ACCOUNTING, RISK MANAGEMENT & FINANCE

IASA is a leading provider of education to the insurance industry on Accounting, Risk Management, and Financial (ARF) topics.  The ARF Program, as part of the IASA Annual Conference, is built by industry experts to deliver must-have information and emerging insights to prepare for the future of the insurance industry.  The ARF Program contains 6 distinct tracks to meet the needs of attendees in specialized concentrations, as well as a special topics area of interest to the industry at large.

Accounting and Financial Reporting Update
The Accounting & Financial Reporting Track provides attendees with the most recent developments affecting an insurance company’s financial statements.  These developments focus on changes and potential changes to U.S. GAAP, NAIC Statutory Accounting and Reporting requirements and Public Company Reporting requirements as mandated by the Securities and Exchange Commission.  A must attend for Chief Financial Officers and those responsible for or work with insurance carrier financial statements.

 

Sessions Include:





Monday, June 3 - 1:45pm - 3:15pm
101 Accounting Update

Moderator

Speakers

Are you up-to-date on the 2018 activity of the NAIC’s Statutory Accounting Principles Working Group (SAPWG)? Do you know what issues are still pending and, if adopted, might need to be addressed for year-end 2018? Are there other NAIC initiatives in the works that may eventually affect statutory accounting? This session will provide current information your company needs to prepare for necessary statutory accounting changes.

Objectives
  • Understand new statutory accounting requirements.
  • Determine needed company changes to meet new statutory accounting requirements.
  • Recognize areas of NAIC activity that need to be monitored.


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Operations
The Operations Track focuses on issues that impact both financial and business concerns.  The Operations track provides a business perspective to challenges facing both IT and Finance professionals with a goal to learn about current trends in the business environment and solutions that insurance carriers are using to meet the challenges and demands of today’s ever-changing technology landscape.  The topics are business in nature and do not get into the technical aspects of solutions and are designed for anyone looking to improve processes with efficiency and/or economic impacts.  Sessions include learning more about agile methodologies, enhanced claim payments, making successful business transformations, RFP best practices, common regulatory mistakes, and the IASA Tech Tank.

Sessions Include:





Monday, June 3 - 1:45pm - 3:15pm
102 Industry Perspective: Current Expected Credit Loss (CECL)

Moderator
Ryan Stevens, Commerce Bank

Speakers
Ryan Brassey, Clearwater Analytics
Allison Parks, Mutual of Omaha Insurance Company
Betsy Rose, Sate Street

Industry experts see the new GAAP Credit Loss standard, commonly referred to as CECL, as one of the most significant changes facing financial institutions today. There is universal agreement that implementing the standard will be challenging. With the implementation date just months away, join this session and gain knowledge from our experts on what you should be thinking about, what we learned from the implementation of IFRS 9 and what makes for an effective parallel plan.

Objectives
  • What people should be thinking about with regards to CECL implementation
  • Learning about changes in operations as a result of this accounting update
  • learning about difference between Impairment allowance Vs CECL


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Investments
This track focuses on topics related to investment accounting, regulation, and markets. Sessions provide attendees with insight to how peers handle various investment processes, as well as changes in NAIC and other regulatory changes for investments, including how they will impact your RBC. 

Sessions Include:





Monday, June 3 - 1:45pm - 3:15pm
103 Technology Business Management-A Finance and IT Collaboration

Moderator
Rachel Evans, BlackRock

Speakers
Donald Lin, BlackRock
Kevin Fry, Illinois Department of Insurance
Mark Davidson, Sentinel Investments
Lisa White, Western & Southern Financial Group
Brian Haberman, Western & Southern Financial Group

As the Insurance Industry becomes more centered around Information Technology (IT), managing the IT Portfolio becomes a key component of successful strategy execution. How do you, not just manage, but strategically align an IT Portfolio in a successful way? How can the needs of the business be met while maintaining control over costs? In 2016, Western & Southern Financial Group began a collaborative effort between IT and Finance to better manage the large, strategic and operational program and project requests coming from both outside, and within, IT. Through this collaborative effort, Western & Southern now Captures, on all Strategic Programs and Projects, a Business Case. Cost/Benefit Analysis. Estimate of the level of IT effort for execution. Complexity and Risk Assessments. • Has a rolling Portfolio that is vetted monthly at the Executive Level. • Assesses Demands based on strategic alignment. • Sequences the Portfolio based on priority and resource availability.

