Some state insurance department staff may wear pocket protectors. Others, bullet proof vests. Insurance department staff investigators clearly have a perilous job at times.
We are not talking about actuaries breaking their pencil points over the application of Actuarial Guideline 38, principles-based reserving (PBR) implementation equations or long hours in grey-green light puzzling over reserves that have fled domiciled state balance sheets for captive insurance companies in other jurisdictions.
Department investigators of the non-forensic type are dealing with whether to wear protective gear, carry guns and respond with baton techniques or deadly force to defend themselves during interviews with the subjects of their investigations, who may possibly be violent types perpetrating insurance fraud.
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Elizabeth Festa
Elizabeth Festa is a longtime business and financial services reporter with a specialty in insurance regulatory and legislative coverage at the federal and state level. She is based in Washington, D.C.
