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What is Compliance? – Staying out of Hot Water!

Regulatory compliance is an integral component of the insurance industry. Nearly every aspect of the industry is regulated by state or federal agencies. Everything from policy language to advertising can need review and/or approval from a regulatory authority. This podcast will give you a birds-eye view of what is regulated, and by whom, to lay the foundation for deeper discussions in the future.

Affordable Care Act

Join Sam Garro, Senior Vice President of the Compliance Department at Philadelphia Insurance Companies, as he sits down with Lou Penn to discuss the Affordable Care Act and how it can provide health insurance to those who don’t otherwise have access to a health plan. This podcast explores the purpose of the ACA, the various levels of plans that are offered as well as other key features.

You’ve Graduated: How Insurance Could be the Perfect Industry For You!

Join Will Biernat, a recent Insurance and Risk Management graduate from the University of Central Arkansas, and AICP student engagement committee member, as he sits down with Cynthia Burleson and Sean Cox to discuss the completely different paths they took into the broad field of Insurance Compliance, while utilizing many of the same strategies to help them advance their careers. Cynthia now serves as the Audit and Compliance Manager with K2 Insurance Services, LLC, while Sean serves as President at First Consulting.

Planning for a Catastrophe to Happen? Yes for Insurance Companies

When catastrophes happen, insurance companies are expected to respond quickly to assist insureds who have suffered a loss as a result of the catastrophe. Many states require that these companies have plans in place prior to the event and that these plans are filed with the state, including contact information. Join Sam Garro, Senior Vice President of the Compliance Department at Philadelphia Insurance Companies, as he sits down with James Bryant, Sr. Manager of Business Continuity Management for Tokio Marine North America Services, to discuss those requirements and how insurance companies get ready for the next catastrophe whether it is a hurricane, earthquake, flood, or any other catastrophic event.

Surplus Lines – Insurance for the Difficult to Insure

What happens to those insurance customers who have difficulty getting insurance because of their size or the nature of their business, such as a company that manufactures explosives? They may be able to find coverage in the surplus lines market. Join Sam Garro, Senior Vice President of the Compliance Department at Philadelphia Insurance Companies, as he sits down with Andrew Adams, President at River Valley Underwriters, Inc., and Nicole Zayac, counsel in Willkie Farr and Gallagher, LLP’s Corporate & Financial Services Department and a member of the Insurance Transactional and Regulatory Group, to discuss this market, how it operates, why it differs from standard insurance and describe the unique way in which it is regulated. Surplus lines is a multi-billion dollar business. Find out what it’s all about in this exciting podcast.

High Waters

Join our host, Katie Gurnett, as she sis down with Paul Huang, the Acting Associate Administrator for the Federal Insurance and Mitigation Administration (FIMA), and Brock Long, the former Administrator of the Federal Emergency Management Agency (FEMA) and Hagerty Consulting’s Executive Chairman, to discuss the role of NFIP and FEMA in flood insurance, mitigation, and financial resiliency. What is the NFIP and FEMA doing to help people when that “100 year flood” strikes? What does the future hold for the program, the agency, and for each of you?

Special Events Insurance – Coverage for Those “Special” Events

Most of us have either planned or attended a special event such as a wedding, baby shower, concert, conference, fair, etc. But did you know there is special insurance coverage for these events? Because these events are limited in time, scope and variety, there is special insurance coverage available to insure them. Join your host Sam Garro, Senior Vice President of the Compliance Department at Philadelphia Insurance Companies as he sits down with Dan Cotter, Attorney and Counselor at Howard & Howard Attorneys PLLC, who also currently serves as the AICP’s General Counsel, to discuss this type of insurance, how it is underwritten, how it has changed over the years and why it may be needed to cover these events.

Hurt at Work? We Have Something for That

Workers’ Compensation is an interesting niche of insurance related to on-the-job accidental injuries and occupational diseases for covered employees. Join host Rona Finkelstein, Senior Vice President/Chief Compliance Officer at Chesapeake Employers’ Insurance Company as she sits down with Peter Strauss, Executive Director at Montana Self Insurers Association, and Lyndsey Meninger, Esq., Director of Legal Services at Chesapeake Employers’ Insurance Company, to discuss the creation of workers’ compensation, the workers’ compensation policy, employee related benefits, as well as interesting defenses to claims and the many careers within workers’ compensation insurance.

Insuring the Entertainment Industry – Coverage “Behind the Scenes”

The entertainment industry has coverage needs that are very different than other industries. Movie sets, concerts, off-site filming locations, and entertainers all need special coverages. What are these special coverages and how do they differ from traditional insurance for homeowners and offices? Join your host Sam Garro, Senior Vice President of the Compliance Department at Philadelphia Insurance Companies as he sits down with Adam MacLeod-Roth, Senior Product Counsel at Intact Insurance Specialty Solutions, to discuss this special area of insurance and explain why the entertainment industry needs unique coverages. So, get out the popcorn and enjoy this podcast!

