Independent Analysis of Reserves
Taylor & Mulder provides support to accounting firms that require independent actuarial
analyses of reserves for financial statements that include significant insurance risk, whether it is
a statement for an insurance company or a statement for a corporation that self-insures its own
risks. In this role, we provide an independent reserve analysis or assist auditors with a review of
other actuaries’ work, enabling the audit team to sign off on insurance-related liabilities.
Audit Support
Taylor & Mulder actuaries have experience as managers at the big accounting firms such as Deloitte. Responsibilities for audit assignments include audit support on reserve estimation for both US and foreign insurance companies. Our experience has generally involved the more
complex assignments. Our actuaries have performed the actuarial tasks required for foreign to
US GAAP conversion, which included changing the international reserve database and conforming the reserves to domestic standards. We are conversant with the issues of Solvency II.
Financial Audit Support
Our actuaries have supported financial audits of nearly all lines of casualty / property coverages,
including the longer tail liability lines such as hospital and physicians, surgeons, professional
liability, products liability, general liability, commercial automobile liability, environmental
liability, cyber liability, private passenger automobile, homeowners, farmowners, and workers’
compensation.
Taylor & Mulder actuaries have provided support for a wide variety of some of the more unique
and esoteric lines of business such hurricane, wildfire, earthquake, flood, libel and slander,
felonious assault, construction defect, inland marine, surety, fiduciary, crop insurance, personal
umbrella, equipment breakdown, media liability, title insurance, legal malpractice, aviation title,
strike insurance, railroad liability, FHA/HUD mortgage guaranty program, taxicab liability as
well as asbestos, environmental, and other mass tort exposures among others.
Premium and Loss Reserve Evaluation and Opinions
Our actuaries have assisted independent accounting firms in premium and loss reserve
evaluation, statutory loss reserve opinions, risk transfer, and interpretation and explanation of
insurance company actuarial analysis, including premium deficiency reserves and other actuarial elements as needed in connection with audit work or other financial analyses. We have the capacity to handle major client services of significant complexity.
Mergers and Acquisitions
Taylor & Mulder has partnered with accounting firms to participate in the evaluation of potential
merger candidates for a number of insurance companies. The evaluation of an insurer as a
merger and acquisition target involves reserve estimation as well as a projection of future
profitability and stability.
Actuarial Standards and Data Quality
Our actuaries have been responsible for actuarial standards and data quality that included setting the reserve and pricing standards for insurance company groups. Work with these large multi-line insurers involves a significant amount of reserve evaluation in both standard actuarial
methodologies, along with advanced actuarial techniques including modeling and simulation.
Financial Strength of Reinsurers and Risk Transfer Analysis
Taylor & Mulder actuaries have evaluated the financial strength of current or potential reinsurers for auditors and for insurer security committees. We have reviewed compliance of reinsurance agreements with the requirements of SSAP Chapter 62 and FAS 113 for audit clients.