The insurance industry is both highly regulated and particularly vulnerable to market conditions including property & casualty (P/C) insurers currently facing a soft market or life & health (L/H) carriers challenged by the 2010 passage of healthcare legislation. Insurers are always looking for ways to "control the uncontrollable" and to meet increased compliance requirements, such as the National Association of Insurance Commissioners’ (NAIC) new model audit rule. Insurers must also be vigilant about finding new ways to access capital through mergers, acquisitions and alliances especially given the high rate of industry consolidation in recent years.
BDO’s Insurance practice understands the complexities of the industry and the implications for your business. Whether you’re looking to tap our extensive SEC experience in order to enter the public market, discuss the latest insurance accounting and reporting requirements from the NAIC, or comply with state regulatory agencies, BDO’s Insurance practice provides proactive guidance to our clients. We know that no two insurers are alike, and we tailor our services accordingly. We’re proud of our industry focus and experience, and our commitment to delivering the right team with relevant industry experience, both as we begin our relationship and for the long term.
As the sixth largest auditor of insurance companies and the fifth largest auditor of P/C carriers*, BDO’s knowledge of the industry is broad and deep. We know that when you need advice on complex matters, you need the right information in hours or days – not weeks or months. With deep understanding of industry issues, our Insurance industry leaders provide swift resolution of issues or questions, and direct access to our top technical professionals.
With our global network in more than 100 countries worldwide, BDO can help you identify and evaluate potential partners and growth opportunities beyond U.S. borders. Our Insurance practice leaders collaborate with BDO member firms in countries including Germany, the United Kingdom, Ireland, Sweden, the Cayman Islands and Bermuda to help our clients address their global service needs.
*Based on net premiums by A.M. Best Special Report, October 2009. A.M. Best Company is the longest running, largest and most recognized source for insurance news.