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New Probity and Transparency Expectations, Developments and Regulations Relative to the Financial Stability Ratings ® Process. Robert M. Warren, CPA, CPCU Demotech, Inc. Demotech, Inc.
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Robert M. Warren, CPA, CPCU
Demotech’s business model is to support financially stable insurers that are unrated or underrated by other services. We will not review or follow insurers once we have concluded they have mediocre financial stability.
In addition to statutory accounting, our evaluation includes GAAP and Hybrid Accounting Methodologies
Our scope of review and evaluation includes:
We do not Audit or Review from a Public Accounting Perspective, Demotech is not a Registered Public Accounting Firm.
Our Review and Evaluation Process and Procedures are Dependent on the Integrity of Management’s Information and the Quality of the Financial Information Presented in the Financial Statements and Supporting Documents.
It is Critical that Demotech Analysts Maintain a Comprehensive Understanding of Current Accounting and Financial Reporting Standards Including but not Limited to:
Demotech is Dependent on Management’s Integrity and Pursuit of Best Practices Standards in the Presentation of Financial Statements and Related Financial Reports.
Information that Triggers Further Analysis
Demotech supports the various federal, state and local legislative efforts that attempt to mandate management execute their duties and responsibilities with the utmost integrity utilizing a completely ethical and transparent approach in their financial reporting.
We do not approach our financial reviews focused on discovering erroneous information whether through acts of omission or commission by management. While it is our expectation that management executes their duties and responsibilities with the utmost integrity utilizing a completely ethical and transparent approach in their financial reporting, we also realize it is incumbent upon us to be aware that may not always be the case.