I know! I know! You haven’t even completed your statutory annual filings yet. I fully understand. But you don’t have a lot of time after the annual filings to start on your quarterly filings. Wouldn’t you rather know what quarterly statement changes you will be facing now, rather than at the last minute? That is what I thought! Let’s get you prepared for that first quarter.

There are some changes to the NAIC’s official cash flow instructions. A new line, B10, has been added to the bond section of the investments worksheet, with the remainder of the lines in that section being renumbered. The change is needed to accommodate the new line that was added to the Schedule D – Verification Between Years for the reporting of investment income recognized because of prepayment penalties and/or acceleration fees. For the cash flow, report any cash amount that might be included on the new line in the Schedule D – Verification.

Financial clients can read the entire article on Lifeline.

Connie Jasper Woodroof

NAIC Liaison - Connie Jasper Woodroof

NAIC Liaison

Connie is a seasoned statutory accountant and educator who serves at the NAIC Liaison for StoneRiver. She regularly attends NAIC meetings to stay abreast of current and anticipated changes in regulatory reporting. Her long-range view and interpretation of the trends is invaluable to clients in applying new requirements, and preparing for anticipated changes.

Connie is active in IASA and is a frequent speaker at IASA Chapter meetings around the country, as well as the IASA's Annual Educational Conference and Business Show.

Prior to joining StoneRiver, Connie was the Financial Reporting Education Coordinator for the NAIC. She came to the NAIC with ten years of experience preparing annual statements in both the Life and P&C industries. Woodroof earned her bachelor's degree in accounting from Ball State University in Muncie, Indiana and holds the designation of FLMI, and a Masters Degree in General Psychology from the University of the Rockies, Colorado Springs, Colorado.