Comptroller of the Currency, Administrator of National Banks, “Insurance Activities: Comptroller’s Handbook” 2002-06-01

comptroller_handbookThis “Insurance Activities” handbook booklet provides information for bankers and national bank examiners on the risks, controls and supervision of national banks’ insurance activities by the OCC. This booklet provides examiners guidance on performing appropriate assessments of risks to national banks from insurance activities, including a process that may be used in planning and conducting risk assessments. Because of the complexity and importance of the legal requirements associated with insurance activities, this handbook also contains considerable legal guidance.
National banks have conducted insurance sales activities since the early 1900s. The types of insurance products and services offered and the associated distribution systems are changing significantly as this business line evolves. In recent years, national banks have engaged in insurance activities as a means to increase profitability mainly through expanding and diversifying fee-based income. Banks are also interested in providing broader financial services to customers by expanding their insurance product offerings.


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