Analyzes, reviews, and examines insurance rates and forms to determine compliance with state and federal regulations.
Employees in this class work under limited supervision and exercise some discretion in reviewing rates.
Reviews, analyzes, and evaluates various types of insurance filings to include, but not limited to rates, contracts, policies, riders, endorsements, and other forms from insurance companies to determine compliance with state insurance laws and regulations. Studies and approves insurance forms in compliance with state laws and departmental regulations. Prepares information and evidence for public hearings and testifies at formal hearings as needed. Reviews the rate structures and rating procedures used by insurance companies and advisory/rating organizations to ensure compliance with the South Carolina insurance codes, regulations and directives, and prepares reports. Assists with technical questions regarding policy interpretations, rating procedures, and practices of insurance industry. Prepares and drafts new laws and regulations pertaining to insurance. Develops insurance educational programs and materials.
Knowledge of procedures and practices related to insurance policy analysis. Knowledge of applicable state and federal laws. Knowledge of the methods and techniques for the examination and analysis of rates, rating schedules, rules, forms, and records of insurance companies and advisory/rating organizations. Ability to perform and present statistical research. Ability to assess company claims operations and practices. Ability to communicate effectively both orally and in writing.
A bachelor's degree in insurance, business administration, economics, mathematics, or a related field and related insurance experience. Related insurance experience may substitute for the required bachelor’s degree on a year-for-year basis.