Indianapolis

Noble Consulting

211 North Pennsylvania Street
Suite 2350
Indianapolis, IN 46204

About Our Insurance Regulatory Consulting Group

KSM’s insurance regulatory consulting group, Noble Consulting Services, Inc., provides financial examination and consulting services to insurance regulators throughout the United States.

Founded in 1997 to serve the State of Indiana, Noble has grown into a nationally recognized firm through the strength of its reputation and client referrals. Over the years, we’ve built a deep bench of expert professionals – including former regulators, Big Four alumni, seasoned insurance industry executives, and credentialed examiners known for their regulatory expertise. We’re committed to investing in staff development to maintain the high standards, designations, and skillsets our clients expect in a constantly evolving insurance landscape.

Noble Consulting’s office is located in the Regions Tower in the heart of downtown Indianapolis, one block from Monument Circle.

Our insurance regulatory consulting services include:

Conduct financial examinations in accordance with the NAIC risk-focused approach
Perform primary analysis of insurance companies and secondary reviews to support ongoing risk surveillance
Support a wide range of entities, including captive insurers, risk retention groups, medium-sized companies, and small single-state insurers
Expertise spans all lines of business – life, health, RRGs, property and casualty, captives, and more
Conduct ORSA reviews to support regulators in evaluating insurers’ risk management and capital adequacy frameworks

Assist insurance regulators to provide corrective action plan monitoring services, enforcement solutions, and regulatory responses for troubled companies, including receivership, conservation, rehabilitation, and liquidation support services
Served as Special Deputy Receivers to insurance commissioners during the financial crisis and currently act as Special Deputy Receivers for a major life insurance group in one of the industry’s largest liquidations

Provide regulatory and business guidance on transactions, including structuring, due diligence, license preservation, regulatory approvals, and title insurance agency joint ventures
Form A filings – analyze projected financial operations and determine whether acquisition complies with insurance holding company standards
Form D filings – analyze the reasonableness and fairness of, among other types of transactions, inter-company and affiliated reinsurance agreements
Extraordinary dividend requests – analyze proposed pro forma financial statements to determine financial soundness of insurer post-dividend

Analyze complex insurance investment portfolios, identifying high-risk areas and regulatory concerns while providing investment portfolio evaluations
With expertise in derivatives, complex asset classes, asset-liability management, and structured securities, help regulators assess financial stability and compliance

Our AIE, CIE, MCM, and AMCM-designated experts conduct full-scope and targeted market regulation examinations on a single-state or multistate basis, ensuring compliance with state-specific statutes, rules, and regulations per the NAIC Market Regulation Handbook
Conduct stand-alone and integrated financial examinations, along with operational and market regulation reviews to assess regulatory compliance and insurer operations
Offer Pharmacy Benefit Manager (PBM) compliance services including analysis and reviews
Provide Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA) compliance reviews

Provide regulatory actuarial support, including reserve testing and certification, policy form and rate filing reviews, and risk-focused financial examination support, ensuring compliance with regulatory requirements
Assist state regulators, insurers, audit firms, rehabilitators, and guaranty associations with financial analysis, Form D reviews, actuarial opinion evaluations, ORSA modeling, permitted practice requests, reserve valuation, appointed actuary services, and actuarial audits across all lines of business

AES- and CISA-certified IT specialists conduct IT general and application controls reviews per the NAIC Financial Condition Examiners Handbook, delivering cost-effective assessments and management recommendations for complex IT environments
Perform cybersecurity reviews aligned with NAIC and NIST Cybersecurity Framework standards, ensuring compliance with the NAIC Insurance Data Security Model Law and state regulations

ARA- and ARe-designated reinsurance specialists support financial examination teams with expertise in risk management and distribution, reinsurance theory, contract provisions, risk transfer determination, and insurance accounting
Assist regulators in reviewing complex reinsurance transactions and making reinsurance and commutation decisions to ensure compliance and financial soundness

Conduct comprehensive evaluations of corporate governance practices and risk oversight, drawing on the expertise of former regulators, insurance executives, examiners, and analysts
Leverage deep knowledge and experience of enterprise risk management (ERM) and ORSA to help companies navigate compliance and risk management requirements effectively
Assist insurers with ERM development, ORSA filings, financial reporting compliance, forensic accounting, and investment portfolio evaluations

Assist managed care companies with regulatory approvals, licensing, operational modifications, service area expansions, product filings, and compliance reviews for appeals and utilization review operations

Serve as expert witnesses or litigation consultants

Connect With Our Insurance Regulatory Consulting Team

There are many ways to reach us. Feel free to contact any member of our team directly, complete our contact form, send us an email, or call our Noble Consulting main phone line at 317.471.8800.

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