CCH INSURANCE SERVICES Announces Exclusive Market Conduct Exam Module for Life Insurers

Now, Insurers Can Audit Business Practices, Plan and Respond To Market Conduct Exam Activity, While Better Managing Risk

(Acton, MA., January 12, 2004) – CCH INSURANCE SERVICES, the nation’s leading provider of information solutions for insurance compliance announced today that Life Insurance Market Conduct Exam information is now available on the NILS INSource compliance research platform via a new module: Market Conduct Exam Module for Life.

"The industry is moving towards a more efficient regulatory risk assessment framework, and the Market Conduct Exam is increasingly becoming more targeted, with stiffer fines and penalties," said Product Manager Kathy Donovan, J.D. "But that's only part of the story. Firms not only have to deal with administrative issues, fines and proceedings in connection with Exams, but many have also been exposed to: negative publicity, class action litigation, loss of market share or competitive advantage and a decrease in overall business value."

"When you add in the time and effort of your staff, pre- and post-exam, the overall costs of an exam can be staggering - even if the final report is problem-free. The information in this module is essential for conducting more effective compliance risk management," Donovan said.

To help overcome these challenges, CCH INSURANCE SERVICES, the publisher of NILS INSource and ComplianceWare, has developed another unique compliance tool. The Market Conduct Exam Module for Life is the industry’s only market conduct focused research tool that is now part of the NILS INSource product. This new component will help users identify the exam hot spots and better prepare your organization for the next exam.

The information in Market Conduct Exam Module for Life, as in NILS INSource, has been read, analyzed and categorized so that users can quickly and easily determine what the Examiners have focused on during the past 2 years and the severity of violations. As a NILS INSource subscriber, you can easily toggle between Examination criticisms and the full citation text, to better understand the context of the violation.

With this information, you are well prepared to test your own policies and procedures before the examiners arrive. What's more, subscribers to the Property and Casualty modules find that it is an excellent tool for internal auditors to perform self-testing or mock exam exercises.

For Additional Information

For more information or to request pricing information or a demonstration, please visit the CCH INSURANCE SERVICES web site at www.insurance.cch.com, email NILSINSource@CCH.com or call 800-481-1522.

About CCH INSURANCE SERVICES

CCH INSURANCE SERVICES is the insurance industry’s leading provider of compliance tools, research, analysis and forms. CCH INSURANCE SERVICES was formed by the April 2003 merger of Uniform Information Services, Inc. and NILS Publishing. Together, Uniform and NILS bring more than 140 years of compliance related expertise to the insurance industry.

To learn more about CCH INSURANCE SERVICES, visit www.insurance.cch.com or call 800-481-1522. CCH INSURANCE SERVICES, CT Insurance Services, Bankers Systems, Incorporated, CCH financial research products, CCH Wall Street and CCH GainsKeeper comprise the Wolters Kluwer Financial Services unit.

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