Eastern Alliance selects partner for regulatory risk management

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Eastern Alliance Insurance Group has selected Pittsburgh-based Compliance Assurance Corp. (CAC) to help it manage risk related to regulatory compliance.

Lancaster, Pa.-based EAIG will use CAC’s Comply On Demand Enterprise (CODE) to streamline and centralize activities associated with compliance, according to a statement from both companies.  CODE is CAC’s “software-as-a-service” solution suite, geared toward helping insurance companies address compliance challenges.

“Given the complexity of today’s regulatory environment, we wanted to establish a central platform for effectively tracking, managing, and responding to regulatory issues,” said Suzanne Emmet, senior vice president of claims and corporate compliance for EAIG, in a statement.

Emmet also noted that as an insurance provider, EAIG is subject to a complex set of state and federal regulatory challenges. “CAC’s exclusive focus on the insurance industry has allowed them to develop a solution that addresses our regulatory risks very effectively,” she said.

Jerry Shafran, president and chief executive officer of CAC, said the company is excited a “prominent firm” like EAIG has selected its comprehensive solution to manage regulatory risks.

CAC provides enterprise governance, risk, and compliance management software for the insurance industry.

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