INSURANCE ANALYST

State of careers Rhode Island

About The Position

GENERAL STATEMENT OF DUTIES: To assist in the review and analysis of insurance forms, contracts, and rating schedules filed by insurers or rating bureaus; and to insure compliance with the state insurance laws and regulations; and to assist insurance consumers with questions concerning insurance contracts, rates, laws or regulations; and to assist in investigation of potential violations of insurance laws and regulations by insurers or licensees; and to do related work as required. SUPERVISION RECEIVED: Works under the general supervision of a designee of the Insurance Superintendent and/or the Director of Business Regulation who reviews work through periodic conferences and reports. SUPERVISION EXERCISED: May supervise clerical positions as assigned. ILLUSTRATIVE EXAMPLES OF WORK PERFORMED: To assist in the review and analysis of form and rate filings by insurers or by rating bureaus to insure compliance with the state insurance laws and regulations. To assist in investigations of insurers and licensees to determine compliance with state laws and regulations. To correspond as assigned with appropriate representatives of insurers and licensees. To assist in the investigation of complaints from the public to ascertain whether or not there have been any violations of insurance laws or regulations. To assist in the response to inquiries from insurance consumers as to insurance laws and regulations. To assist in preparation of reports with findings, conclusions and recommendations relative to the examination and analysis of rating schedules and other investigatory activity. To assist in preparing testimony for superiors on matters within scope of work performed. To review and analyze contract and policy forms in order to insure compliance of same with state laws and regulations. To do related work as required.

Requirements

A basic knowledge of state laws and regulations governing insurance
The ability to assist in applying said laws to proposed forms and rating schedules filed by insurers or rating bureaus
The ability to assist in corresponding with insurers, licensees and/or rating bureaus
The ability to investigate complaints received from the general public and take proper action
The ability to assist in investigations and evaluate potential violations of insurance laws and regulations by insurers and licensees
The ability to assist in the preparation of written reports with conclusions and recommendations relative to the scope of work performed
Graduation from a college of recognized standing including or supplemented by successful completion of courses in insurance, law, mathematics, accounting or finance
Employment in a responsible capacity involving property and casualty or life, accident and health and/or experience in a responsible position which may lend itself to the above
Or, any combination of education and experience that shall be substantially equivalent to the above education and experience.

Nice To Haves

Candidates with Law Enforcement experience are preferred.

Responsibilities

To assist in the review and analysis of form and rate filings by insurers or by rating bureaus to insure compliance with the state insurance laws and regulations.
To assist in investigations of insurers and licensees to determine compliance with state laws and regulations.
To correspond as assigned with appropriate representatives of insurers and licensees.
To assist in the investigation of complaints from the public to ascertain whether or not there have been any violations of insurance laws or regulations.
To assist in the response to inquiries from insurance consumers as to insurance laws and regulations.
To assist in preparation of reports with findings, conclusions and recommendations relative to the examination and analysis of rating schedules and other investigatory activity.
To assist in preparing testimony for superiors on matters within scope of work performed.
To review and analyze contract and policy forms in order to insure compliance of same with state laws and regulations.
To do related work as required.

Benefits

For information regarding the benefits available to State of Rhode Island employees, please visit the Office of Employee Benefits' website at http://www.employeebenefits.ri.gov/.
Also, be advised that a new provision in RI General Law 35-6-1 was enacted requiring direct deposit for all employees. Specific to new hires, the law requires that all employees hired after September 30, 2014 participate in direct deposit. Accordingly, any employee hired after this date will be required to participate in the direct deposit system. At the time the employee is hired, the employee shall identify a financial institution that will serve as a personal depository agency for the employee.

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