Objectives
  • • Explain the fundamentals of project portfolio management at Western & Southern Financial Group.
  • • Select and sequence the highest value work.
  • • Participate in an interactive walk-thru of the Western & Southern Demand Lifecycle.


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Special Topics
The Special Topics track provides insights into key topics of special interest chosen by industry. 

Sessions Include:





Monday, June 3 - 1:45pm - 3:15pm
104 The Ripple Effect of Tax Reform

Moderator
Greg Voorhies, Mercury Insurance Group
Brandy Vannoy, Johnson Lambert LLP

Speakers
Josh Keene, Johnson Lambert LLC
Paul Poston, Wellington Insurance Group
Tim O'Sullivan, Lancer Insurance Group
Antoine Hawkins, Amerisafe, Inc.
John Mruk, IAT Insurance Group

This session will discuss the impact we have seen on taxpayers and other taxing jurisdictions post first year implementation of the Tax Cuts and Jobs Act (“Act”). We will perform a deep dive into ways companies have had to adapt or modify internally and how the transition and clarifying guidance has changed our initial interpretations of the law. We will also cover common approaches that have been observed in putting these new rules into practice as companies prepare the first return that includes the tax reform changes. Additionally, we will discuss how states are adapting and reacting to the changes in response to the Act and what this means to taxpayers from a practical perspective.

Objectives
  • Learn best practices from companies on how they have made modifications in relation to tax reform.
  • Gain knowledge of updates related to transition/clarifying guidance released at the federal and state level.
  • Learn tips on how tax reform might impact the preparation of the 2018 returns.


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Risk Management
This track focuses on various enterprise risk and compliance topics impacting the Insurance industry.

Sessions Include:





Monday, June 3 - 1:45pm - 3:15pm
105 Unstable Outlook? The Changing Landscape of Fixed Income

Moderator
Lauren Williams, Johnson Lambert

Speakers
Kim Mobley, Johnson Lambert
Fred Danback, FOJP Service Corporation and Hospitals Insurance Company
David Fuge, Johnson Lambert
Walt Stubbings, Miles Capital

Fixed Income was traditionally considered the safe zone for insurers. But today, corporate credit quality is declining, the municipal bond market has been impacted by tax reform, and rates are rising. What do insurers do now?

Objectives
  • Identify the market forces that have impacted fixed income
  • Evaluate the big changes and how they will impact portfolios
  • Discuss ways to take advantage of the current market dynamics


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Tax and Legislative
The Tax & Legislative Track is forward thinking and will keep you informed and up to date on a myriad of topics.  These topics also seek to address issues facing insurance companies and how to prepare for them.  These topics include the tax considerations of principles based reserving, a current update on tax reform and changes, preparation for IRS audits, and preparing for the tax department of the future.

Sessions Include:

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TBD

Moderator
Lynne Flater, KPMG LLP

Speakers
Sheryl Flum, KPMG LLP

TBD

Objectives
TBD

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Reinsurance
The Reinsurance Track provides individuals a broad knowledge of how reinsurance affects the overall insurance industry.  Topics range from a basic introduction of reinsurance to pricing & placing reinsurance and impacts on financial & capital goals of an insurance company. 

Sessions Include:





Monday, June 3 - 1:45pm - 3:15pm
107 Essential Elements of Reinsurance

Moderator
Allison Tranberg, BMS Re US

Speakers
Urban Friesz, BMS Group
Stephen Korducki, BMS Group

Reinsurance is often referred to as “insurance for insurance companies.” While many of the concepts of insurance carry over to reinsurance, the reinsurance environment includes numerous unique terms, coverages and concepts. A solid understanding of these concepts will help finance, IT and risk professionals consider the common variables involved in different forms of reinsurance products and how they operate as a risk management tool. In this session we will provide a solid foundation of reinsurance principles and discuss key concepts to consider when developing a reinsurance program.

Objectives
  • Describe the role reinsurance plays in an insurance company's risk management strategy.
  • Provide insight into various reinsurance products and the objectives they are designed to achieve.
  • Analyze various ways premium, losses and expenses can be shared in a reinsurance program.
  • Evaluate coverage triggers and explore some of the more common scenarios for disputes.
  • Discuss reinsurance pricing methodologies and provide an overview of various commission calculations.


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