Insurance Industry Statutory Accounting & Reporting Update Conference 2017

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With Life, Property/Casualty & Listed Company Expert Breakout Sessions

Insurance Industry Statutory Accounting & Reporting Update Conference 2017

CPE Credit: 16 Hours

Price: $1,445.00

NASBA Field of Study: Specialized Knowledge

 

Overview

In this highly specialized conference, America’s leading insurance accounting experts will provide you with the latest updates and success strategies for dealing with today’s complex, confusing and ever-changing statutory accounting and reporting rules. It also covers other important insurance industry-specific developments and includes special breakout sessions for Life, Property/Casualty and Publicly Listed Insurance Companies.

 

AGENDA HIGHLIGHTS


•  Keynote AddressFuture Trends in Regulatory & Statutory Accounting

•  Statutory Accounting Updates

•  Insurance Tax Update 

•  Statutory Accounting Hot Topics

•  ORSA Implementation Updates

•  Roundtable on Today’s Insurance Issues

•  Actuarial Update & Trends in Reserving

•  Cybersecurity—Regulating Data Security

•  FASB Update—New Lease Standard

•  FASB ASU 2015-09—Disclosures About Short Duration Contracts

•  Annual Statement Updates Breakout Sessions
   – Property & Casualty Insurance
   – Life Insurance

•  Frequently Encountered Accounting Issues Breakout Sessions
   – Property & Casualty Insurance
   – Life Insurance
   – Listed Companies

 

LEARNING OBJECTIVE  To provide financial professionals with an update on today’s key issues and statutory accounting
and reporting regulations that impact insurance companies.

PREREQUISITE  None.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Update.   
NASBA FIELD OF STUDY  Specialized Knowledge.   DELIVERY METHOD  Group-Live.

 

This program is also available via live webcast
Insurance Industry Statutory Accounting & Reporting Update Conference 2017 Webcast

Agenda

DAY ONE AGENDA*


Deluxe Continental Breakfast & Registration
8:00
 – 8:45 AM

Welcome & Opening Remarks
8:45
 – 9:00 AM

Keynote Address—Future Trends in Regulatory & Statutory Accounting
9:00
 – 9:30 AM

Statutory Accounting Updates
9:30 – 10:30 AM
This session will discuss recent substantive and non-substantive statutory accounting revisions. Some of the topics to be addressed are:
Money market mutual funds
Investment Classification Project—SSAP No. 26R
Surplus notes
Subsidiary, controlled and affiliated entities
Repurchase disclosures

Break
10:30
 – 10:45 AM

Statutory Accounting Updates (continued)
10:45 – 11:15 AM

Insurance Tax Update
11:15 AM – 12:30 PM
2017 election and tax legislative update
Tax reform and its impact on the insurance industry
P&C and life insurance tax update
Statutory and GAAP tax update
Tax consequences of mergers and acquisitions of insurance companies

Luncheon
12:30
 – 1:30 PM

Statutory Accounting Hot Topics
1:30 – 3:00 PM
This session will discuss current statutory accounting issues being considered by the Statutory Accounting Principles (E) Working Group. Anticipated topics include:
Deferred premiums—derivatives
Variable annuity derivatives
Investment Classification Project
Settlement of variation margin
Bank loans
Surplus notes issued at a discount

Break
3:00
 – 3:15 PM

ORSA Implementation Updates
3:15 – 4:15 PM
Understand the gaps in the insurer's articulation of the "ORSA story" to the regulator. What regulatory questions should the ORSA answer?
NAIC staff involved in supporting the state departments of insurance on ORSA will cover in detail the elements of the ORSA that are often overlooked by the insurer. We will explore how the insurer can relate the various building blocks of each of the three sections of the report into a comprehensive, readable, and unique "ORSA story" that keeps improving with each annual report.

• Summarize the areas in the ORSA filings that display best practices and those areas that need
  improvement

Learn best practices to prioritize and communicate to the regulator the areas of the ORSA that are
  targeted for improvement in subsequent reporting

Receive updates on how the annual ORSA reports will be used by state regulators in solvency
  regulation

Identify the charges and current work focus of the ORSA Subgroup

Roundtable on Today’s Insurance Issues
4:15 – 5:00 PM
In this interactive discussion, a panel of top insurance accounting experts will provide real-world guidance on today’s most complex and challenging topics. This will be a great opportunity for participants to obtain answers to their specific questions.

