Accounting Firm of the Year—Winner

TaylorChandler

“TaylorChandler’s CPE reporting system has earned outstanding reviews for its efficiency and ease of use.”

What is your unique selling point for clients?

TaylorChandler is a premier service provider to the risk management industry due to our extensive experience and commitment to helping our clients succeed. This industry is made up of a variety of organisations, each with distinct requirements.

Our clients face increasingly complex issues as they strive to fulfil their mission. These challenges place intense pressures on the financial reporting function of these organisations. Our commitment and long-term affiliation with risk management organisations provides the experience you need to help make well-informed decisions for the future.

“Our clients face increasingly complex issues as they strive to fulfil their mission”

TaylorChandler provides a valuable resource for professionals working in the risk management industry to enhance operating performance. The firm delivers professional services to these organisations in accordance with Statutory Accounting Principles, US Generally Accepted Accounting Principles and other applicable requirements.

Our mission is to help our clients set new standards of excellence in their industries through passion, precision, and simplicity. TaylorChandler has a long history of dedicated service and innovation in the captive insurance industry going back nearly 20 years.

We strive to think outside of the box and to find creative business solutions for our clients. TaylorChandler takes a one-on-one approach to every situation to ensure that the service provided is tailored specifically to our clients’ needs.

What additional changes would you like to see industry adopt?

We are fortunate to operate in a domicile with which we have a strong and cohesive relationship. We have worked together with the Alabama Department of Insurance to ensure our captive insurance laws rival those of any other domicile in the country.

We continue to support changes in the captive insurance laws and work with the regulatory bodies in the industry to provide immediate solutions as they arise and to update the statute in order to provide the best possible environment for our clients and the policyholders.

Regulation has evolved a lot over the years. What changes have you implemented to maintain compliance?

Changes in the regulatory environment present a unique challenge to our industry. When you are dealing with many different domiciles across the country, it is important to be organised and to have a compliance strategy that identifies any changes in the regulatory environment before the changes take place.

At TaylorChandler, we take pride in our excellent quality control processes that enable us to stay abreast of any changes and to implement necessary changes in our business operations to achieve compliance with any domicile in which our clients operate.

TaylorChandler is the largest provider of continuing professional education (CPE) credits to captive insurance conferences in the country, serving the Captive Insurance Companies Association’s annual conference and approximately five other US domicile annual conferences. TaylorChandler’s CPE system was further developed into a web-based system that allows conference attendees to receive credits in a fast and efficient manner.

TaylorChandler’s CPE reporting system has earned outstanding reviews for its efficiency and ease of use. This system was developed in-house and has become a fully automated system of collecting, summarising, and issuing CPE credits. Response to this system has resulted in further expansion of the CPE offerings at captive insurance-related events.

How have you changed and adapted to the ‘new normal’ of working in recent months?

The COVID-19 outbreak has changed the way everyone does business, not only in our industry. We have used this pandemic to implement technology in the workplace that enables us to interface remotely and to collaborate more efficiently as a team, regardless of where we are physically located.

We feel that the technology we have implemented will provide efficiency long after the threat of the pandemic has passed, enabling us to stay up to date with our clients and their individual needs.

During the COVID-19 pandemic in the spring of 2020, TaylorChandler partnered with Iron Health, a self-funded health benefit programme, to create a streamlined process to help all businesses participating in the programme with their applications for the Paycheck Protection Program (PPP).

PPP was created to help small businesses continue to pay and provide benefits to employees. TaylorChandler provides all services needed to apply for a PPP loan and to obtain forgiveness of the loan under federal guidelines. This level of service and support is unprecedented in the medical stop loss/health risk marketplace. As a result of this programme, hundreds of employers have had applications for a PPP loan successfully filed by TaylorChandler and Iron Health.

How important is experience working with captives in terms of providing high-quality accountancy, audit and tax advice?

Having a strong fundamental understanding of the captive insurance industry is essential to providing excellent accounting services. At TaylorChandler, we actively seek out continuing education opportunities to keep up with the fast-paced changes in the industry.

The professionals in our firm currently provide accounting, auditing, tax, compliance, advisory, and management services to several insurance organisations and their related subsidiaries. We assist our clients with many additional issues including National Association of Insurance Commissioners and AM Best filing and reporting requirements and state regulator examinations.

In addition, our professionals have achieved many designations that very few Certified Public Accountants hold. These designations include the Chartered Property Casualty Underwriter, the Certified Financial Examiner, the Certified Financial Examiner, the Associate in Reinsurance, the Associate in Insurance Accounting & Finance, the Associate in Regulation & Compliance, and the Associate Compliance Professional.

We believe that only by obtaining specialised knowledge of the insurance industry can professionals offer the highest levels of service to clients.


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Image: Unsplash.com/Scott Graham

US AWARDS 2020