PC Annual Statement Preparation - NAIC Education Program by ronny19938


									                                                             P/C Annual Statement Preparation
                                      August 31-September 2, 2009 • NAIC Central Office, Kansas City, Missouri

Join us in Kansas City for NAIC’s P/C Annual
Statement Preparation workshop. This three-
day course offers the most up-to-date statutory                                   Register early and save!
accounting and reporting requirements, including a
fundamental understanding of statutory accounting
principles, statutory filing requirements, and risk-                              Tuition
based capital. You will learn about the balance                                   State/U.S. Government
sheet, income statement, and loss reserves                                        by July 20: $495
reporting along with the supporting schedules                                     by August 17: $545
and exhibits. In addition, you will see how the                                   after August 17: $595
investment schedules data flows through the other
parts of the statement, and learn about the impact                                All Others
of reinsurance on the insurance business and the                                  by July 20: $795
required reporting. A sample P/C annual statement                                 by August 17: $845
will be used throughout to support your learning.                                 after August 17: $895

This course is designed for those with one to three
years of insurance experience, whether reporting,
analyzing, auditing or regulating.

Continuing Education
Up to 18.5 CPE credits will be awarded for this three-day course.

                     The NAIC is registered with the National Association of State Boards of Accountancy
                     (NASBA) as a sponsor of continuing professional education on the National Registry
                     of CPE Sponsors. State boards of accountancy have final authority on the acceptance
                     of individual courses for CPE credit. Complaints regarding registered sponsors may be
                     addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite
                     700, Nashville, TN, 37219-2417. Web site: www.nasbatools.com.

NAIC Education & Training Department
816-783-8200 • etrainin@naic.org
Setting the standard in insurance regulatory and compliance training since 1989
                                                                             P/C Annual Statement Preparation
                                                 August 31-September 2, 2009 • NAIC Central Office, Kansas City, Missouri

Learning Objectives:
As a result of instruction, the target participant will be able to:

Unit: Introduction & Key Terminology                                              Unit: Cash Flow
• Identify the NAIC’s Mission.                                                    • Identify uses for cash projections.
• Calculate Health Statement Test.                                                • Explain usefulness in evaluating liquidity.
• Locate state capital and surplus requirements.                                  • Recognize the sources of information for completing the
• Understand NAIC Data Collection.                                                  Cash Flow page.
• List important filing dates related to the Annual                               • Complete the Cash Flow page.
  Statement.                                                                      Unit: Reinsurance
• Recall key terms pertaining to Annual Statement filing.                         • Explain the purpose of reinsurance.
Unit: SSAP                                                                        • Explain the different types of reinsurance contracts.
• Identify the fundamental statements of statutory                                • Report reinsurance transactions correctly.
  accounting.                                                                     • Explain authorized and unauthorized reinsurance and
• Recognize the hierarchy for statutory accounting                                  the related impact on credit for reinsurance.
  guidance.                                                                       Unit: Additional Filings
• Explain the fundamental differences between SAP and                             • State the reporting requirements for the Management’s
  GAAP.                                                                             Discussion and Analysis (MD&A), the Annual Audited
• Distinguish between how SAP and GAAP handle                                       Financial Reports, and Actuarial Opinion.
  accounting elements.                                                            • Complete the General Interrogatories.
• Define “nonadmitted asset” and cite the Statement of                            • Furnish all the information needed for the Notes to
  Statutory Accounting Principle (SSAP) that explains it.                           Financial Statements.
Unit: Assets                                                                      • Report transactions in Schedule Y.
• Complete the Assets page.                                                       • Provide all the items on the Jurat Page.
• Prepare supporting schedules to the Assets page.                                • Prepare the Five-Year Historical Page.
• Recognize various assets-related SSAPs.                                         • State the reporting requirements for the Medicare Part D
Unit: Liabilities                                                                   Coverage Supplement.
• Complete supporting schedules appropriately.                                    • Prepare Supplemental filings to the Annual Statement.
• Report liabilities correctly.                                                   Unit: Investments Reporting Overview
• Develop the allocation of expenses.                                             • Correctly report detail on the short-term schedules of
Unit: Liability – Actuary                                                           Schedules E & DA.
• Explain the difference between Case Reserves and                                • Explain how the investment information flows through
  IBNR/Bulk Reserves.                                                               various schedules of the annual statement.
• Discuss the costs considered when setting a reserve.                            Unit: 2010 Updates & Hot Topics
• Explain how reserves are evaluated.                                             • Identify the filing changes for 2010.
• Define the terms paid, unpaid, reserves, incurred,                              • Explain the impact of the change.
  reported, and ultimate as they relate to reserves.                              • Locate the details of the change on the NAIC website.
Unit: Schedule P Overview                                                         • Follow future exposed change issues.
• Know the basics of Schedule P reporting and its                                 Unit: RBC
  relationship to the rest of the annual statement.                               • Explain the purpose of Risk-Based Capital
Unit: Statement of Income                                                         • Complete the RBC formula accurately.
• Complete the Statement of Income.                                               • Explain the various action levels.
• Recognize the connections between the Statement of                              • Identify current issues.
  Income and the related schedules and exhibits.
• Accurately complete the related schedules and exhibits.
• Recognize the different types of expenses.
• Calculate investment income.
• Recognize the difference between realized and
  unrealized gains/losses.

