Market conduct compliance is a major regulatory issue that all insurance companies must address and take into account as they conduct business. After the 2008 financial crisis, the need for federal regulation of how insurance companies sell and distribute insurance products became apparent. Market conduct has become a key insurance regulatory focus over the past decade as regulators sought to ensure the welfare of consumers and the need to maintain public confidence in the insurance industry. Market conduct compliance near Bismarck, North Dakota is just as important as it is for the rest of the country so insurance companies large and small are encouraged to seek the assistance of professional market conduct compliance consultants such as Lou Penn and Associates.Â
Lou Penn and Associates are highly-experienced insurance industry consultants with a comprehensive suite of market conduct compliance solutions that provide insurance companies with:
- knowledge of what state market conduct examiners focus on
- a way to access violations and plan a comprehensive audit process
- existing resources that can be used to organize compliance priorities, saving time and money
- educational tools to teach your staff about market conduct compliance methods and procedures
What sets Lou Penn and Associates apart from other regulatory compliance consultants is our proprietary Market Conduct Auditor which enhances existing compliance activities of insurance companies by providing up-to-date market conduct compliance data that eliminates the expense of doing your own research.Â
Compliance is one of the most critical and complex elements in the financial services industry today. Understanding the numerous regulations and enforcing compliance is a key factor to organizational success. If you need help with Bismarck, North Dakota area market conduct compliance contact the compliance experts here at Lou Penn and Associates.