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Articles with the keyword "insurance"

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Blackman's Insurance Group Exhibits at NAMIC's 115th Annual Convention

The NAMIC Annual Convention and Exhibit Show, taking place September 19-22 in San Diego, California is THE place where the industry comes together!Join us at Booth #406 to meet the Blackman Kallick Insurance team and learn how new accounting…

2010 Insurance Conference

Date: Thursday, November 4, 2010Time: 8:00 am - 5:00 pmLocation: The Standard Club, 320 S. Plymouth Court, 2nd FloorChicago, IL 60604Cost: $150Register here. (Deadline is October 18, 2010)Event code: 56N7T6G9ECZSponsorship Information.Don't miss this unique opportunity to discuss hot topics impacting…

Metra Selects Blackman Kallick to Perform Risk Assessment and Financial Control Study

From Metrarail.com.The Metra Board of Directors at its June 11 meeting hired the accounting firm of Blackman Kallick to undertake an independent risk assessment and to provide advice to the board on governance, financial controls and oversight.Blackman Kallick will assess…

Senator Dodd's Financial Reform Bill Includes Provisions for Regulation of Reinsurance and Surplus Lines

The following article summarizes the current activity surrounding possible regulation of Reinsurance and Surplus Lines Insurance as contained in Senator Dodd’s bill. In an environment where federal regulation to avoid future bail outs is the order of the day, it’s…

Blackman Insurance Team Exhibits at IASA 2010 Annual Conference

View photos from this event on Flickr.The IASA 2010 Annual Educational Conference and Business show, taking place June 6-9, 2010 in Grapevine, Texas, provides most comprehensive educational program and business show targeted for financial and technology professionals in the insurance…

Dertz and Rouse Present "Fraud in the New Economic Environment, Recent Audit and Accounting Pronouncements"

Jeff Dertz, Partner, and Andrew Rouse, Manager, both from Blackman's Insurance group, will present "Fraud in the New Economic Environment, Recent Audit and Accounting Pronouncements" to attendees of the 2010 Delta Dental Underwriting/Actuarial and CFO Roundtable.The roundtable takes place April…

Youngren Presents at 22nd Annual Insurance Tax Seminar

Doug Youngren, Partner in Blackman Kallick's Insurance group, will serve as a panelist at the 22nd Annual Insurance Tax Seminar taking place June 3-4, 2010 in Washington, D.C.Joining Doug on the "Hot Issues in Accounting for Taxes" panel are Joe…

Preparing Your Organization for Risk, Threats and Opportunities: The Importance of Enterprise-Wide Risk Management (ERM) Education

This article points out how ERM can address both strategic and operational issues. While ERM is often thought of as a different way to look at risk management, the author elaborates on how ERM enhances overall decision making, improves acceptance…

Benefits of Membership in the Federal Home Loan Bank System

We often read articles that are interesting, but have little practical application related to the problems our clients face. This article however, has both. For insurance companies that are experiencing cash flow issues, the following article may provide valuable assistance.…

Youngren and Dertz Educate Insurance Companies on SSAP No. 10R

Doug Youngren and Jeff Dertz, Partners in Blackman's Insurance Group, hosted a webinar on Thursday, February 11 at Noon CST on the implications of SSAP No. 10R.Participants will gain practical knowledge concerning the revision to the statutory deferred tax rules…

NAIC Adopts Temporary Changes to SSAP 10

Listen to or download the February 11, 2010 SSAP No. 10R webinar recording.At the winter meeting in San Francisco, California on December 5–9, 2009, the National Association of Insurance Commissioners (NAIC) adopted changes to Statutory Statement of Accounting Principles (SSAP)…

Risk-Focused Exams for Reinsurance: What's Going On?

