AMC Advantage

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January 22nd, 2018
Insurance Regulatory Examiners Society Picks Van Petten Group of Chicago

The Insurance Regulatory Examiners Society says it has selected Chicago’s Van Petten Group for full-service management.

13 AMCs applied for the opportunity, six were short-listed and three were interviewed, IRES President Elect Ken Allen told AMC Advantage. As for the winner, “IRES was comfortable with their pricing and they demonstrated an exuberance and commitment in wanting to become IRES’ AMC that exceeded all other applicants,” he said.

IRES is an association of professional insurance regulators dedicated to consumer protection. IRES helps to promote fair, cost effective, and efficient insurance regulation by ensuring professionalism and integrity among the individuals who serve state and federal insurance regulatory bodies.

As for the RFP process, Allen said: “Using the AMC Institute on-line posting process seemed to work very well. Not having completed an RFP process before, I would have started the posting process a few months earlier as it took a little bit longer to complete than expected. There were a couple unexpected turns along the way which added time to the process; thus incorporate some extra time to account for any unexpected issues, and if none come up you’ll be ahead of the game.”

AMC Advantage code-named the opportunity “Major Beehive.” It’s still viewable online by AMC Institute members (you must be signed in).

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