Market conduct management is in many ways a risk management strategy for insurance companies seeking ways to help ensure they stay in compliance with state and federal insurance industry regulations. Insurance companies large and small seeking assistance with market conduct management for Richmond, Kentucky should contact the compliance experts here at Lou Penn and Associates for effective, cost-efficient compliance consulting to minimize and manage their market conduct compliance risk.
Lou Penn and Associates’ market conduct management program provides insurance companies with:
- A clear understanding of the inherent conduct risks associated with their business model and strategy
- A strategic planning process that takes into account the potential impact of market conduct on the customer and market
- A regular assessment of their inherent conduct risks associated with how they conduct business
There is no question that an essential component of insurance regulation is the appropriate oversight of how insurance companies distribute their products in the marketplace – it’s good for the industry as well as consumers. However, even the best-run insurance firms can unintentionally create conduct compliance risks, so it’s critical that they institute an effective, real-time Richmond, Kentucky market conduct management program. At Lou Penn and Associates we have a highly-experienced consulting team that can help you identify and correct issues before you are faced with a state exam. As part of our comprehensive market conduct management program, we can even conduct mock audits to expose any hidden risks and assist you in implementing the necessary corrective actions to ensure your firm remains in compliance.
To learn more about market conduct management for Richmond, Kentucky contact our office today.