Accounting guidance and actuarial methods for booking sometimes controversial finite insurance transactions will be a topic at next week's Vermont Captive Insurance Association seminar.
VCIA said registration is still open for the Dec. 7 meeting and reception at the Inn at Essex in Essex, Vt.. The "Risk Transfer in Property and Casualty Contracts" seminar is also available via audio-conference, the association said.
The VCIA Web site noted that the National Association of Insurance Commissioners (NAIC) and the Financial Accounting Standards Board (FASB) have projects underway to clarify the question of what constitutes the transfer of significant insurance risk for accounting purposes.
The organization said its seminar will outline current accounting guidance and actuarial methods used to assess risk transfer. It also will assess FASB and NAIC initiatives and their potential impact on captive insurers.
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Online registration for the event will close Friday, but participants may register after that date on-site for a higher registration fee. No audio-conference participants will be allowed to register after Friday, VCIA said. CPE and CLE credits will be available for those attending in person or by phone.
Participating students of the International Center for Captive Insurance Education (ICCIE) will be credited for one-third of the teleconference requirement for the Associate in Captive Insurance designation, ICCIE said.
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