July 21-24, 2025, 11:00-4:45pm ET
July 25, 2025, 11:00-3:30pm ET
Learn how to prepare the P&C Annual Statement. This comprehensive course covers the fundamentals of the P&C industry and the relevant statutory accounting concepts. Accounting as well as reporting is addressed for premiums, expenses, losses, LAE, reinsurance and investments. A detailed discussion of Schedule P is also covered. Virtually every page, exhibit, and schedule will be addressed. Class participation and discussion will leverage a completed P&C Annual Statement.
Tuition includes PDF access to the P&C Annual Statement Handbook, a $875 value.
Who Should Attend: Individuals responsible for, or interested in, the preparation or review of the Annual Statement. Those interested in a more concise survey of the P&C Annual Statement should consider P&C Overview of Statutory Financial Reporting.
Prerequisites and Advance Preparation: None
Program Level: Basic
Field of Study: Accounting
- Identify the unique characteristics of the P&C industry
- Identify the elements of the overall framework of statutory accounting principles and concepts
- Identify the structure of the NAIC Annual Statement
- Apply the accounting and reporting requirements for premiums, losses, and expense
- Distinguish between the valuation rules applicable to invested assets
- Distinguish between types of reinsurance and prepare Schedule F
- Develop loss reserves and prepare Annual Statement Schedule P
- Prepare the primary financial statement pages 2 through 5
- Develop the Notes to Financial Statements
- Understand the remaining pages in the Annual Statement and miscellaneous filings