Risk-Focused Financial Examinations

Noble’s core expertise is conducting financial examinations under the NAIC risk-focused approach. We serve both lead and participating states in many of the largest coordinated examinations in the country, as well as examining captive insurers and risk retention groups and small single—state insurers, such as farm mutual companies. We have significant experience in all lines of business, including life, health, title, surety, and property and casualty insurance.

Market Conduct Examinations

We conduct full-scope and target market conduct examinations tailored to the requirements of insurance regulators. The examinations address state-specific statutes, rules, and regulations, and are conducted in accordance with the NAIC Market Regulation Handbook within the bounds of the examination warrant. We conduct these services on a stand-alone basis, as well as in connection with a comprehensive financial examination of the insurers. Our professionals have relevant designations, including AIE, CIE, MCM, and AMCM, along with meaningful experience conducting market conduct examinations.

Reinsurance Services

Our Reinsurance Specialists assist with the financial examination team’s understanding of reinsurance-related items, including risk management and distribution, reinsurance theory, contract provisions, determination of risk transfer, and insurance accounting. Regulators have relied on our reinsurance expertise to review complex reinsurance transactions. Our reinsurance specialists have the ARA and/or ARe designation, along with many years of reinsurance experience.

Regulatory Rehabilitation / Liquidation Services

Noble has a strong track record of assisting insurance regulators with troubled companies. During the financial crisis, we served as the special deputy to insurance commissioners for receivership, rehabilitation, and liquidation services for three troubled companies. Noble provides regulators with corrective action assistance, and services supporting the liquidation and rehabilitation of troubled companies. We currently serve as the Special Deputy Receiver for a major life insurance group in one of the industry’s largest troubled situations.

Investment Review and Analysis

Our Investment Specialists have analyzed many of the more complex investment portfolios in the country, and can quickly identify high-risk areas, and other areas of concern for regulators. Our Investment Specialists have the prestigious CFA designation, and have a thorough understanding of issues with derivatives, complex asset classes, asset liability management, and structured securities in insurance company portfolios.

Information System & Cybersecurity Reviews

Our seasoned IT Specialists conduct IT General Controls reviews, as well as Application Controls procedures, in accordance with the requirements of the NAIC Handbook. Our IT Specialists have AES and CISA designations as well as other applicable professional designations. Their experience with complex IT environments enables them to produce cost-effective IT reviews and value-added management recommendations. The cybersecurity review by our IT examiners follows the guidance and standards provided by the NAIC and the NIST Framework for improving Critical Infrastructure Cybersecurity. We are familiar with the NAIC Insurance Data Security Model Law, and we have performed engagements to address compliance with the rules and regulations of numerous states.

Assessments of Corporate Governance, Enterprise Risk Management, and ORSA

Each of our full-scope examinations included obtaining a detailed understanding of corporate governance practices and risk oversight. Our depth and breadth of experience provide unique insight into corporate governance and enterprise risk management. Noble has substantial experience with ORSA from the standpoints of former regulators, former insurance company executives, and as examiners of companies subject to ORSA requirements.