Auditor Support

Actuarial Support You Can Depend on

As an independent auditor, you have an in-depth understanding of professional accounting standards. But, are you fluent in the language of "actuarial"? At L&E, our team of Actuarial Experts stands ready to bolster your audit projects in a multitude of areas.

Property & Casualty Insurance

In the intricate world of property and casualty insurance, our role involves reviewing the loss and loss adjustment reserves established by the audited entity. L&E's experienced actuaries, with a solid foundation in insurance loss reserves audits, offer invaluable support in this area. We draw from our extensive experience in aiding state insurance departments with their financial examinations and estimating loss reserves for numerous insurance companies and self-insured corporations. Rest assured, our actuarial insight and support make the complex world of Property and Casualty insurance auditing a breeze.

Pensions

When it comes to pensions, we assist you in formulating an opinion on the validity of your client's determination of their contingent benefit liabilities. L&E's team of actuaries are deeply versed in FASB Statements 87, 88, 112, 132(R), and 158 - a crucial expertise in the pension audit process. Our support can be as extensive or as specific as your review scope requires, ranging from reviewing the plan actuary's methodologies and assumptions to undertaking a comprehensive replication of the valuation. Trust our pension actuarial review services to navigate through this critical area with precision and confidence.

Other Post-Retirement Benefits

L&E's team of seasoned actuaries has comprehensive experience in evaluating the liabilities associated with a range of post-retirement benefits. We extend our expertise beyond the realm of pensions to address other post-retirement provisions such as medical, dental, or vision benefits. Our services also cover post-employment benefits like salary continuation, severance, and supplemental benefits, ensuring a holistic approach towards employee benefits audit.

Our expertise aligns with the latest accounting standards – we are well-versed with the mandates of FASB ASC 715-60 as well as GASB 74 and GASB 75. This solid grounding allows us to ensure that our evaluations adhere to current accounting best practices and guidelines.

With a focus on accuracy and precision, we work to provide reliable and insightful evaluations, helping you navigate complex post-retirement benefit obligations. Our actuarial team is ready to deliver detailed assessments, offering you robust and comprehensive support during your audit processes.

Life Insurance

At L&E, our actuaries are adept at verifying that the reserves maintained by a life insurance entity are sufficiently robust to fulfill future obligations when due. We bring extensive experience and deep knowledge of a wide array of life insurance products to the table, further enriching the quality of our actuarial reviews.

Our familiarity spans across various life insurance policies, ranging from final expense/pre-need coverages that cater to end-of-life expenses, to high face amount level term insurance that provides substantial coverage for a specified period. We also handle complex policies like universal life contracts, which offer flexible premiums, adjustable death benefits, and an interest-bearing cash value component.

Leveraging our profound understanding of these diverse insurance products, we provide meticulous evaluations to assure that the reserves are adequate. Our auditors ensure that our examinations are in line with actuarial standards of practice, industry norms, and the unique contractual terms of each policy. Through our comprehensive audit support, we aim to lend credibility to your life insurance audits, enhancing their precision and reliability.

Health Insurance

At L&E, we excel at establishing comprehensive liabilities for an expansive range of accident and health (A&H) products. Our expertise extends across diverse health insurance policies such as hospital-surgical plans, managed care models, major medical insurance, short-term and long-term disability covers, Medicare supplement plans, long-term care insurance, and critical illness policies.

Our seasoned experts conduct thorough evaluations and perform independent calculations of all claim liabilities, claim reserves, and policy reserves. By leveraging our deep understanding of the actuarial principles and regulatory standards, we diligently verify that the audited entity’s records adhere to all mandatory requirements.