Description: An update on the latest actions of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).

Description: This article provides an overview of the impact of the revisions to the Standard Valuation Law adopted by the NAIC in 2009 on accident and health insurance.

Description: Thoughts on the future of financial reporting.

Description: Proposal to the NAIC and state regulators to recalibrate life insurance reserve and capital standards to ensure the life industry successfully withstands the historical low interest rate environment.

Description: Financial Reporting for Healthcare Plans objectives, defining market segments, preparing & recasting segment monitoring reports, quantification of liabilities, reconciliation of claim payments, medical management reports, expense control, company plans & projections & budgets, financial indicators & measurements. Issue No. 41.

Description: Health insurance company assets and liabilities have evolved since the Patient Protection and Affordable Care Act (ACA) was signed into law in March 2010. The ACA fundamentally rearranged how commercial health insurance is funded by integrating federal premium subsidies and pass-throughs together with a marketplace interwoven with transfer payments among stakeholders. The impacts of these programs can be seen in specific accounting items on the balance sheets of health insurance companies over the past 10 years. Their emergence follows three primary trends: (1) balance sheet items tend to be larger and take longer to settle, (2) there are more interactions among items, and (3) the final settlement amounts are more uncertain.

Description: This article discusses market declines and the impact that white collar crime or gross dishonesty in financial reporting can have on market declines.

Description: As companies strive to remain competitive in today's dynamic marketplace, the role of Financial Planning & Analysis (FP&A) has evolved significantly. It has transitioned from a purely operational function to a strategic imperative. This is most apparent in the life insurance sector, where complex regulatory changes and technological advancements are reshaping traditional practices. In this session, we will delve into the critical aspects of modernizing FP&A within the life insurance industry, exploring key challenges, emerging trends, and best practices. Key areas of discussion include: - Navigating Different Regulatory Frameworks: Companies have to navigate different regulatory lenses for various purposes including budgeting, capital management, rating agencies review, etc. The implementation of regulatory frameworks such as IFRS 17, LDTI, and Principles-Based Reserves (PBR), and the recent trend in establishing Bermuda entities has significant implications for financial reporting and capital management in the life insurance sector. We will discuss how companies can explore strategies for compliance and adaptation within the FP&A process. - Strategic Planning and Resource Allocation: Companies are faced with higher expectations to guide both internal and external parties on the financial impact of their plans. A comprehensive exploration enabled by advanced analytics is critical for communicating, prioritizing, and allocating a company's resources on transactions, product development, and capital management. Our panel will explore how strategic planning has advanced in recent years, providing insights into effective approaches for aligning strategic objectives with financial resources. - Technological Advancements: The rapid pace of technological innovation has opened new possibilities for FP&A, offering advanced modeling techniques and data analytics capabilities. However, many organizations face challenges in harnessing these technologies effectively. This session will examine the role of technology in modernizing FP&A and highlight best practices for implementation. By attending this session, participants will gain: - Strategies for aligning strategic planning with resource allocation and effectively communicating financial impacts to internal and external stakeholders. - An understanding of the current state of FP&A within the life insurance industry, including emerging trends and challenges. - Insight into the implications of regulatory and technological advancements on FP&A processes and functions. - Best practices for leveraging technology to enhance FP&A capabilities and drive strategic decision-making.

Description: Delve into the nexus of actuarial science in the heart of D.C. This session offers an in-depth look at the sophisticated mechanics behind additional health insurance reserves, framed by the unique regulatory landscape of national policy. As we explore premium deficiency reserves and additional reserve requirements, attendees will understand how regulatory oversight and frameworks influence these critical actuarial items. Through engaging discussions and case studies, we'll uncover the strategic intersections between actuarial decisions and policy implications, offering insights into effectively navigating the complexities of governance and regulation as they relate to additional health insurance reserve. Join us for a compelling journey through the art and science of actuarial work in the political arena.

Description: The NAIC revamped SSAPs No 26R 'Issuer Credit Obligation', No 43R 'Asset-Backed Securities' and 21R 'Other Admitted Assets' effective 1/1/2025. The definition of a bond was changed to be principles-based rather than based on legal form. Current and future bond holdings will need to be assessed against the frameworks outlined in the revised SSAPs to determine which assets will continue to remain on Schedule D (i.e., in scope of SSAP No. 26R and 43R) and which assets will need to be reclassified to Schedule BA (i.e., in scope of SSAP 21R). By attending this session, attendees will understand the regulatory, financial and operational implications of this change for insurers.