Insurance Sector | Financial Services

Insurance Sector

Insurance Sector

Evolving reporting requirements adds complexity to operating an insurance business. Your finance teams may struggle to keep pace with tax reporting and risk management responsibilities. Bringing in external resources could help free up much-needed bandwidth for core tasks.

Our insurance sector services team helps mitigate risks by working with your company’s finance personnel to implement a process that ensures compliance. We understand the challenges you face, and provide access to leaders with both “Big 4” and prior industry experience at leading insurance entities. Our expertise includes tax consulting, compliance, and financial reporting for the Life, Annuity, Disability, Property & Casualty, and Health Insurance industry segments.

CBIZ is uniquely positioned to be a tax-focused business partner that is with you from idea origination to implementation, while ensuring tax efficiency, quality, and timeliness in our deliverables. Our flexible approach and rate structure allows us to offer exceptional service that larger firms cannot match. CBIZ’s experience and approach, combined with our methodology focused on technology, process, and personnel, ensures that opportunities are not missed, planning is implemented accurately, and risk is mitigated. Our clients also benefit from our strategic relationships with some of the top insurance tax law firms in the country who we partner with on complex legal tax matters to ensure you receive the best thinking on novel legal issues.

Solutions for the Insurance Sector

  • Tax Compliance & Consulting: Access solutions for state, federal, and international taxation, including strategies, and tax compliance and preparation. Our skill set includes working with insurance CFCs, PFICs, and 953(d) companies.
  • Tax Co-Sourcing & Outsourcing Services: Enlist additional support to meet peak year-end needs or support for newly acquired or discontinued subsidiaries. Our team also provides interim tax leadership support for transition periods, and reviews of tax provisions and returns.
  • Tax Controversy: Use our team’s assistance to address IRS audits and other tax controversy matters. Our team members have extensive experience managing IRS exams and negotiating favorable resolutions with the Appeals Division.
  • Uncertain Tax Position (UTP) Documentation & Evaluation: Perform a closer review of UTP issues and evaluate your risk with our experienced team.
  • Internal Audit & Controls: Receive assistance with the design and documentation of your internal controls as well as internal audit services with the help of our experienced risk management team.

Gerry McCarthy

Managing Director

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    *CBIZ is a business consulting, tax and financial services provider and works closely with MHM (Mayer Hoffman McCann P.C.), an independent CPA firm providing audit, review and attest services. CBIZ and MHM are members of Kreston Global, an international network of independent accounting firms.