Insurance CPE Trainings – Registration Is Open

Our exclusive insurance training programs, which were initially developed for internal employees, have now been opened to clients and friends of JLK Rosenberger. Regardless of whether you’re just beginning your career or an experienced professional in the industry, these training programs cater to varying levels of insurance industry experience.

Day One – Insurance Accounting Fundamentals Training: Financial Reporting for Property and Casualty Insurance

This full-day course will be held on July 26, 2023, at our Glendale, California training facility, and again on August 23, 2023, at our Addison, Texas facility. Both sessions will run from 8:30 am to 5:00 pm.

Our comprehensive training will cover a range of insurance topics including business model for property and casualty insurance, key statutory accounting concepts pertaining to the investment cycle, loss reserving and claims cycle, premium cycle, and reinsurance.

Upon completion of this course, participants will be able to:

• explain the general business model for insurance and what makes it distinct from most other industries.
• understand different property and casualty product offerings, how to account for, and how to report premiums and related acquisitions costs.
• understand the loss reserving cycle and how to account for and report losses and loss adjustment expenses.
• understand reinsurance, the basic types of reinsurance, and how to account for and report reinsurance transactions.
• understand the investment cycle of insurers and how to account and report investing activities.
• possess an understanding of the overall regulatory environment, including requirements that are imposed on insurance entities.
• express the basic differences between the statutory basis of accounting and generally accepted accounting principles as they pertain to insurers.

This course is recommended for new finance, accounting, and audit professionals, as well as experienced professionals seeking a refresher. Seats are limited to 25 attendees per session, and participants will earn 8.0 CPE credits in the areas of accounting and auditing. The cost for this training is $225, which includes lunch. All materials will be provided to attendees during the training.

Day Two – Deep Dive Workshop: Loss Reserving and Claims Cycle

This course can be taken as a standalone or as an add-on to the Insurance Accounting Fundamentals Training. The course will be held on July 27, 2023, in Glendale, California, and again on August 24, 2023, in Addison, Texas. Both sessions will run from 9:00 am to 1:30 pm.

This detailed workshop will cover topics such as accounting for claims, identifying key transaction cycle processes, and an introduction to prominent loss reserving methods employed by insurance companies, as well as an introduction to the audit risk assessment process pertaining to claims and the auditor’s response to identified risks.

Upon completion of the workshop, participants will be able to:

• understand the overall claims transaction cycle.
• understand the role of actuaries in provisions for loss and loss adjustment expense reserves.
• understand prominent actuarial methods employed by property and casualty insurers.
• be able to identify NAIC requirements surrounding the reserving for loss and loss adjustment expenses.
• identify the key financial reporting assertions for loss and loss adjustment expenses.
• identify the objectives of the audit of the claims cycle, significant risks, and responses to risks.

This workshop is recommended for finance, accounting, and audit professionals with at least a basic understanding of the financial model for insurance entities. With a limit of 25 attendees per session, participants will earn 4.0 CPE credits in the fields of Accounting and Auditing. The cost for this training is $150, which includes lunch. All materials will be provided to attendees during the training.