Cocktail Reception
5:00
 – 6:00 PM
 

DAY TWO AGENDA*


Deluxe Continental Breakfast
8:00
 – 8:45 AM

Welcome & Opening Remarks
8:45
 – 9:00 AM

Actuarial Update & Trends In Reserving
9:00
 – 10:00 AM

Break
10:00 – 10:15 AM

Cybersecurity—Regulating Data Security
10:15
 – 11:15 AM
Insurance companies are aggregators of tremendous volumes of sensitive, confidential and protected information that is highly valued by cyber criminals. Consequently, regulators and legislators are focused on ensuring that insurers prioritize cybersecurity. This session will focus on the topics below:
Discuss the status of the NAIC model cybersecurity laws and review its requirements
• Provide an overview of current and pending regulations and laws related to cybersecurity for
  insurance companies
• Outline steps insurers can take to improve their cyber risk profile and cybersecurity posture

FASB Update—New Lease Standard
11:15 AM – 12:30 PM
The leasing session will enable participants to:
Identify the main provisions of the New Lease Standard as contrasted with prior accounting
  requirements
• Identify financial statement presentation and disclosures required by the New Lease Standard
• Recognize operational impacts of the New Standard

Luncheon
12:30
 – 1:30 PM

FASB ASU 2015-09—Disclosures About Short Duration Contracts
1:30 – 2:45 PM
This session will enable participants to:
Understand why the Amendments were issued
• Understand the ASU requirements and effective dates
• Understand guidance interpretation and implementation considerations

Breakout Sessions (Select One)
2:45 – 3:30 PM
• Property and Casualty Insurance Annual Statement Updates
• Life Insurance Annual Statement Updates

Break
3:30
 – 3:45 PM

Breakout Sessions (Select One)
3:45 – 5:00 PM
• Property and Casualty Insurance Frequently Encountered Accounting Issues
• Life Insurance Frequently Encountered Accounting Issues
• Listed Companies Frequently Encountered Accounting Issues

Conference Ends
5:00 PM

 

* PLEASE NOTE: Session topics and times are subject to change based on location and speaker availability. Please call 1-800-544-1114 for specific agenda details.

 

This program is also available via live webcast
Insurance Industry Statutory Accounting & Reporting Update Conference 2017 Webcast

Speakers

CONFERENCE CHAIRPERSON


Imran Makda, Co-Leader, National Insurance Practice, BDO USA, has more than 20 years of accounting experience providing assurance services to public and privately held companies. He primarily focuses on audits of insurance companies and his clients include several large multinational corporations. In addition, Mr. Makda has extensive SEC reporting experience and has worked with various clients on Initial Public Offerings (IPOs), secondary offerings, and private placements of debt and equity instruments.

 

SPEAKERS INCLUDE


Adam Brown, Partner and National Director of Accounting, BDO

James Evans, Managing Director, Insurance Advisory Services, BDO

Sherry Flippo, Financial Regulatory Services, NAIC

Julie Gann, Senior Manager, Accounting and Reporting, NAIC

Marc Rockower, Managing Director, Tax Services Insurance Industry Practice, BDO

Judy Selby, Managing Director and Insurance and Technology Advisory Services Leader, BDO

Julie Valpey, Partner, National SEC Department, BDO

Barbara Woltjer, Partner and Associate National Coordinator for Insurance Industry Practice, BDO

 

This program is also available via live webcast
Insurance Industry Statutory Accounting & Reporting Update Conference 2017 Webcast

Workshop

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Location

CPE INC. has reserved a block of rooms at preferential rates. To make your hotel reservation,
call CPE INC. or the hotel’s reservation department and ask for the CPE INC. special room rate.

 

New York Marriott Marquis
1535 Broadway
New York, NY 10036
(212) 398-1900

 

This program is also available via live webcast
Insurance Industry Statutory Accounting & Reporting Update Conference 2017 Webcast