MGU / TPA Reviews

MGU, TPA, and Insurance Company Audits can be performed to assess an MGU/TPA’s ability to successfully fulfill the requirements of the MGU/TPA’s agreement, or to ensure that an Insurance Company’s policies and procedures are administered in accordance with reinsurance agreement. On-site audits of MGU, TPA and Insurance Companies, on behalf of issuing carriers and reinsurers, are performed to ensure compliance.

  • Underwriting Guidelines
  • Banking
  • Policy Issuance
  • Premium Remittance and Collection
  • Technical Claims Handling
  • Reserving
  • Risk Taker Reporting
  • Cost Containment Strategies
  • Agency Licensing

While on-site, IR&AS conducts interviews with essential personnel within the organization. Financial procedures are evaluated to determine that the proper controls are in place to ensure check security. Policies are reviewed to confirm that the policy issued complies with what was underwritten. A review of licensing and appointment procedures is performed to confirm that they are obtained as required by the carrier. We review the administrative processes and recording of financial transactions in accordance with any agreements that are in place. The review focuses on:

  • Management and staffing experience level
  • Adequacy of staffing
  • Workflow
  • Case Management capabilities
  • Adequacy of premium collection
  • System capabilities and security
  • Claim adjudication process
  • Quality assurance programs
  • Reporting

You, our client, determine the scope of the audit. We focus on those areas in which you are most interested.