P&C Statutory Accounting Principles

Broaden your existing knowledge of statutory accounting theory found in the NAIC Accounting Practices and Procedures Manual (AP&P Manual). This survey of Statements of Statutory Accounting Principles (SSAPs) will include key accounting concepts, significant interpretations, disclosure requirements, and other reporting considerations. A completed Annual Statement will be used to illustrate the application of these discussion points.

After completion, you will be able to:

• Explain the history, structure, and maintenance of the AP&P Manual
• Describe the general accounting guidance found in foundational SSAPs and Preamble
• Identify the Statutory accounting rules for assets, including:
  • General guidance for fair values and impairments
  • Valuation of fixed-income investments
  • Valuation of equity and real estate investments
  • Nonadmitted rules for premiums receivable and other assets
• Identify liability and surplus accounting issues, including those for:
  • Reserves
  • Guaranty funds
  • Surplus notes
  • Other liability and surplus accounts
• Apply statutory recognition rules to:
  • Premiums
  • Expenses
  • Reinsurance
  • Other policy contract and operational issues
• Recognize unique aspects of federal income taxation of insurance companies and statutory recognition of current and deferred income taxes

What Attendees Have Said:

“I really enjoyed this seminar and found it to be extremely helpful. The instructors were excellent!” S.S. 7/3/2019

"It was great that we brought our company’s financial statements and used them throughout the class as a reference. It made the information more meaningful and gave us greater insight into what would be important to us when we went back to our companies." C.N. 7/5/2017

"The instructors were very good at making the topics relevant to real-life scenarios and examples. I'm grateful that the Stat Accounting instructor showed us how to research topics ourselves, utilizing the course material to get us started. They also inserted some much-needed humor into their presentations." K.G. 9/15/15

Who Should Attend: Anyone who wishes to become familiar with NAIC Statutory accounting principles.

Prerequisites and Advance Preparation: An understanding of the P&C 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 PC Overview of Statutory Financial Reporting, conveniently scheduled to precede this seminar. A $600 discount is available, see Special Offers below. No advance preparation is required.

Delivery Method and Program Level: Group internet-based webinar

NASBA Publication/Revision Date: February 2021

Estimated CPE Credit: 14 hours in Accounting

Important Information About CPE for Multi-Day Webinars: CPE will be awarded separately for each webinar day attended. Daily CPE will be either full credit if the attendee responds to 75% or more of the CPE certification questions during each session, or no CPE credit if the attendee responds to less than 75% of the CPE certification questions per session. The total CPE hours awarded for the multi-day webinar, as shown on the CPE certificate, will be an accumulation of CPE per day.

Printed Course Materials: Tuition includes digital course materials. If you wish to have printed course materials, there is an additional per person charge (includes shipping). Select the Printed course materials option below; you will receive an email requesting a shipping address. Please allow at least five business days after sending your shipping address to receive the materials.

Special Offers:

• Register for this webinar and receive a voucher code for $600 off another over 7 CPE hours (excludes 7-hour Update on Accounting and Reporting)
• Group discount of $300 per attendee for the third and subsequent attendees registering for this webinar
• Current software clients receive a $100 discount with voucher code
• Only one discount code may be used per purchase

About Webinars:

• Internet Explorer is not compatible with Adobe Connect. We recommend using MS Edge, Chrome, or Firefox to access the webinar.
• We request that each person attending a webinar be registered regardless of CPE needs.
• Mobile devices or tablets cannot be used if requesting CPE since the CPE tracking program will not work with these devices.
• Registration closes 2 hours before the webinar start time.
• Before the webinar, check your computer's compatibility with our platform