NAIC Education & Training Department
816-783-8200 • etrainin@naic.org
Setting the standard in insurance regulatory and compliance training since 1989
                                                                            P/C Annual Statement Preparation
                                             August 31-September 2, 2009 • NAIC Central Office, Kansas City, Missouri

   The NAIC Central Office is located in downtown Kansas City in the Crown
   Center complex, adjacent to the Hyatt Regency Crown Center hotel.
   Make your hotel reservations by calling the hotel directly. Please
   reference the NAIC P/C Annual Statement Preparation course to receive
   the special room rate.

                      Hyatt Regency Crown Center
                      2345 McGee Street, Kansas City, Missouri 64108
                      (816) 421-1234

   Delivery Method: Group-Live
   Program Level: Basic
   Prerequisites: One to three years of insurance experience (reporting, analyzing, auditing or regulating)
   Advanced Preparation: None

   Withdrawals for full refund are permitted up to three weeks before the beginning date of the course; cancellations
   after this date will result in no refund. Notification of cancellation must be received in writing. If issued, refunds will
   be mailed after the completion of the course. Substitutions are accepted up to one week before the course begins.

   For more information regarding refund, complaint and/or program cancellation policies, please contact our offices
   at 816-783-8200 or etrainin@naic.org.

   REGISTER online at www.naic.org/education_home.htm or complete and return the registration form
   below by August 17. Space is limited so you are encouraged to register early. You will be contacted via e-mail
   with confirmation of your registration.

 P/C Annual Statement                    Name:

 Preparation                             Title:


   Aug 31 - Sept 2, 2009                 Address (No PO Boxes):
   Kansas City, MO                       City:                                        State:                Zip:

   FAX TO:                               Phone:                                       E-mail:
   (816) 460-7544
                                        Tuition                                       by July 20    by August 17   after August 17
   MAIL TO:                              State/U.S. government employees               o $495         o $545           o $595
   NAIC Education & Training             All others                                    o $795         o $845           o $895
   Post Office Box 870335
   Kansas City, MO 64187-0335            o       I am seeking CPE credit.

   FED-EX/AIR MAIL ADDRESS:             Payment Method
   UMB Bank                              o       Check or Money Order payable to the NAIC (Payment must accompany registration form)
   Attn: Wholesale Lockbox, 6th Floor    o       Zone Funds (State Ins. Dept. Staff only)
   Box 870335                            o       Grant Funds (State Ins. Dept. Staff only)
   928 Grand                             o       Scholarship (State Ins. Dept. Staff only)
   Kansas City, MO 64106                 o       Credit Card (We will contact you by phone to obtain payment information)


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