Noble’s core expertise is conducting financial examinations under the NAIC risk-focused approach. We serve both lead and participating states in many of the largest coordinated examinations in the country, as well as examining captive insurers and risk retention groups and small single—state insurers, such as farm mutual companies. We have significant experience in all lines of business, including life, health, title, surety, and property and casualty insurance.
We conduct full-scope and target market conduct examinations tailored to the requirements of insurance regulators. The examinations address state-specific statutes, rules, and regulations, and are conducted in accordance with the NAIC Market Regulation Handbook within the bounds of the examination warrant. We conduct these services on a stand-alone basis, as well as in connection with a comprehensive financial examination of the insurers. Our professionals have relevant designations, including AIE, CIE, MCM, and AMCM, along with meaningful experience conducting market conduct examinations.
Our Reinsurance Specialists assist with the financial examination team’s understanding of reinsurance-related items, including risk management and distribution, reinsurance theory, contract provisions, determination of risk transfer, and insurance accounting. Regulators have relied on our reinsurance expertise to review complex reinsurance transactions. Our reinsurance specialists have the ARA and/or ARe designation, along with many years of reinsurance experience.
Noble has a strong track record of assisting insurance regulators with troubled companies. During the financial crisis, we served as the special deputy to insurance commissioners for receivership, rehabilitation, and liquidation services for three troubled companies. Noble provides regulators with corrective action assistance, and services supporting the liquidation and rehabilitation of troubled companies. We currently serve as the Special Deputy Receiver for a major life insurance group in one of the industry’s largest troubled situations.
Our Investment Specialists have analyzed many of the more complex investment portfolios in the country, and can quickly identify high-risk areas, and other areas of concern for regulators. Our Investment Specialists have the prestigious CFA designation, and have a thorough understanding of issues with derivatives, complex asset classes, asset liability management, and structured securities in insurance company portfolios.
Our seasoned IT Specialists conduct IT General Controls reviews, as well as Application Controls procedures, in accordance with the requirements of the NAIC Handbook. Our IT Specialists have AES and CISA designations as well as other applicable professional designations. Their experience with complex IT environments enables them to produce cost-effective IT reviews and value-added management recommendations. The cybersecurity review by our IT examiners follows the guidance and standards provided by the NAIC and the NIST Framework for improving Critical Infrastructure Cybersecurity. We are familiar with the NAIC Insurance Data Security Model Law, and we have performed engagements to address compliance with the rules and regulations of numerous states.
Each of our full-scope examinations included obtaining a detailed understanding of corporate governance practices and risk oversight. Our depth and breadth of experience provide unique insight into corporate governance and enterprise risk management. Noble has substantial experience with ORSA from the standpoints of former regulators, former insurance company executives, and as examiners of companies subject to ORSA requirements.
When our founder, Randy Lamberjack, was considering a name for his new consulting firm he wanted to convey his guiding principles of integrity, excellence, and the highest possible level of professional services. He chose the name Noble Consulting to capture those qualities.
While working with Randy and Noble since its inception, I have observed how these qualities were placed above all other considerations. I have seen, since joining Noble, how Randy’s guiding principles are still the foundation of our mission today. We seek to define the highest standards of professionalism, with every project for every client.
In both our personal and business lives, we are no better than our reputation. Whatever we say, whatever we do – our actions make us who we are. Doing the right thing and avoiding, even the appearance of, doing the wrong thing are the standards that I try to live by.
This is why Noble’s Guiding Principle of Ethics resonates so strongly with me.
A vital element of our Guiding Principle of Commitment is our focus on others. Our “commitment to serve others with excellence” is a powerful statement that means we will do our best in all endeavors.
This leads to our long-term sustained success, both personally and as an organization.
In an industry filled with competent firms, I look for innovative ways to make Noble stand apart. I challenge myself, and those I work with, to deliver top quality service with standards above the expectations of others in our industry. I enjoy working with a firm viewed as the industry leader, consistently delivering the best service and establishing leading practices, versus just another one in the pack.
Noble’s Guiding Principle of Quality is one we all continue to strive for, and our clients expect.
The atmosphere of teamwork throughout our organization is a major reason I enjoy being a part of Noble. Over the years, I have always been able to find a colleague to bounce ideas off or provide insights to an issue or unusual situation. Noble has such a strong cross section of skills and personalities.
The collaboration with others is a strength of our organization that I find both personally and professionally rewarding.
I have worked with or for Noble Consulting for the past 20 years. We constantly examine our own processes with the goal of better serving our clients. Noble has consistently been among the first to adopt and leverage technology initiatives in our industry and among the first to strengthen our own IT security standards and measures to match those of our clients. The desire to innovate and improve in all areas of our business will help ensure that Noble Consulting thrives for another 20 years.