• The new Form F requirement for insurers

    The newest revision to the Insurance Holding Company System Model Regulation (the Act) has added the annual filing requirement of Form F - Enterprise Risk Reporting. Form F focuses on risk created by non-regulated entities, while ORSA primarily focuses on regulated entity risk.
  • NAIC summer 2013 meeting highlights

    There were several items of interest that came from the Statutory Accounting Principles Working Group at the summer meeting of the National Association of Insurance Commissioners (NAIC). These include SSAP No. 35R - guaranty fund and other assessments, Issue paper No. 146 - share-based payments with non-employees, and the new SSAP regarding working capital finance investments.
  • Big changes coming for issuers of insurance contracts

    The Financial Accounting Standards Board (FASB) recently issued Proposed Accounting Standards Update - Insurance Contracts (Topic 834) (the update) to improve current US generally accepted accounting principles (GAAP) and to move toward an international standard.
  • Final repair and maintenance regulations

    In September, the IRS and Treasury Department released final regulations providing guidance regarding the deduction and capitalization of expenditures related to tangible property (commonly known as the repair and maintenance regulations). The final regulations will affect all taxpayers that acquire, produce, or improve tangible property.
  • Ten considerations in a quality of earnings study

    When entering into a preliminary agreement to purchase a going concern it is considered prudent for the buyer to contract independent professionals to conduct a quality of earnings study in order to validate the buyer's investment thesis.