In the Insurance Department, this class is accountable for independently performing complex tasks related to the review of insurance policy forms and rates, investigation and mediation of consumer complaints or examination of insurance company records and market and/or business practices or analysis of financial statements and related records.
GUIDELINES FOR CLASS USE:
This is the advanced working level/working lead level and is distinguished from the working level by principal responsibility for the independent conduct of difficult and complex market conduct examinations, investigation of consumer complaints or policy and rate review work.
Works under the limited supervision of an Insurance Principal Examiner or other employee of higher grade.
May lead other Insurance Examiners and/or other staff as assigned.
EXAMPLES OF DUTIES:
Performs complex related duties involving review of insurance company policy and rate filings, examination of insurance companies' market conduct and/or business practices or investigation and mediation of consumer complaints for compliance with relevant statutes and regulations; examine all related types of insurance policy forms based upon assigned functional area for new and unusual products; may conduct studies of cost, content and availability of various lines of insurance; may independently conduct investigation of complaints against insurance companies including complicated cases and issues; may lead or independently conduct market examinations of insurance companies for compliance with relevant state statutes and guidelines including rates charged and claims practices; may assist in the training of lower level examiners; prepares reports of examinations and/or investigations; assists in the preparation of material for criminal and/or administrative cases; may review loss reserve methodology including testing of underlying data and examining the adequacy of an insurer's loss reserve; participates in the drafting of regulations and bulletins; performs related duties as required.
MINIMUM QUALIFICATIONS REQUIRED KNOWLEDGE, SKILL AND ABILITY:
Considerable knowledge of and ability to interpret insurance licensee law, regulations and guidelines; considerable knowledge of accounting and auditing principles and practices; considerable knowledge of business practices and operational procedures of insurance licensees; considerable knowledge of policy contracts and forms; knowledge of methods and procedures for conducting investigations and examinations; knowledge of and ability to interpret and apply insurance statutes, regulations and bulletins; knowledge of insurance rates and rating procedures; some knowledge of contract and property law; considerable interpersonal skills; considerable oral and written communication skills; ability to calculate complex mathematical formulas; ability to utilize computer software; some supervisory ability.
EXPERIENCE AND TRAINING:
Seven (7) years of experience in one or more of the following areas: claims, claims adjusting, sales, underwriting, contract development, actuarial work or agency services within the insurance industry OR governmental regulation of the insurance industry OR governmental examination of financial condition of insurance companies.
One (1) year of the General Experience must have been in a professional capacity. Professional capacity will be interpreted as work requiring the exercise of independent analysis and judgment in the application of professional principles and practices of underwriting, actuarial work or product development in the insurance industry or of government regulation of insurance policy forms and/or rates.
For State Employees, this is interpreted at the level of Insurance Examiner or Insurance Examiner (Examination and Market Conduct).
College training may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
A Master's degree in insurance, business administration, economics or a closely related field may be substituted for an additional year of the General Experience.
A Certified Life Underwriter (CLU) or Certified Property and Casualty Underwriter (CPCU) designation may be substituted for an additional year of the General Experience.
Incumbents in this class may be required to travel.
Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operatorís license.
This replaces the existing specification for the class of Insurance Associate Examiner in Salary Group AR 26 approved effective October 1, 1996. (2012 SCOPE Review)