Contact Information
New CCH Guide Helps Insurance
Providers Pass The Market Conduct Challenge
(RIVERWOODS, ILL., March 21, 2000)
Market conduct examinations (MCEs) are on the rise, and so are the number of fines and
penalties being assessed for non-compliance with insurance regulatory requirements. To
help those in the insurance business navigate the complex regulatory landscape and
minimize the risk of missteps, CCH INCORPORATED (CCH), a leading provider of financial
services and insurance law information, has introduced The Market Conduct
Examination Guide: Principles in Managing Market Conduct Examinations. (309
pages, $239. To order call 1-800-248-3248, or order online at http://business.cch.com/insurance.)
The valuable, step-by-step Guide from CCH covers
everything professionals need to know and do to "pass" a market conduct
examination, as well as minimize the high cost of noncompliance by avoiding sanctions and
keeping consumer confidence in their organization strong.
"Professionals in the insurance business today are
challenged by increasingly complex regulatory requirements and intense scrutiny from
enforcement authorities. The Market Conduct Examination Guide is a single-source
reference that offers clear, authoritative and practical guidance to help professionals
protect their organizations reputation and bottom line," noted CCH Banking and
Finance Group marketing manager Linda Lev.
When Regulators Come Calling, Will Your Market Conduct
Pass the Test?
More and more, market conduct examinations are being used
by state insurance regulators to ensure compliance with state requirements governing the
fair treatment of consumers with respect to marketing, licensing, rates, underwriting,
claims and competitive trade practices. And, regardless of an organizations track
record, any number of considerations can lead to being selected for a market conduct
examination.
Whatever the reason, however, notice of an impending MCE
doesnt have to be bad news. With the expert insight and guidance of The Market
Conduct Examination Guide: Principles in Managing Market Conduct Examinations,
organizations can successfully manage the processand contain the high costsof
an examination.
Expert Insight, Practical Guidance
Providing both tactical and strategic guidance, this
authoritative, loose-leaf handbook provides techniques, protocols and procedures that can
be used immediately to prepare for, structure and survive a market conduct examination.
The comprehensive Guide takes you step-by-step
through everything from receipt of an MCE notification letter to the process of responding
to examiner inquiries, and from responding to a preliminary MCE report to seeking judicial
review of final agency action.
The Market Conduct Examination Guide: Principles in
Managing Market Conduct Examinations also delivers effective strategies to help:
- Minimize exposure, manage the examination process and
anticipate future trends in market conduct regulation
- Reduce the regulatory costs of the examination
processand disruption to your business
- Mitigate potential fines, penalties, bad publicity and loss
of competitive advantage associated with critical market conduction examination reports
- Uncover and eliminate "red flags"practices
that may give rise to regulatory scrutiny
- Eliminate the possibility of third-party litigation
- Obtain a clean report of examination
- Implement a market conduct compliance program based on
examination standards created by the National Association of Insurance Commissioners
To help ensure compliance in every jurisdiction, the Guide
features a compendium of statutory and regulatory authority, case law and other
informative material on a state-by-state basis.
Face Challenging Situations with Confidence
Taking swift action in the event of an unfavorable conduct
report can dramatically reduce potential damage to your organization. The Market
Conduct Examination Guide provides specific advice for handling a variety of
challenges effectively, including how to respond to market conduct criticisms in an
informed manner, protect sensitive information, remedy problems during the course of an
examination and avoid mandated self-review or audit of prior conduct or prior business
practices. The helpful Guide also covers how to conduct market self-assessments to
document positive changes in business practices and create procedures to effectively
self-police future behavior.
"Given the high price of non-compliance, no
organization should undergo the intense regulatory inquiry of a market conduct examination
without adequate preparation," said Lev. "With The Market Conduct Examination
Guide, professionals can help their organizations do everything they can to ensure a
favorable report."
About the Author
Alan J. Schmitz, JD, is a nationally acknowledged expert on
insurance regulatory, transactional and administrative matters, whose expertise has earned
him the prestigious "AV" rating from Martindale-Hubble. A member of the ABA Tort
and Insurance Practice Section, Mr. Schmitz serves on the Committees for Excess, Surplus
Lines, Reinsurance, and for Public Regulation of Insurance Law. He also is a member of the
Federation of Regulatory Counsel. He is a partner at Shughart Thomson & Kilroy, P.C.,
which represents a broad spectrum of insurance carriers.
Pricing and Availability
To order or for more information on The Market Conduct
Examination Guide: Principles in Managing Market Conduct Examinations, call
1-800-248-3248 or visit the CCH Business and Finance Group web site online at http://business.cch.com. The
309-page Guide is $239, plus applicable shipping, handling and tax.
About CCH INCORPORATED
CCH INCORPORATED, headquartered in Riverwoods, Ill., was
founded in 1913 and has served four generations of business professionals and their
clients. The company produces more than 700 electronic and print products for the tax,
legal, securities, insurance, human resources, health care and small business markets. CCH
is a wholly owned subsidiary of Wolters Kluwer U.S. The CCH web site can be accessed at www.cch.com. The CCH Business and Finance web
site can be accessed at http://business.cch.com.
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EDITORS NOTE: For members of the press, a
complimentary review copy of The Market Conduct Examination Guide: Principles in
Managing Market Conduct Examinations is available by contacting Leslie Bonacum at
847-267-7153 or bonacuml@cch.com.
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