the time.

Reproduced from National Underwriter Life & Health/Financial Services Edition, August 6, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.

Copyright 2001 by The National Underwriter Company. All rights reserved. Contact Webmaster


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.