We act as auditors to a number of specialist insurance companies and as consultants to many more majors. We often find that when businesses are under severe pressure due either to external or internal factors, they often suffer a resource shortage which means that, without help, something important has to go on the back burner. We are able to assist by offering well trained staff with insurance knowledge to supplement internal teams. We also provide resources at manager and partner level to co-ordinate projects on behalf of internal management.
Internal audit and Sarbanes Oxley
A multinational insurance company needed some additional help with testing for Internal audit and for documentation and testing for Sarbanes Oxley. We were able to provide additional resource to back up the internal team. Timing was phased to monthly blocks and in line with the demands of quarterly sign-off. They found our assistance invaluable as our expert staff were able to hit the ground running.
Binding authority and coverholder reviews
Several London based insurers have needed experts to review their binderholders. We were able to provide expert staff backed up by managers and partners. We provided a different perspective, for instance including more information on the accounting and systems used by the coverholders as well as their compliance environment.
A multinational insurance group with their headquarters in the United States required help to enable them to assess whether claims originating from their London insurance market operations were valid recoveries under the policies they had written. We were able to review claims arising from the London market and advise on their recoverability.