Thomas D. Gober is a Certified Fraud Examiner with expertise in all lines of insurance and currently specializing in life insurance and captive reinsurance, including violations of Statutory Accounting Principles.
Shadow Insurance
The 2008 financial crisis highlighted the dangers of shadow banking, that is, leverage hidden in off-balance-sheet entities.Shadow InsurancePerfect For All Sizes
Over the last decade, changes in regulation led to an unprecedented expansion of life and annuity reinsurance between regulated operating companies and shadow reinsurers (i.e., less regulated off-balance-sheet entities).The Captive Triangle
Where Life Insurers’ Reserve and Capital Requirements DisappearWhere Life Insurers’ Reserve and Capital Requirements Disappear
A significant number of U.S. life insurers use captives1 (including “licensed” captives as well as special purpose vehicles and non-flagship affiliated unauthorized reinsurers) to manage what they perceive to be overly burdensome regulatory reserving and capital requirements for certain types of business.Insidious side letters SHADY BUSINESS ON THE SIDE
Undisclosed agreements – side letters – between an insurance company and a reinsurer can hide egregious and fraudulent transactions from regulators, investors, and consumers.By Thomas D. Gober, CFE, and Leslie N. Bailey, CFE
An insurance company executive faces tremen- dous pressure as Dec. 31 approaches especially because the company’s balance sheet has deteri- orated below the financial ratio red-flag alerts.NAIC Examiners Handbook Financial Condition Affiliation
Certain general procedures, many of which do not result from a SRA, should be considered on all examinations.You Can Count On Us
Certain general procedures, many of which do not result from a SRA, should be considered on all
examinations. The examination program should include a section that explains the nature and extent of
these general examination procedures.