Market Regulation Intern
Ø The Market Regulation Division (MRD) is responsible for monitoring market conduct activity of domestic and foreign Property and Casualty (P&C) insurance companies, Life and Health (L&H) insurance companies, premium finance companies, health maintenance organizations (HMO), preferred provider organizations (PPO), etc. as required by North Carolina General Statute, Chapter 58. MRD monitors compliance with statutes and regulations in the following areas: policyholder treatment, sales, marketing, underwriting and rating, agent appointments and terminations, nonforfeitures, general administration, provider relations and delivery systems, utilization management, quality management, provider credentialing, delegated oversight, claims, etc.
In order to carry out these responsibilities, MRD staff perform a combination of in-house reviews of various documents submitted by the entities regulated and examination of company records and operations. As needed, examiners may travel to perform an on-site examination of an entity.
Examinations will train an intern on:
1. The types of examinations we conduct
2. The lines of business we review
3. The applicable statutes and regulations
4. The Coordinator’s Handbook
5. Policy forms and manuals
6. Examination reports (including statutory process)
Market Analysis will train an intern on a redacted, Level 1 market conduct review that would cover:
1. Operations and Management
2. Financial Ratios used by Market Analysis
3. Regulatory Actions levied
4. Examination history nationally
5. Premium volumes and percentage changes
6. Market Share
7. Loss and Expense ratios
8. Defense Costs incurred
9. Confirmed and Complete Complaint counts and indices
10. MCAS ratios
11. Final Recommendation (including if an examination should be recommended)