That’s a Wrap!
Insurance industry veterans know that accounting staff responsible for preparing a carrier’s annual statement draw a sigh of relief after March 1, the deadline for filing. Many of them face a year-end crunch of manually assembling information from different places, systems, and spreadsheets. There’s also a scramble to secure Schedule F funding, in forms of letters of credit, trust fund and other collateral. The scramble for reducing or eliminating the Schedule F penalty is paramount.
