The Brown Shultz Sheridan & Fritz (BSSF) Property & Casualty Insurance Practice was ranked the 23rd largest audit firm in the U.S. on AM Best’s list of the Top Audit and Actuarial Firms – 2022 Edition, based upon the loss reserves of the property and casualty insurance clients served. According to the total number of property and casualty insurance clients served, BSSF is ranked the 14th largest audit firm in the U.S.
Our insurance practice focuses on providing various a full range of audit, tax and advisory services to insurance providers in the Mid-Atlantic region, although we do have numerous clients domiciled in other states throughout the US.
The insurance team is comprised of seasoned professionals and specialists that provide a full range of audit, tax, and advisory services to the property and casualty insurance industry.
What Types of Property & Casualty Insurance Entities Do We Serve?
- Mutual and Stock Insurance Companies
- Captive Insurance and Risk Retention Groups
- Self-Insured Groups
What Services Do We Provide for Property & Casualty Insurance Entities?
We provide a variety of accounting advisory services, business advisory services and insurance tax services to businesses in the property and casualty insurance industry.
- Assurance Services for Insurance Entities
- Statutory and GAAP Audits
- Agreed-Upon Procedures Engagement
- Tax Services for Insurance Entities
- Federal and State Income Tax Return Preparation and Filing
- Tax Planning Services
- Merger and Acquisition Planning
- State Tax Planning and Compliance
- Voluntary Compliance Programs
- Quarterly and Annual Provisions and Disclosures
- 953(d) Election Applications and Maintenance
- Uncertain Tax Position (ASC 740 – 10/FIN 48) Documentation
- Focused Advisory Services for Insurance Entities
- Statutory Annual and Quarterly Statement Preparation
- Cybersecurity Assessments (NAIC Data Security Model Law)
- Corporate Governance Annual Disclosure Consulting
- Accounting, Consulting and Financial Modeling
- Due Diligence
- Regulatory Consultation
- Financial Analysis
- Representation with:
- State Regulators
- AAM Best
- Cybersecurity Education for Board Members
- Education and Accounting Structure Assessment:
- Accounting Procedure Manual
- Advising During Transitions
- Review and Improve Accounting Filing and Documentation
- Review and Document Internal Controls and Processes:
- GAP Analysis
- Assess Risks for Significant Cycles
- Determine Control Objectives
- Develop Process Memos
- Identify Key Controls
- Speaking Engagements for Insurance Industry Groups
- Business Advisory Services
- CFO Outsourcing
- Strategic Planning
- Human Resources Consulting
- Fraud Risk Assessments
- Forensic Accounting
- Management Advisory Services
- IT Consulting
If you do not see a service that you are in need of, please contact us today and find out how we can help you!
Why Choose BSSF for Your Property & Casualty Insurance Accounting & Consulting Needs?
Our team members have extensive knowledge of the unique and complex financial demands of the industry. We have significant experience with statutory accounting principles governing the insurance industry and generally accepted accounting principles (GAAP) which are specific to the industry. Our team of insurance tax specialists is well versed in the unusual aspects of insurance taxation at the federal and state levels.
We keep abreast of current developments affecting the insurance industry by monitoring the activities of the various state Insurance Departments as well as the NAIC, AICPA and the IRS. We communicate significant new developments to our clients and are available to help them assess the impact of such developments on a company’s statutory and GAAP financial statements, financial and tax reporting or operating procedures.
BSSF also provides various management consulting services to the insurance industry. We have worked with various entities in the financial services industry providing CFO outsourcing, merger and acquisition, captive management and capital modeling, and planning services. We have also sought to give back to the industry through our work with organizations such as The Pennsylvania Association of Mutual Insurance Companies (PAMIC), providing tax and audit services along with membership on the financial management committee, and The New York Insurance Association (NYIA) where we hold membership.
