Regulatory Expertise

Each state oversees the insurance companies domiciled there. The laws and regulations of individual states impact not only the way business is conducted by insurance companies, but also the manner in which they account for those operations.

It is imperative that professionals who serve the needs of the insurance industry be well versed in the nature and specifics of state regulation, as well as the regulatory process. Through a wide array of consulting engagements involving the evaluation of failed insurance companies, as well as our ongoing commitment to leading the development of industry accounting principles, the executives of Veris are uniquely able to meet those needs.

Veris has served regulators in California, Ohio, Pennsylvania, Kentucky, Kansas, Illinois, Rhode Island, Connecticut, Iowa and Missouri, as well as in the government of Bermuda. Our assistance to these regulators has been provided in response to many of the largest failures in US history.

Veris has frequently conducted analyses of damages that might be asserted against a variety of parties in connection with insurance company failures. That analysis inevitably involves the creation of but-for world scenarios in addition to an understanding of the actions of regulators and others specific to a particular insolvency.

True to our commitment to bring integrity and objectivity to each of our engagements, Veris has on other occasions provided consulting and expert services in the defense against assertions made by regulators. When assertions of error in financial statements are made, or when the conduct of third parties is challenged, those assertions and challenges must be evaluated by competent professionals who will call it as they see it. That impartiality defines the practice and professionals of Veris.