NAIC Focus keeps you informed of regulatory compliance issues that will impact your accounting procedures. If you are a StoneRiver annual statement client, you can subscribe now to receive an email alert when new articles are posted. Subscribe to the NAIC Focus

If you would like to learn more about StoneRiver's annual statement software, you can read more here or contact us for more information. StoneRiver Financial clients can read the entire article by clicking the link.

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.

NAIC Focus: NAIC for January

Most of you are probably deep into the year-end process and the preparation of your annual statement, meaning you really don’t care about other NAIC activities right now. But the NAIC held their last National Meeting for 2016 December 10-13 and sooner or later you might need to know what happened. So let’s make that happen sooner rather than later. You can always come back and reread this later.

NAIC Focus: NAIC for November

Year-end again?? Are you kidding? Why does year-end always seem to sneak up on us and catch us unprepared? Or at least partially unprepared. Time to think about that process and try to eliminate as many surprises as possible.

Financial clients can read the entire article on Lifeline.

NAIC Focus: NAIC for October

For some time now insurers have seen a myriad of investment accounting and reporting changes. This current trend can be traced back to the financial crises of 2008, perhaps providing us with an understanding of why enhanced reporting and changes in accounting were deemed necessary by insurance regulators at that time and for a period of time thereafter. But we are now eight years out from those particular events and the trend does not seem to be slowing down.

Pages

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.