You’ve Graduated – Now What?

You’ve finished your studies; you have that diploma in hand and now the real work begins – finding a job! Join our host Ilana Kauffman in a conversation with Cindi Burleson and Katie Gurnett about the things you should do, have, and think about when looking for that perfect job. They’ll discuss networking, skills, internships and so much more! In fact, there is so much information, you will want to listen to this podcast more than once to take it all in, and help you be successful in your job search!

Top Secret: What You Need to Know About Privacy Laws and Regulations

Privacy issues permeate the insurance industry and the laws are changing rapidly.  Join host Dan Cotter as he sits down with Fred Karlinsky to discuss some of the privacy laws and regulations that impact the insurance industry.

Students’ Burning Questions for the Experts

We know that students have questions they are just itching to ask our ‘seasoned veterans’ and we gave them a chance! Join Joshua Lopez and Julia Berdzik, our student members, in this informative interview with a couple of our very own AICP long-time members – Katie Gurnett and Sean Cox. Listen in as they ask those questions you have been wanting answered and never had the opportunity to ask – the ones which will help guide you and give you insights into your compliance career.

The Many Faces of Insurance – Life, Annuity, Health, Property & Casualty

You’ve heard about homeowners, auto, life, annuity, and health insurance – but how are they different and more importantly what do they have in common?  Join your host Ilana Kauffman while she talks to our experts Stacy Koron and Stephen Fisher as they discuss the different aspects of insurance categories and the careers available.  As our world changes around us, so does insurance and the careers within it and the need for creativity and innovation.  Insurance is more than the usual life, home and car insurance – we are now in the world of Kidnap and Ransom insurance, Cybersecurity, pet insurance, electronic sales – and so much more!

InsurTech – It’s a Brave New World

Join your host Cheryl Davis along with our experts Matt Brasch and Terri Hitchcock as they dive into the realm of Insurtech – What is it? How Does it Work? Where does compliance fit in? Are there surprises?  Learn about this innovative and forward-thinking segment of the insurance industry and how it is building a culture of compliance in this brave new world!

Cyber Insurance – Insurance for Technology!

Cyber insurance was thought to be only for companies in the technology business. But most companies now use some form of technology as part of their business. Use credit cards in your business and store the credit card data? Run a website that allows customers to order your products from that website? Have data that could subject you to a ransomware attack? Then you may need cyber insurance. This episode will explore what cyber insurance does, who may need it, and how it is a unique form of insurance coverage.

The Insurance Industry, State and Federal Agencies Working Together

Insurance is an industry that is overseen and regulated primarily at the state level.  Each of the fifty states and the District of Columbia have insurance departments or agencies that oversee that state’s insurance business.  The states are members of the National Association of Insurance Commissioners (the “NAIC”). The NAIC has various committees and working groups that address issues of importance to the industry.  In addition, there are federal acts and laws that apply to the insurance industry, including the Office of Foreign Asset Control (“OFAC”) and the Gramm-Leach-Bliley Act (“GLB”) governing privacy.  The federal and state regulatory agencies interact with the industry on a regular basis and review and approve a variety of industry matters.  Listen to this podcast to learn more about those interrelationships and how the industry and regulators interact at NAIC meetings and in general.

There’s Insurance for my Fluffy?

Yes – there is a way to make sure your special fur-baby is covered for illnesses and accidents!  In fact, pet insurance is one of the fastest growing  segments of the insurance industry.  Learn why this is considered property and casualty, how it is marketed, the risk factors taken into account – as well as special inside information on the pets of our presenters.  Make sure to listen carefully to learn what special celebrity was the very first to have this specialized coverage!

It Takes a Team to Build an Insurance Product

Insurance products must comply with specific regulatory requirements designed to protect both the solvency of the insurer and the interests of the policyowners. To ensure that these concerns are met, a product concept goes through various stages, typically handled and overseen by a product development team. Members of such a team include members of different technical areas of expertise from throughout the company, including actuarial, marketing, underwriting, claims, investments, information technology, policyowner service, accounting, legal and compliance.

While specifics may vary by organization, the product development process generally consists of idea, generation, proof of concept, business analysis, research of both the market and laws, product design, product implementation and introduction to the market. Most insurance products must be filed with individual state insurance departments prior to introduction to the market to ensure the product is viable and meets all state requirements for the type of insurance provided.

The Who, What and Why of a Market Conduction Examination

The all-encompassing behavior of insurance companies as it relates to regulatory controls and consumers is known as market conduct. Its significance cannot be overstated. In this podcast, you will learn how insurance companies are regulated, what is the scope of a market conduct review, how reviews are performed, what is the process, what are some of the hot topics today and how can I learn more in this space.

