New Book from the Internal Audit Foundation Covers Auditing Property and Casualty Insurance
Even with a focus on outlining all the possible unknowns, insurance remains a complex industry with distinctive risks, controls, and fraud from those in other industries. Unlike many products, insurance companies cannot realize the true cost of their products at the time of sale, yet must rely on estimates to determine expected claim costs.
Risky Business: Principles of Property and Casualty Insurance is a “cover to coverage” must-read for auditors in the insurance industry, financial auditors, and internal audit practitioners in general. Seth A. Davis, CIA, CPA, CPCU, CFA, CISA, helps you understand the unique underwriting and claim considerations of the vast array of insurance products available to mitigate your risk.
This 160-page insurance products and policies almanac includes specific product guidance, audit program steps, and more than 30 data analytics extract ideas on how to avoid fraud and funds leakage with claims disbursements.
For more information, visit The IIA Bookstore.