Financial Analysis Services
The Financial Analysis team plays a foundational role in the ongoing regulatory surveillance of insurers, ensuring that financial solvency, governance, and risk management practices align with state laws and NAIC accreditation standards. Through detailed analysis of statutory filings and risk-focused assessments, the team supports insurance departments in maintaining a proactive and compliant supervisory framework.
Core Regulatory Filing Reviews
Routine Filing Analysis:
- Annual and Quarterly Statutory Financial Statements
- Actuarial Opinions and Actuarial Memoranda
- Management’s Discussion & Analysis (MD&A)
- CPA-Audited Financial Reports
- Holding Company filings, including:
- Corporate Governance Annual Disclosures (CGAD)
- Forms B, C, and F
- Own Risk and Solvency Assessment (ORSA) reports
Regulatory Purpose: These reviews support solvency monitoring, risk identification, and compliance with NAIC’s Financial Analysis Handbook and accreditation standards.
Risk-Focused Surveillance & Supervisory Planning
NAIC Framework Alignment:
- Utilizes the NAIC’s Risk-Focused Analysis Process and Insurer and Group Profile Summaries (IGPS) to assess enterprise risk and guide supervisory planning.
- Develops and maintains insurer-specific supervisory plans based on evolving risk profiles and financial trends.
Surveillance Activities Include:
- Trend analysis and ratio testing
- Risk categorization and prioritization
- Identification of red flags and triggers for examination
Transaction & Licensing Review
Filing Support:
- Reviews Uniform Certificate of Authority Applications (UCAA)
- Evaluates Form A (acquisition), Form A exemptions, and Form D (affiliate transactions)
Regulatory Impact: Ensures that corporate transactions and licensing activities comply with holding company statutes and do not pose undue risk to policyholders or markets.
Multidisciplinary Expertise & Support
Specialist Integration:
- Access to actuarial, investment, IT, and reinsurance experts to support complex or high-risk reviews.
Training & Peer Review:
- Offers customized training and peer review services to support staff development and enhance regulatory capacity within departments of insurance.
Regulatory Experience & Accreditation Alignment
Team Composition:
- Comprised primarily of former state insurance regulators with deep operational knowledge of insurance department oversight.
NAIC Accreditation Support:
- Fully versed in the NAIC’s accreditation program, ensuring that all analysis activities align with national standards and best practices.
The Financial Analysis team is a cornerstone of regulatory compliance, providing the analytical depth and procedural rigor necessary to monitor insurer solvency, assess enterprise risk, and support informed regulatory decision-making. Their work ensures that insurance departments maintain a strong, risk-based oversight framework that protects consumers and promotes market stability.
Team Leadership
TESTIMONIALS
What our team says about us
Cynthia M. Fitzgerald, AIRC, ACS, AIAA, CICSR, CFE(Fraud), CIE, MCM, PHAM, ITP, CCP
Director
Working at ER has allowed me to develop my leadership skills to elevate my team in the Health Consulting Services space. Consistent and meaningful engagement with executive leadership at ER is incredibly supportive and collaborative. At ER, we foster a creative work environment where everyone feels valued and heard. ER leadership is committed to professional development and work life balance. I enjoy the opportunity to lead a strong team with vision and purpose as we support state and federal regulators with dynamic and creative solutions. One of the attributes I like most about working at ER is the opportunity to work closely with other leaders in other areas of insurance regulation. This opportunity is only possible when leaders feel trusted, supported and equipped with the tools necessary to be successful. At ER, we take care of our clients, our team and each other as we deliver on our mission.
Craig Leonard, CIE, CPCU, CCP, FLMI, ARC, AIAF, ARM, MCM
Senior Director Market Conduct
Working at ER has been an incredible experience that allows me to lean into my strongest skills as a thought leader who is always looking to raise the bar and find better ways to improve market regulation processes. ER’s commitment to quality, efficiency, and first-rate representation creates an environment where innovation thrives, and continuous improvement is the standard. Our firm’s streamlined structure ensures prompt attention to clients at all levels, enabling me to partner with them in meaningful ways and consistently exceed their expectations. In my 34 years being involved in market regulation, I have never worked with a more knowledgeable, dedicated team. With deep knowledge and dedication to the NAIC’s Market Regulation Handbook, combined with our ‘out-of-the-box’ thinking, we identify critical findings often overlooked by others. I take immense pride in the work we do and the value we provide to our clients every day.
Mark Ossi, CPA, CFE, AMCM, CFE (Fraud)
Director Financial Analysis
In my previous position as a state regulator, ER was one of our trusted contracting firms. I felt like they were a strategic partner in the Department’s insurance regulatory oversight and was happy to have them be part of our team for the seventeen years I was employed at the Georgia Department. In 2019, I joined the ER Team and have been even more impressed with ER’s professionalism, culture and commitment to assisting our client’s mission of regulatory oversight of the insurance industry with the goal of safeguarding policyholders.
We'd love to hear from you! Share what services you are interested in and how we can work together to achieve your goals.
We value your perspective. Share your thoughts, suggestions, or experiences with our team anytime at feedback@examresources.net.
CORPORATE HEADQUARTERS
20 10th Street NW, Suite 803
Atlanta, GA 30309-6197
Office: 404.816.6188
Fax: 404.816.6197
UTAH OFFICE
10619 S. Jordan Gateway, Suite 335
South Jordan, UT 84095
Office: 801.562.5748
VIRGINIA OFFICE
145 N. Main Street
Stuart, VA 24171
Office: 276.694.3806
Fax: 404.816.6197