Statutory Accounting Principles

Submitted by Administrator on Thu, 03/17/2011 - 4:03pm

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What you will learn:

Participants will broaden their existing knowledge of statutory accounting theory found in the NAIC Accounting Practices and Procedures Manual. Statements of Statutory Accounting Principles (SSAPs) and Interpretations with significant impact on P&C insurers will be examined. Discussions will cover key accounting concepts, disclosure requirements and other reporting considerations for each SSAP. A completed Annual Statement will be used to illustrate application of these discussion points.

Seminar content:

  • History, structure and maintenance of the AP&P Manual
  • Foundational SSAPs
  • Valuation of assets
    • General investment guidance
    • Fixed income investments
    • Equity and real estate investments
    • Impairments
    • Premiums receivable and other noninvested assets
  • Liability and surplus issues, including
    • Reserves
    • Guaranty funds
    • Surplus notes
  • P&C operations, including
    • Premiums
    • Reinsurance
    • Other policy contract issues
  • Federal income taxes

Who Should Attend:

Anyone who wishes to become familiar with NAIC statutory accounting principles.

Prerequisites:

An understanding of the property and casualty business and its financial reporting is assumed. We recommend that those who need this knowledge attend our Accounting and Financial Reporting seminar. At a minimum, we recommend that they attend our one-day Overview of Statutory Financial Reporting seminar, conveniently scheduled to precede this seminar. No advance preparation is required for this intermediate level seminar.

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):

Conveniently preceded by the Overview of Statutory Financial Reporting seminar, which may be added for only $695, a $500 savings.

Upcoming seminar dates and locations:

There are no upcoming dates for this seminar.
Look for our 2012 schedule in February/March.

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