Thursday, June 25, 2009

State Auditor's Office Conducts Insurance Agency Audits

I recently met a very nice fellow named Brian who works as investigator for the State Auditor's Office.

Part of his job, in addition to investigating complaints and fraud, involves visiting insurance agencies across the state to conduct compliance audits. I was very happy to have passed my audit!

Here's the kind of things the Auditor's Office wants to know:

  • Are your insurance producer and consultant licenses posted in your office?
  • Do you have separate Trust and Operating bank accounts?
  • What kind of duties and transactions are your unlicensed staff members conducting?
  • Does anyone in your office have any questions or concerns that he can help you with?

My meeting took very little time and Brian answered all the questions I have. His goal, and that of the State Auditor's Office, is to assure that insurance transactions are processed smoothly and accurately.

If you have any questions or concerns, you can reach the State Auditor's Office/Department of Insurance at 800-332-6148 or