A Commitment to Specialization

The insurance industry is unique and demands a specialized focus from the professionals who serve it. The underlying economics of the industry involve receipt of funds today in the form of premiums and an obligation to disburse funds over a long period of time in the future. The types of assets that best match the liabilities assumed by insurers and the measurement of those liabilities are particularly complex.

The insurance industry is heavily regulated, including restrictions on the types of assets that can be acquired, the manner in which a company conducts business with its policyholders, the prices that it charges for its product and the specific accounting principles that are required to provide regulators and other users with appropriate financial measurements.

The insurance industry has been a long-standing focus of Veris, and prior to that by those Veris executives who were affiliated with Johnson Lambert & Co. Our professionals have served a leadership role in the development of the industry’s technical accounting and financial measurement principles. We have also been heavily involved in a variety of regulatory issues, primarily concerning evaluation of regulatory accounting and the measurement of solvency in connection with insurance companies that failed. Our expertise has been sought by regulators, outside counsel and other interested parties in assessing the nature, causes and effects of many of the largest insurance insolvencies experienced in the United States.