North American insurers are increasingly seeking the services of external or unaffiliated actuarial firms to provide actuarial opinions for annual statutory filings, according to a new report from A.M. Best Co.
The report attributed the spirit of the federal Sarbanes-Oxley Act of 2002 setting accounting oversight rules for the move by companies away from the use of internal or affiliated actuarial opinions to the use of independent actuarial firms.
In addition, the survey results show some insurers moving away from using the same firm in both auditing and actuarial functions.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
