Insurance Regulatory Analyst II

Class Concept

This is supervisory and professional level work in the supervision, training and review of work of lower level analysts responsible for the review, evaluation, and approval of rate, rule, and policy form filings by insurance companies; or, analysis of premium and loss statistics for all types of insurance; or the retrospective review and evaluation of the business practices of all types of insurance companies; or, examination of insurance industry agency plants and related businesses for the purpose of ensuring compliance with statutes and rules; or, research of complex and detailed issues pertaining to laws and regulations, company operations and insurance theory.

Positions supervised often include policy rate analysts (approval of forms, policies, rates, etc.) or market examiners (on-site examination of company‘s marketing and advertising, claims payment, underwriting, and rating practices). These analysts normally specialize in either property and casualty or life and health insurance. Positions supervised may also research complex and detailed issues pertaining to laws and regulations, company operations and insurance theory (analyzing data, drafting reports, identifying industry practices and regulatory practices of other states to support management in assessing the regulatory needs of North Carolina).

Positions supervise lower level analysts and office support personnel, assigning and supervising their work and appraising their performance. Positions work under the general supervision of an Insurance Regulatory Analyst Director and work is reviewed through conferences, reports, and a general review of completed work assignments.

Recruitment Requirements

Knowledge, Skills, and Abilities

• Considerable knowledge of insurance principles and practices and department regulation.
• Considerable knowledge of mathematics, including the fundamentals of statistics.
• Considerable knowledge of insurance rate-making procedures and practices or policy contract and manual provisions.
• Ability to interpret and apply provisions of the insurance laws to rate filings or premium calculations.
• Ability to express oneself clearly and concisely in oral and written form.
• Ability to assign and review the work of lower level analysts.

Minimum Education and Experience

Bachelor's degree in business or economics or a related program from an appropriately accredited institution and four years of experience in policy and rate examinations, underwriting, claims adjusting work, or financial/marketing analysis; or an equivalent combination of training and experience.