- A poll conducted by Baker Tilly Virchow Krause, LLP (Baker Tilly) indicates that more than 30% of insurance organizations struggle to comply with regulations that appropriately safeguard confidential and/or personally identifiable information (PII).
- During a recent educational webinar, Best practices for ORSA implementation, almost 50% of respondents indicated that their biggest challenge in implementing ORSA is defining the content to be assessed and included in the Summary Report. This is significant, as almost 60% of respondents were in the gathering information stage of their ORSA implementation.
- Baker Tilly uncovered several issues facing insurers during educational sessions presented at the recent 2014 Insurance Accounting & Systems Association (IASA) Educational Conference and Business Show. Key among these issues was the implementation of Big Data, Statement of Statutory Accounting Principles (SSAP) No. 101 and Service Organization Controls (SOC) reporting.
- Best’s Review just release a ranking of the top audit and actuarial firms in the US by loss reserves. Within the Top Audit and Actuarial Firms lists compiled by A.M. Best, Baker Tilly ranked seventh in the Top Health Audit Firms category.