Fundamentals of P&C Insurance - Industry and Accounting Overview

Submitted by Administrator on Mon, 12/19/2011 - 12:55pm

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Course Title: Fundamentals of P&C Insurance - Industry and Accounting Overview

Description: The course introduces key concepts related to the operations of a Property and Casualty insurer. The course also introduces insurance accounting and regulatory reporting requirements.

Topic: Introduction to the Operations of P&C Insurance Companies

Level: Basic

CPE Credits: 2.0 hours

Prerequisites: None

NASBA publication/revision date: November 2011

Learning Objectives:

Upon successful completion of Fundamentals of P&C Insurance - Industry and Accounting Overview, the learner should be able to:

  • Understand the characteristics of the product lines sold by P&C insurers
  • Identify the different capital structures employed by P&C insurers
  • Understand the role of state insurance regulators and the NAIC
  • Identify and contrast the objectives of GAAP and statutory accounting principles
  • Define basic terms used in reinsurance accounting (direct, assumed, ceded)

Outline:

  • Property and Casualty line of business
    • Characteristics of property and liability coverages
    • Multi-peril lines of business
    • Specialty coverages
  • Capital structures
  • Insurance regulation
    • NAIC
  • Objectives of GAAP and statutory accounting principles
  • Sources of GAAP and statutory accounting principles
    • Prescribed and permitted practices
  • Nonadmitted asset concepts
  • Purpose and structure of Annual Statement
  • Function of reinsurance

DateTimeCost
$200 (first attendee)
$180 (each additional attendee)		Registration is closed.
(Registration closes 2 hours prior to the starting time.)

Note: All times are US Eastern. What time is it now?.


System Requirements:
  • Windows 95 or Higher
  • Internet Explorer 5.0 or Higher
  • 800 x 600 or higher screen resolution
  • Macromedia Flash Player 5 or Higher
  • Acrobat Reader