At FLS, one of our core focuses is the insurance industry. You can outsource your quarterly and annual statement preparation and submission requirements to us and we can work with you on all the regulatory compliance support you need well into the future. Our general focus is on Medicare Advantage Plans and property and casualty insurance underwriters, but is not specifically limited to those. We generally offer the following support:

Quarterly and annual statement preparation. We recommend new clients come on board for the March 31st quarterly statement, so that we have several quarterly statements prepared before work on the annual statement begins. This is not a requirement, but has worked well for both us and our new clients.

1. Preparation of risk based capital reports
2. Preparation of risk based capital projections
3. Preparation of regulatory filings on an outsourced basis
4. Correspondence with state regulators and the NAIC, as needed
   Preparation of audited financial statements for insurers to avoid independence issues with your auditor
5. Assisting clients with the negotiation, implementation and reporting of reinsurance programs
6. External audits of property and casualty insurers
7. Preparation both Statutory and GAAP financial statements

Over numerous years working with insurance underwriters, we developed an insurance forecast model. This allows management to quickly and easily perform “what if” scenarios related to changes in premium volume, loss ratios, ceding percentages, ceding commission rates, cancellation rates, loss payment patterns and underwriting expense fluctuations. This model allows companies to seek out reinsurers and obtain favorable ceding rates and commission percentages, illustrate detailed company specific projections to potential buyers / investors, as well as determine how changes in the market will affect their bottom line, cash flow and surplus for the benefit of the board and management, on both the Statutory and GAAP bases.