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NAIC Focus: NAIC for April

While you were trying to get caught up from the January and February items that were pushed aside because of the March 1 filing deadline, I headed to the Spring NAIC National Meeting in Milwaukee. I have to be honest, I was a little apprehensive about Milwaukee in March. The weather in my home area of Kansas City can be unpredictable in March, and Milwaukee is a lot farther north. My fears were confirmed. IT WAS COLD! And most of the time, it was also very windy, which made it feel even colder. But neither cold nor heat will deter the NAIC Meetings (although once a hurricane did)!

NAIC Focus: NAIC for February

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.

NAIC Focus: NAIC for December

Do statutory accountants get to watch the Super Bowl? The Super Bowl falls in the middle of year-end and many of us work a lot of hours in January and February, including weekends. If you are both a football fan and a statutory accountant, do you make sure to not work that Sunday?

This kind of pondering can only mean one thing; year-end is upon us. In what has now become a tradition, we have put together a checklist that just might make things a little easier. And maybe not. Because if you haven’t started planning for some of this, you may find yourself in a bit of mess.

NAIC Focus: NAIC for August

Have you ever been to Philadelphia in August? It is normally very warm and very humid. But not during the NAIC Summer National Meeting! The weather was wonderful, except the rainy Monday. Many probably do not know that Connie is an architecture buff. Consequently, Philly was a delight for her. Many, many old historical buildings, comingled with more modern and taller buildings. Speaking of architecture, the NAIC was busy remodeling parts of the insurance industry. This issue contains a summary of some of that activity.

NAIC Focus: NAIC for May

Earlier in June the Blanks Working Group met by conference call to finalize the Annual Statement reporting for year-end 2017. Connie provides a look at the activity that occurred during that call. Remember, however, that some adoptions for year-end 2017 have previously been approved. Those items will not be included in this discussion. All changes, however, will be included in the December edition of the NAIC Focus, which provides a year-end checklist for your annual statement preparation.

NAIC Focus: NAIC for May

Time to start planning for the changes being implemented in the 2017 Risk-Based Capital Formulas. The formats are set, although we are still waiting on a few factors to be finalized. Let’s see what is in store.

Financial clients can read the entire article on Lifeline.

NAIC Focus: NAIC for April

Connie admits that she was a bit nervous about an NAIC National Meeting being held in Denver at the beginning of April. Should she take snow boots? Or sandals? A light jacket or a heavy winter coat? Despite the fact that Denver had snow just three days before the beginning of the Meeting, the weather was great. The only snow she saw was on the mountaintops, and the NAIC was business as usual. Here is a day-by-day commentary.

Financial clients can read the entire article on Lifeline.

NAIC Focus: NAIC for March

For most of you, the year-end process is done. Sit back, close your eyes, take a deep breath, hold it, exhale, and open your eyes. Now look at that pile of stuff on your desk that has been accumulating while you worked on year-end. That is what you now have to look forward to and that usually means getting ready for quarter-end. Quarter-end also means new accounting and reporting to implement.

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Connie Jasper Woodroof

NAIC Liaison - Connie Jasper Woodroof

NAIC Liaison

Connie is a seasoned statutory accountant and educator who serves as 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.