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Market Conduct Reviews for Insurance Industry Oversight


As internal control compliance continues to be a larger focus for the insurance industry and NAIC-regulated entities, it is increasingly important for insurance companies to stay well-versed in market conduct regulations. Market conduct regulations are in place to provide oversight to various aspects of an insurance company, including financial oversight. These regulations focus on a broad range of consumer protection topics:

  • Company operations
  • Form filing
  • Complaint handling
  • Marketing and sales
  • Producer licensing
  • Policyholder services
  • Underwriting
  • Claim handling
  • Ratings

As the industry continues to evolve, so do market conduct regulations. While regulators may focus on a full market conduct or a limited conduct review, you can stay on top of regulations by conducting internal audits of these areas of focus. By diving into the various market conduct-focused topics, you can learn the following about your company:

  • Do you understand how the market conduct regulations apply to you?
  • Do you have appropriate and adequate data to support compliance to the regulations?
  • Do you have adequate internal controls and up-to-date policies and procedures in place to support compliance to the regulations?
  • Is the company supporting continuous market conduct compliance in the day-to-day operations as processes and systems change?

By incorporating these compliance reviews into your internal audit plan, you can be more self-aware of compliance efforts if or when you receive a call letter advising you that a market conduct exam has been scheduled. 

If you would like help incorporating the market conduct regulations into your internal audit plan or determining how your data supports compliance efforts, contact Amy Ribick, Advisory Partner, at or 314.983.1347.


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