Mr. Bingham, assisted by the Glynloen Insurance Consulting team, fully enjoy all aspects of regulatory consulting. Based upon Rick’s experience working for and on behalf of many Departments of Insurance GIC possesses unique skills and capacities for dealing with market conduct challenges, mock examinations and the development and propagation of new processes.

The following are representative samples of GIC’S engagements:

• Retained by a Property and Casualty carrier to assist in defending a multi-state Market Conduct Examination in which the client was accused of having violated rules and regulations in all 50 states. The engagement lasted over 5 years and required numerous appearances before the NAIC’s Market Actions Working Group (MAWG), hearings at State Departments of Insurance and on-site dealings with state Market Conduct Examiners. Other duties included writing a Corrective Action Plan (CAP) and a Regulatory Settlement Agreement (RSA). Mr. Bingham also designed and directed a mock examination based upon the tests prescribed in the NAIC’s Market Regulation Handbook.
• Engaged by the Illinois Department of Insurance to perform a targeted Market Conduct examination of an Illinois domiciled reinsurer. Subject matter of the investigation and analyses was the ceding commission structure, other operating expense budget, price and rating program including questions of capacity and surplus requirements, and provisions of the subject company’s reinsurance agreements. The project was performed pursuant to an Examination Warrant signed by the Director of Insurance and resulted in a Final Report of Examination.
• Retained by a Property and Casualty carrier to assist in responding to a Department of Justice subpoena seeking data, records and responses to interrogatories
• Designed and conducted mock market conduct exams for multiple Accident and Health and Property and Casualty Insurers