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.

Featuring: Dominic Serratore, Westmont Associates, Inc.
Lee Davidson, Sr. Vice President, Berkley Accident and Health

Domenic Serratore has worked in the insurance industry for 30 years with a concentration in compliance during the last 18 years. Prior to joining Westmont, Domenic served as the Global Chief Compliance Officer for Ironshore where he managed corporate compliance and regulatory requirements on a global basis. Prior to his tenure at Ironshore, Domenic was Director of Internal Controls at SunLife Financial where his responsibilities included Sarbanes-Oxley review, processing and testing. He also held the position of Compliance Director at Lexington Insurance Company where Domenic was responsible for excess and surplus lines compliance.

Domenic started his career in Australia where he worked in claims as well as in compliance and controls with National Roads & Motorists Association, a personal lines insurance carrier. He holds a B.Bus of Business with a concentration in accounting from the Petersham College of Technical & Further Education (TAFE), NSW, Australia, a Certified Practicing Accountant (CPA) designation in Australia and an MBA with a concentration in Finance from Suffolk University in Boston, Massachusetts.

Lee D. Davidson joined Berkley Accident and Health in 2010 and is currently the Senior Vice President, Traditional Stop Loss.  At Berkley, Lee has responsibility for the P&L of the Traditional Stop Loss segment which includes Sales, Underwriting, Account Servicing, and Claims.  Lee has more than 35 years of insurance industry experience in a variety of product lines and roles within an insurance company.  Prior to joining Berkley, Lee was Vice President and Chief Compliance Office for the Hanover Insurance Group.  Lee has also served in various roles within the AICP including National President.