The insurance sector plays a fundamental role in our nation’s prosperity. By providing businesses and individuals with a variety of insurance policies, insurance companies offer vital protection against possible risks and losses. However, insurers face many challenges, including rapidly advancing technology, climate change and cybersecurity. They are also challenged with complex accounting standards unique to their industry.
For all these reasons and more, insurance companies need to work with advisors who specialize in the intricacies of insurance accounting.
Brown Plus is a leading provider of audit, tax and advisory services to insurers across the country. Our team features professionals with over 35 years of experience serving insurance companies. Our breadth of experience serving insurers has earned us rankings on lists of top audit firms of insurance companies in the United States by AM Best and Aon Ward. In 2023, Brown Plus was nationally ranked the 23rd largest audit practice serving the property and casualty (P&C) insurance industry, based upon the loss reserves of the P&C insurance clients we serve, as well as the 11th largest audit practice, based upon our total number of P&C insurance clients.
What Types of Insurance Entities Do We Serve?
We serve a wide variety of mutual insurance companies, stock insurance companies, risk retention groups and self-insured groups across the U.S. within several insurance subsectors, including:
Team Members
Industry Memberships
We stay informed on current developments affecting the insurance industry by monitoring the activities of the National Association of Insurance Commissioners (NAIC), the Insurance Accounting & Systems Association (IASA), the Insurance Tax Conference (ITC) and the Internal Revenue Service (IRS), as well as the various state insurance departments.
We aim to give back to the industry through our memberships and sponsorships with several state-based insurance associations, including:
What Services Do We Provide for Insurance Companies?
The Brown Plus Insurance Practice specializes in providing accounting and auditing, tax and business advisory services to insurance companies, including:
Tax Services
- Business Tax Services
- Merger and Acquisition (M&A) Consulting
- Research and Development (R&D) Tax Credit Consulting
- State and Local Tax Services
- Tax Compliance
- 953(d) Elections
Advisory Services
- Business Valuations
- Corporate Governance Annual Disclosure Consulting
- Cybersecurity Assessments (NAIC Data Security Model Law) and Education for Board Members
- Human Resources (HR) Consulting
- Litigation Services
- Outsourced Accounting Services
- Representation with State Regulators and/or AM Best
Why Should Insurers Choose Brown Plus for Their Accounting and Consulting Needs?
Our team members have extensive knowledge of the unique financial demands of the industry. We have significant experience with both Statutory Accounting Principles (SAP) and Generally Accepted Accounting Principles (GAAP), and our team of insurance tax specialists is well versed in the complex aspects of insurance taxation at both the federal and state levels.
We stay informed on current developments affecting the insurance industry by monitoring the activities of the National Association of Insurance Commissioners (NAIC), the Insurance Accounting & Systems Association (IASA), the Insurance Tax Conference (ITC) and the Internal Revenue Service (IRS), as well as the various state insurance departments. We communicate significant updates to our clients and are available to help them assess the impact of such developments on their finances, reporting and/or business operations.
We aim to give back to the industry through our memberships and sponsorships with several state-based insurance associations, including:
- The Maryland Association of Mutual Insurance Companies (MAMIC)
- The New York Insurance Association (NYIA)
- The Pennsylvania Association of Mutual Insurance Companies (PAMIC)
- The Virginia Association of Mutual Insurance Companies (VAMIC)
The Brown Plus Insurance Practice is knowledgeable, experienced and passionate about the insurance industry. Contact the professionals at Brown Plus today to learn how we can help your insurance company see what’s possible!
Our Locations
Brown Plus provides services nationwide with a concentration of clients in the Mid-Atlantic region. Our offices are located throughout Pennsylvania and Maryland.
