STATE CLASSIFICATION JOB DESCRIPTION
Salary Group B16
Class No. 2843
INSURANCE SPECIALIST III
Performs moderately complex (journey-level) insurance inspection or investigation work. Work involves auditing forms, applications, tax reports, reserve valuations, and policy submittals for completeness and compliance with laws and regulations; assigning classifications to insurance risks; investigating possible violations of the Texas Insurance Code; and monitoring and auditing the activities of insurance companies. May train others. Works under general supervision, with moderate latitude for the use of initiative and independent judgment.
EXAMPLES OF WORK PERFORMED
Audits insurance company records and reports to determine companies’ financial conditions, assists in tracing cash flows to identify accounting system abuses, and prepares summaries and recommendations as appropriate.
Conducts investigations of possible violations of the Texas Insurance Code and agency regulations; prepares reports of findings; and audits and reviews filings, rules, rates, forms, and complaints.
Conducts investigations of reported unauthorized insurance operations.
Conducts inspections of buildings, communicates with company representatives and insured parties, and makes recommendations on automatic sprinkler and fire alarm systems.
Inspects work sites for insurance risks and assists in assigning classifications to risks.
Inspects and rates commercial and public buildings and prepares reports of findings as appropriate.
Develops rates and rating plans, examines and verifies ratings and premium adjustments, reviews and analyzes policy forms, and maintains experience rating files and records.
Prepares correspondence, advises others on insurance matters, and assists in resolving insurance complaints.
Reviews and analyzes corporate documents and annual statements for compliance with laws and regulations, computes unearned premiums on policies, calculates refunds and company premiums due, collects fees, and maintains company charter files and related documents.
Recommends program improvements, problem resolutions, proposed legislation, and rule and rate revisions as appropriate.
Monitors company activities to ensure compliance with orders and regulations, and verifies payroll and loss assignments.
Serves receivership orders to organizations related to the seizure of company assets as appropriate.
May testify at hearings and serve citations or subpoenas to insurers as appropriate.
May train others.
Performs related work as assigned.
GENERAL QUALIFICATION GUIDELINES
Experience and Education
Experience in insurance work. Graduation from an accredited four-year college or university with major coursework in insurance, finance, mathematics, business administration, or accounting is generally preferred. Experience and education may be substituted for one another.
Knowledge, Skills, and Abilities
Knowledge of insurance principles and practices and of the laws and statutes regarding insurance rates and rate modification, workers’ compensation, licensing, taxation, and reserve analysis.
Skill in the operation of office equipment.
Ability to comprehend tax forms and reports, to determine compliance with regulatory rules and statutes, to conduct inspections and investigations, to prepare concise reports, to understand and apply mathematical formulas, to audit reports and forms, to communicate effectively, and to train others.