Financial Reporting for Non-Financial Managers

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What you will learn:

Many operations managers, systems professionals, executives, service providers, other non-financial managers and even the board of directors are uncomfortable with their ability to read and understand the financial statements of P&C insurance companies. This seminar has been especially designed for non-accountants who work in or with property and casualty insurance companies to familiarize them with important accounting concepts and improve their ability to discern and interpret the key reporting elements of the “Yellow Book”, the NAIC P&C Annual Statement.

Seminar content:

• Framework of statutory and GAAP accounting
• Overview of the balance sheet and income statement
• Key concepts of premium and loss accounting
• Discussion of key industry-specific issues
  • Acquisition costs
  • Calendar year and accident year losses
  • Nonadmitted assets
• Illustrations of reinsurance accounting and Schedule F
• Loss development issues and Schedule P
• Valuation of investments
• Highlights of statutory and GAAP financial statement differences

Who Should Attend:

Directors, executives, managers and staffs of insurance companies who wish to better understand their company’s financial statements. Also, industry vendors and other interested parties who would benefit from this knowledge.

Prerequisites:

No advance preparation or prerequisite is required for this Annual Statement overview.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m. on the first day and at 3:00 p.m. on the second day.

Estimated CPE Credit: 14.0 hours

Tuition: $1495

Note(s):

Ideal for a Private Seminar:  This seminar is a popular choice for a private seminar. Using your company’s financial statements, Booke Seminars will present this material at your location to your management team and/or board of directors. This arrangement creates an excellent opportunity for an in-depth discussion of your financial statements. The entire team will come away with a better understanding of your financials and an improved perspective of your organization.

Upcoming seminar dates and locations:

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