A commutation is an agreement between the insurer and reinsurer to terminate all or part of a reinsurance contract in exchange for a cash payment or other considerations. Pricing may depend on the tail length of the reinsured line, with a discount applied for risk and the time value of money. Through commutation, the insurer reassumes the risk of liabilitie…
JLK Rosenberger announced today that it has earned the 2026 Best of Accounting Award for providing superior service to its clients. Presented by ClearlyRated, the Best of Accounting Award recognizes firms that deliver outstanding client experiences, based entirely on ratings provided by their clients. This year’s results place JLK Rosenberger well a…
In Brief: Parametric insurance pays when a predefined trigger occurs (e.g., wind speed, rainfall, earthquake magnitude), not based on the actual amount of loss. It uses objective third-party data, enabling transparent triggers and faster payouts with minimal claims adjustment. It typically complements traditional insurance, helping cover gaps li…
What Happened? On December 9, 2025, SAPWG adopted ASU 2019-12, Income Taxes (Topic 740) with modifications as a clarification to SSAP No. 101, Income Taxes. The adoption was intentionally limited. Only revisions to ASC 740-270-25-5 were incorporated—guidance that traces back to APB Opinion No. 28, Interim Financial Reporting (paragraph 20). Importa…
We’re proud to share that Accounting Today has again named JLK Rosenberger a Top Firm in the West in its annual regional rankings. This recognition marks a continued chapter in our firm’s growth story. It reflects the hard work of our team, the strength of our client relationships, and our commitment to delivering forward-looking service. While the accoun…
Construction businesses operate in an environment where precision and timing are everything. Managing multiple jobs, coordinating subcontractors, and staying on top of costs are demanding. Add complex billing cycles, compliance obligations, and financial reporting requirements, and the back office can quickly become a bottleneck. Many construc…
JLK Rosenberger regularly attends the National Association of Insurance Commissioners (NAIC) meetings. Below, you will find a recap of items brought before the Statutory Accounting Principles Working Group (SAPWG) during the latest meeting. In addition to the standard update matrix provided by the NAIC, we have included commentary on each item and h…
Accounting SSAP No. 65, paragraphs 4 through 9 provide guidance on accounting for claims-made policies and associated extended reporting. Tail coverage at charge for a fixed period For extended reporting endorsements issued for a defined period (e.g., six months, one year, five years), the tail premium is to be earned over the defined period with the res…
Accounting As per SSAP 62, paragraph 30, if the amounts paid for reinsurance are subject to adjustment and can be reasonably estimated, such estimated amount shall be the basis for amortization. To estimate the reinstatement premium amount, ultimate losses must be taken into consideration. The estimate should be periodically reevaluated until all cla…
What the FASB is proposing The FASB has been exploring a modernization of software accounting rules to better align GAAP with current business practices. In March, the Board unanimously voted to advance a proposal addressing internally used but not licensed (i.e., sold, leased, or marketed) software, specifically focusing on the criteria for capitali…
JLK Rosenberger welcomes Karsten & Company, PLLC, to the firm effective March 1, 2025. The addition expands JLK Rosenberger’s ability to help insurers navigate the accounting, regulatory, and business challenges they face and increases the firm’s team of hands-on, problem-solving professionals. Bill Rosenberger, Partner-in-Charge of the fir…
JLK Rosenberger, a leading accounting firm, announced today that they have won the Best of Accounting Award for providing superior service to their clients. ClearlyRated’s Best of Accounting® Award winners have proven to be industry leaders in service quality based entirely on ratings provided by their clients. On average, clients of 2025 B…
