30 Years of Coverage? We Think That’s a Good Risk.

In an industry defined by the assumption of financial risks, forging a partnership with an accounting firm that is knowledgeable about your business is an exercise in risk mitigation in and of itself. Insurers, state regulators and even other CPA firms call on the experience of Porter Keadle Moore, LLP (PKM). In 1977, our firm was founded on service to the insurance industry and we’re continuing to strengthen that partnership nationwide.

Best's Review Named PKM one of the Nation's:

• “Top 30 Audit Firms Based on Net Premiums Written”
• “Top 15 Audit Firms Based on Policyholder Surplus within Property and Casualty”

There is no substitute for a professional who not only understands your business, but also grasps the fundamentals of the larger market in which you operate and compete. PKM’s Insurance Services Group is a team of professionals lead by four Partners dedicated to the insurance industry, representing each of the firm’s three service disciplines (two audit, one tax and one systems). We are unique in that we have experience that stems not only from the public environment but also from industry. As such, we can offer a unique perceptive to serving our clients not only because of our knowledge and skills, but our experiences. With PKM you can be confident you have selected a firm that has a history of providing quality services and whose focus is on helping clients improve their businesses.

Serving Insurance Companies

Our insurance client base includes more than 20 property & casualty insurance companies domiciled in Georgia, Florida, South Carolina, Texas, Washington D.C., and the Turks and Caicos Islands. These clients range from large players – writing premiums of well over $500 million annually and with assets approaching $1 billion – to smaller entities such as start-ups. In fact, our reputation as an insurance industry leader and expert has allowed us to serve other CPA firms in multiple states by lending our expertise to them to support their insurance audits. PKM has also been included in an exclusive group of firms chosen by the Georgia Insurance Department to assist them in financial condition examinations and the State of South Carolina to audit captives domiciled in that state.

Serving Captives and Risk Retention Groups

PKM’s professionals have experience working with Single Parent/Pure Captives, Group Captives (Industrial Insured/Association), Risk Retention Groups and Core/Parent Reinsurance Arrangements, all with diverse needs. This includes structuring and compliance which takes several factors into consideration, such as risk distribution and the economic family issue of whether an arrangement between a sub and a parent can be deemed “insurance” for federal tax purposes.

Serving MGAs

PKM serves managing general agencies (“MGA’s”) and retail agency groups with operations in Georgia, Florida, Alabama, South Carolina, Louisiana and Texas. While many agencies are not required to have their financial statements audited and are not subject to the same level of supervision as are insurers, there is a growing trend among insurers, particularly those subject to SEC requirements, to have their MGA financial statements audited. Through our experience, we are well acclimated to the challenges an agency faces, particularly during an initial audit, and can help make the process a smooth one.

Serving Third-Party Providers to the Insurance Industry

Our expertise and service to the insurance industry extends well beyond insurers themselves. PKM has a team of auditors with specific insurance expertise that are responsible for auditing information systems and internal controls. These clients include some of the largest software companies and third-party processors in the country.

Serving Agency Operations

Our expertise and service to the insurance industry extends well beyond insurers themselves. PKM also serves as auditor, income tax accountant and consultant for several managing general agencies ("MGA's") and retail agency groups with operations in Georgia, Florida, Alabama, South Carolina, Louisiana and Texas. While many agencies are not required to have their financial statements audited and are not subject to the same level of supervision as are insurers, there is a growing trend among insurers, particularly those subject to SEC requirements, to have their MGA financial statements audited. Through our experience, we are well acclimated to the challenges an agency faces, particularly during an initial audit, and can help make the process a smooth one. Beyond the audit, there are many financial business risks and opportunities agencies face daily. We bring expertise to help design appropriate strategies to effectively deal with these risks and opportunities.

Serving with Experience

PKM’s Insurance Services Group is a team of professionals with many decades of combined industry experience. PKM Partner Greg Foster has more than 15 years’ experience. He leads a team of professionals who go through extensive industry training before serving insurance clients.

PKM is actively involved in the Insurance Accounting and Systems Association (IASA) at both a local chapter and national level. We demonstrate our commitment to the industry by volunteering for industry service positions.