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Claims Accounting and Reporting Workshop

August 22-23, 2011
Orlando, FL

Hotel Information: Walt Disney World Swan & Dolphin  (888)828-8850; $139/night

Tuition: $1,070 .... CPE Credits Available: 14

Package Discount

What you will learn

  • 1.5-day workshop provides understanding and working knowledge of statutory accounting and reporting principles for claims and claim adjustment expenses

  • A discussion of the Statement of Statutory Accounting Principles regarding claims, claims unpaid, premium deficiency reserves, claims adjustment expense, policy reserves, advance premiums, claim reserves, and unearned premiums

  • Statements of Statutory Accounting Principles covered in the workshop include SSAPs 47, 50, 54, 55, 66, 70, 85, etc.

  • Instructions on how to prepare and file Underwriting & Investment Exhibits Parts 2, 2A, 2B, 2C, 2D

  • How to prepare the U&I Exhibit Part 3 related to claims and claim adjustment expenses

  • How claims data affects the Health Risk-Based Capital formula

  • Workshop utilizes case studies, examples, and exercises to enhance participants' skills

  • Participants are encouraged to bring copies of their prior year's annual statement and RBC report for discussion and clarifications of any reporting problems

Seminar Content

  • Accounting for A&H Claim Liabilities and Reserves

  • Reporting for A&H Claim Liabilities and Reserves

  • Defining, Accounting and Reporting for Claims Adjustment Expense

  • Impact of Claims and Claims Adjustment Expenses on RBC

  • Fundamental reserve concepts

  • Evaluation of claim liabilities and reserves, including IBNR

  • Actuarial items in the statutory Annual Statement - Balance sheet and income statement items - Annual Statement premium and reserve exhibits - Notes and disclosure

  • Illustrative case studies

What's New for 2011

  • The impact of the U&I Exhibits on the new Supplemental Health Care Exhibit

Who should attend?

  • Individuals responsible for the preparation and individuals providing supporting data for the preparation of the Underwriting and Investment Exhibits Parts 2, 2B, 2C, 2D and 3

  • Individuals responsible for the review of the Underwriting and Investment Exhibits Accountants, Auditors, Actuaries, Financial Executives, Regulators and Others responsible for the preparation, review or auditing of the Underwriting and Investment Exhibits and other claim and claim adjustment expense exhibits.

Class Information

Class begins at 8:30 a.m. and ends at 3:00 p.m. on last day.

Continental breakfast will be served before each morning session and morning and afternoon refreshments are provided each day. Lunch is the responsibility of the attendee. A welcome reception will be held after the first day's session.

Field of Study: Specialized Knowledge and Applications

Level of Difficulty: Basic. No prerequisite or advance preparation is required.

Format of Course: Presentation with Training Guide, ("Group-live")

 

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Millennium Consulting Services, LLC 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.nasba.org
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