Learn about important topics impacting the insurance industry, including crisis preparedness, fraud and cybersecurity, accounting and regulatory updates, and more.
DESIGNED FOR
CPAs with insurance clients and financial professionals working in the insurance industry
HIGHLIGHTS
This is a two-day conference, 7:45 a.m. to 4 p.m. each day. This conference has been planned by the Pennsylvania Institute of CPAs Insurance Committee.
THURSDAY, DEC. 3
- 7:45 a.m. — Greetings from PICPA Leadership
- 8:00 a.m. — Update on Pennsylvania Insurance Industry Trends
Michael Humphreys, Chief of Staff, Pennsylvania Insurance Department
- The Pennsylvania Insurance Department’s response to the COVID-19 pandemic
- New legislation related to guaranty funds and credit for reinsurance
- Insurance innovation and the role of the PID
- Diversity in insurance
- 8:50 a.m. — Health Insurance in 2020
R. Christopher Raphaely, Chair of Health Law, Cozen O'Connor
- The Affordable Care Act and what's new in 2020
- Value-based payment systems
- Telemedicine
- 9:40 a.m. — Break
- 9:55 a.m. — Crisis Preparedness and Lessons Learned
Jason Rogers, Sr. Vice President, Gallagher Affinity
Kahlil Williams, Associate, Ballard Spahr LLP
Brian Courtney, RPLU,AAI, Vice President, The Safeguard Group Inc.
- Coronavirus and business interruption
- Coverage disputes
- Lessons learned from the virus from a carrier and reinsurer perspective
- 10:45 a.m. — Business Ethics and Corporate Governance: A Double-Edged Sword
Tim Swift, Ph.D., Associate Professor, St. Joseph's University
- What can happen when corporate governance fails and powerful individuals are permitted to act in self-interest
- How corporate governance has changed over the past 30 years
- The costs and benefits of governance reform
- How we shape behavior besides what is written in the Corporate Charter
- 11:35 a.m. — Lunch
- 12:25 p.m. — U.S. GAAP Update
Michael A. Ernst, CPA, Partner, KPMG
Paul C.R. Dayton, CPA, Senior Manager, KPMG
- Long duration insurance contracts
- Change in international insurance accounting standards
- Non-insurance GAAP updates
- CECL and leases – relevance for larger vs. smaller companies
- 2:05 p.m. — Break
- 2:20 p.m. — The Anti-Fraud Playbook
Frederick J. Kohm Jr., CPA, Partner, Forensic Advisory Services, Grant Thornton LLP
- Providing the five-phased approach to building an anti-fraud program
- Case studies that share experiences in insurance and reinsurance
- 3:10 p.m. — Cyber Insurance Coverage
Simon P. Oddy, FCA, CFE, MCIArb, Partner, Baker Tilly
Bernard Regan, MSc, MBCS, Principal, Baker Tilly
- