As specialized as they come
Years of experience and being trained solely in regulatory accounting has given Karsten Hatch the ability to not only speak the language of insurance but to predict trends that may affect statutory accounting in the future. His guidance and advocacy for our clients has helped smaller companies grow into strong, financially stable organizations and he is one of the best resources a company can have during the audit process. Karsten’s knowledge of the reporting requirements and changing regulations of insurance entities is unmatched in our organization, and our clients often turn to him for answers when compliance requirements change. Karsten’s specialization gives him a natural leadership quality in the statutory accounting niche, and he is currently the leader of our Insurance Practice Group.
People come first, always
Karsten’s finest quality is loyalty. Once you’re friends with Karsten, you’re friends for life. There’s never an ulterior motive or hidden agenda, he is just a genuine guy who really cares about people. Karsten is currently the head of our Mentoring Committee. He has a knack for finding the potential in our staff and helping them develop their best qualities. Karsten teaches the complexity of insurance compliance to staff during their first day on the job. This translates into a well-trained audit department that gives more specialized service to insurance companies. One of Karsten’s strengths is being able to maintain independence while keeping a friendly demeanor. When people need feedback, he is kind in delivery but accurate in scope. When clients have issues come up during an audit, he will take the time to explain the problem to them, so they are prepared for the audit committee’s questions. Never one to “take the money and run,” Karsten will spend the bulk of his day working with a growth mindset, keeping the clients’ best interests in mind.
He’s there for the duration
Some auditors stop working when they’re tired. Karsten stops working when he’s done. There is no better example in our firm of going the extra mile than Karsten. He is willing to take on extra projects for clients to give them value-added services that will benefit their organizations and keep them stable for the long haul. He has jump started other service lines in our organization to better serve the needs of clients, including internal audit services and due diligence processes. His service philosophy can be described as extraordinarily responsive. When a client needs him, Karsten is there. It doesn’t matter if the audit hasn’t begun, is in progress, or was completed 6 months ago. Karsten’s clients are important to him, and they know it.
What I Do
Karsten began his career working with Larson & Company in 2005 and has worked in auditing insurance companies since then. His expertise includes all accounting and auditing standards and regulations as specified by the AICPA, GAAS, GASB, NAIC, and FASB.
Who I Serve
Karsten specializes in auditing insurance entities, including life and health, property and casualty, captives, risk retention groups, and government risk pools. He can work with companies of all sizes, from well-established multi-million dollar companies to new, growing companies with little experience.
Who I Am
- A kind soul who has client growth as his overarching business goal
- A team leader who mentors others into successful roles
- A client’s best ally during the audit process
Education and Accomplishments:
- MBA Accounting Certificate, Westminster College, 2008
- Bachelor of Science, Accounting, Westminster College, 2005
- Member, American Institute of Certified Public Accountants (AICPA)
- Member, Utah Association of Certified Public Accountants (UACPA)
- Past President, Vice President and Secretary/Treasurer, Utah Chapter, Insurance
Accounting Systems Association (IASA)
- National Volunteer, Accounting Risk Finance Committee and Chapter Advisory Committee, Insurance Accounting Systems Association (IASA)
Little did we know…
- He worked as a welder to put himself through school
- He yells when watching sports, even if he is by himself
- He has hiked the highest peaks in Wyoming, Utah, Idaho and Colorado
- He earned his Eagle Scout when he was 12 years old