Risk and Solvency – Internal Tools for an Insurance Company

This podcast will discuss insurance company requirements in conducting internal risk management reviews and systems for measuring, monitoring and mitigating that risk. This process is called an Own Risk and Solvency Assessment (ORSA); it assesses the adequacy of a company’s risk management and the current and prospective solvency positions under normal and severe stress scenarios. Utilizing ORSA, an insurer will analyze reasonably, foreseeable and relevant material risks (i.e., underwriting, credit, market, operational, liquidity risks, etc.) that could impact its ability to meet its obligations, and then will report those findings to regulators.

Producers – Protecting Consumers in a Compliant Way

Producers have regulatory requirements that they must adhere to. Aside from just basic licensing for the states they operate in and lines of business that they sell, they must also adhere to regulations on rebating, conflict of interest, commissions, continuing education and agency bill. This podcast will examine the requirements specific to agents and brokers and in addition, will include specific requirements when acting as a surplus lines broker.

Governance – Policies & Procedures for Insurance Companies

All companies must have a set of internal policies pursuant to which a company is controlled and directed, delegating certain functions to each of the stakeholders (board of directors, shareholders, and others). For insurance companies, there are additional layers to take into account. A governance program must include a wide variety of policies, including conflicts and ethics, insider trading policies if a public company, Sarbanes Oxley compliance, and holding company reporting obligations. This podcast will discuss some of the governance considerations for insurance companies.

Compliance in an e-Commerce World

As the world does more and more business electronically, Compliance Professionals get to be lead players in the company.  From advertising via Facebook and other social media, to taking an application online using electronic signatures all the way through cybersecurity, Compliance Professionals must guide the technical areas of the company through the maze of regulatory requirements, both on the state and federal level.   Much like guiding your team through the gauntlet in Fortnite, a Compliance Professional must help the Company avoid any missteps which could lead to complaints from customers, being shot-down by regulators and even being hacked by a bad guy.  Our podcast will discuss the laws and regulations that impact the electronic world of insurance and how Compliance Professionals play a starring role in the game.

Adjusting Claims by the Rules

Compliance within an Insurance Company’s Functional Areas How do you ensure that claims are being settled fairly and within a timely manner according to state and federal laws and regulations? Are required reports submitted to states as required? These, and more, are part of the Claims function. Learn about how the claims professional benefits from knowledge of compliance within the claims world.

Solvency – Keeping the lights on at an Insurance Company

Insurance is a heavily regulated industry, with both federal and state regulation. The speakers in this podcast will explain their roles and give practical tips on working with regulators.

Insurance Company Solvency

Unlike most companies, insurers are not able to become debtors under the United States Bankruptcy Code. Instead, they are subject to a proceeding under the supervision of the state where the insurer is domiciled. While many of the concepts are similar to bankruptcy, each state has its own insurance code to address how an insolvency or rehabilitation will proceed. Listen to this podcast to learn more about those procedures, as well as the financial solvency tools that states monitor to ensure their insurers are financially stable.

Compliance Careers – So Many Options!

Compliance within an insurance company can be thought of as a large umbrella encompassing many functions and interactions with areas within a company. In this podcast, we will explore many of the compliance functions including monitoring state laws, responding to state and federal mandates, handling consumer complaints, and submitting rate filings to state insurance department.

Insurance Advertising – A Balancing Act between Creativity and Compliance

Creative spirits live in the marketing and advertising realm, and they want to use all their powers to tell the world about their great products and what they can do for the customer. Many times, these creative spirits battle with what they affectionately call “The Sales Prevention Unit” – or the compliance area- because in the ‘real’ world, insurance advertising is regulated both on the federal and state level – not to mention what the company’s brand standards might be. It is up to the Compliance Professional to guide these creative spirits to find a way to fulfill their marketing and advertising desires while still being in compliance with the laws. This requires the Compliance Professional to be creative, resourceful and a good listener – because sometimes the creative spirits don’t really need an entire universe – maybe a single star will do. Our podcast will go over the laws and regulations which govern different products, and give you tips and ideas on how to communicate with the creative spirits and ways to guide them in their journey.

Underwriting – Deciding Who Gets What and How Much Will It Cost

The world of underwriting is highly regulated and monitored. Essential to consumer protection and compliance with the laws and regulations in all states and D.C., insurance companies perform periodic examinations of their producers, third party administrators and managing general agents to review their conformity to underwriting guidelines and state requirements, knowing the repercussions of an insurance department examination that finds non-compliance. This podcast will examine the regulations governing the underwriting of policies, the types of proactive measures taken by insurance companies to ensure compliance, and the difficulties faced by companies that fail to ensure compliance.

Up Close and Personal With AICP Leadership

Join AICP President Bri Dahl and Vice President Karen Pollitt as they discuss how they have benefited personally and professionally as members of AICP. They dive deep into their 10+ years of involvement with AICP as active members as well as leaders. Listen as they reflect on why they joined, how networking is so important in this industry, and how they have had to adapt during the pandemic.

What Can AICP Do for Me?

Matt Brasch and Rachel Galasso join Bri Dahl to discuss the importance and usefulness of the AICP job bank. Matt and Rachel detail their career paths and how they both used the job bank as a tool for career changes.