Fundamentals of P&C Insurance - Operating Expenses

Submitted by Administrator on Tue, 12/20/2011 - 12:44pm

Course Title: Fundamentals of P&C Insurance - Operating Expenses

Description: The course defines key terms and concepts related to the accounting for the operating expenses of a Property and Casualty insurer.

Topic: Accounting for the Operating Expenses of P&C Insurance Companies

Level: Basic

CPE Credits: 1.5 hours

Prerequisites: None

NASBA publication/revision date: November 2011

Learning Objectives:

Upon successful completion of Fundamentals of P&C Insurance - Operating Expenses, the learner should be able to:

Define functional expense groupings: Loss Adjustment Expenses (LAE), Underwriting Expenses, Investment Expenses
Understand distribution of insurer operating expenses to functional expense groupings
Understand Statutory and GAAP treatment of acquisition costs
Be able to define, calculate and test for recovery of deferred acquisition costs (DAC)
Understand concept of premium deficiency reserves

Outline:

Review nature of insurer operating expenses
Define functional expense groupings
- Loss adjustment expenses (LAE)
- Underwriting expenses
- Investment expenses
Discuss distribution of insurer operating expenses to functional expense groupings
Deferred acquisition costs (DAC)
- Statutory treatment
- GAAP treatment
Calculation of DAC
Testing for recoverability of DAC
Premium deficiency reserves

Date	Time	Cost
		$160 (first attendee) $140 (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: