Overview of Statutory Financial Reporting

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What you will learn:

Participants will obtain an overview of P&C insurance and key accounting concepts used in the industry. Lines of business, terminology, highlights of the NAIC Annual Statement, and reporting of premiums, losses and expenses will be addressed. The day will conclude with a review of the statutory balance sheet and income statement.

Seminar content:

• Characteristics of industry lines of business
• Statutory and GAAP objectives
• Structure of the P&C Annual Statement
• Premiums, losses and expenses
• Review of the statutory balance sheet and income statement

Field of Study: Accounting

Who Should Attend:

Anyone attending the Federal Income Taxation, Financial Analysis or Statutory Accounting Principles seminars, which immediately follow this seminar, or who needs a better understanding of P&C financial reporting. Those attending the Investment Accounting and Reporting seminar, which also immediately follows this seminar, who want an introduction to accounting and reporting concepts for P&C insurance company operations. Also, anyone desiring an introduction to the unique financial characteristics of the property and casualty insurance business.

Prerequisites:

No advance preparation or prerequisite is required.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m.

Estimated CPE Credit: 8.0 hours

Tuition: $1195

Note(s):

Tuition is $695 if attending in conjunction with Federal Income Taxation, Financial Analysis, Statutory Accounting Principles or Investment Accounting and Reporting, a $500 savings.

Upcoming seminar dates and locations:

All seminar dates for the full year are listed below.