Contract Review
and Compliance

Since 2002, Sarbanes-Oxley compliance activities have been center stage for public companies. Risk Managers should not think of Sarbanes-Oxley as someone else’s headache. Here’s why: Risk Managers assign their TPA’s significant financial authority often measured in $ millions. Risk Managers, under S-Ox, have a clear responsibility to insure the data quality and operational integrity of those TPA’s. Sarbanes-Oxley Basics for Risk Managers - Controls for TPA Services.

Shelter Island Risk Services (SIR) will perform a compliance audit under these new regulations. The controls SIR are beyond the standard reading of claim files, and the payoff is beyond sheer compliance. This process will benefit your organization by improving claim performance, data quality, and confirming that your TPA is delivering on contractual promises. The process is particularly useful when you change TPA’s and want to monitor differences in reserving and payment patterns.

SIR can bring your Department smoothly up to speed. We can review cash controls and billing systems, ensure consistency between claim payments and terms of insurance, and get proper accounting locked in for claim payments.