Huggins has the expertise to assist auditing firms with many of the tasks their clients need. Some mid-size to smaller auditing firms may either not have in-house actuaries, or prefer to use an outside consultant for reasons of independence.
The following list identifies the services most frequently requested by auditing firms. We can either evaluate the work performed by the auditee’s staff or consultant for reasonableness, or perform an independent analysis to be used by you for comparative purposes. More information can be found on the Services page.
- Audit support including evaluation of actuarial control adequacy and effectiveness
- Evaluate loss & LAE or unearned premium reserve positions annually or on an interim basis
- Issue a second opinion on another actuary’s loss & LAE reserve opinion
- Estimate loss funding levels or projected loss payments for the coming year(s)
- Estimate the portion of the total claims liability recoverable from insurance under FASB ASU 2010-24
- Estimate the retained liability under SOP 87-1
- Issue an Actuarial Summary Review Memorandum
- Review another actuary’s work product
The Huggins Advantage
Our firm’s philosophy centers on our commitment to the highest level of quality service delivered by quality people. Our long tradition of providing responsive, technical excellence to our clients’ needs through an integrated team approach requires that we focus on quality in every aspect of every engagement.