Beginning in 2010, state insurance examiners will be conducting “Risk-Focused Examinations” per the new Financial Condition Examiners Handbook. This is a revised approach to the exam as examiners will be concentrating on reviewing a company’s procedures and internal controls over…

SSAP 43R-Revised Loan-Backed and Structured Securities

On September 14, 2009, the Statutory Accounting Principles Working Group adopted SSAP 43R, which provides guidance on recording other-than temporary impairments (OTTIs) on loan-backed and structured securities. The new pronouncementwill supersede SSAP 98, “Treatment of Cash Flows When Quantifying Changes…

Insurance SAS 70: A Move Toward Action in Governance

In this era of heightened compliance and governance, an insurance organization’s ongoing assessment of its internal control structure and effectiveness is a critical business initiative. Many leaders within the insurance industry have concluded that setting the proper tone at the…

Dertz Quoted in “Cyber Attackers Empty Business Accounts in Minutes” Article Syndicated Online

In his “Cyber Attackers Empty Business Accounts in Minutes” article, syndicated by the IDG News Service, Robert McMillian interviewed Blackman Kallick Tax Partner, Jeff Dertz, on the growing threat of ACH fraud. Fraudsters are taking advantage of the widely used…

FDIC Policy Changes Offer Insurers Added Protection

Katherine Duckworth, Vice PresidentCitibank, N.A. Commercial Business Groupkathy.duckworth@citi.com, 312-­­­627-5024 With today’s economic conditions, everyone is worried about the safety and soundness of their financial assets. This concern has made commercial and consumer banking customers nationwide increasingly aware of the significant…

ACH: The New Wave of Bank Fraud

Jeffery A. Dertz, CPAPartner, Insurance Practice jdertz@BlackmanKallick.com, 312-980-3224This Blackman Kallick article was published some time ago, but it has taken on new relevance in light of the changes in the U.S. economy and the corresponding increase in online fraud. The Automated…

Baer Speaks at NAMIC Financial Focus Seminar

Steve Baer, Senior Manager, presented at the NAMIC Financial Focus Seminar held in Houston, May 17–19, 2009. In the presentation, "Overview of the New Model Audit Rule," he discussed why all companies will feel the effects of the new internal…

Blackman Sponsors IAIR Annual Insolvency Workshop

Once again, Blackman Kallick is a proud sponsor of the IAIR Insolvency Workshop, which was held in Tampa, Florida, January 21–23, 2009. The workshop included a program of panelists, speakers and networking events to discuss the current trends and issues…

Winning the Pricing War Against Industry Giants: Offensive Strategies for Regional Insurers

Chris Hurst Towers Perrin chris.hurst@towersperrin.com, 314-719-5846 Klayton Southwood Towers Perrin klayton.southwood@towersperrin.com, 309-828-8351 Gone are the days of pricing personal auto insurance using only "traditional" rating variables such as driver age, gender, marital status and vehicle use. More than a decade…

What Is the Value of Financial Planning to an Insurance Enterprise?

In some respects, financial planning for an insurance company is like running a manufacturing assembly line. As long as people work ahead of themselves, things tend to go smoothly. Assembly line workers run into trouble when they try to manage…

FAS 157 Changes Fair Value Definition, Measurement and Disclosure

Jeffery A. Dertz, CPAPartner, Insurance Practicejdertz@BlackmanKallick.com, 312-980-3224In September 2006, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" (FAS 157). This new standard is effective for fiscal years beginning after Nov. 15,…

Changes to the Model Audit Rule and the Impact on Insurance Companies

With the advent of the new Model Audit Rule, Sarbanes-Oxley-like provisions will now impact the internal control requirements of many insurance companies. Insurance companies will need to spend considerable time and resources in an effort to comply. Additionally, the changes…

Blackman Kallick Sponsors the Society's Insurance Conference

Blackman Kallick is proud to sponsor the Illinois CPA Society's Insurance Conference on October 21, 2008. This year's conference will include the following sessions: Reinsurance Update, Enterprise Risk Management, an Illinois State Insurance Regulations Update and Attracting and Retaining Talent,…

Has Your Mutual Insurance Company Gone Public? You Could Get a Tax Refund on Stock Gains

Mutual life insurance companies are owned solely by their policyholders, who have similar rights—other than the ability to sell the stock—to stockholders in a publicly traded company. Since the mid-1990s, many mutual insurance companies have been undergoing demutualization, a process…


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This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.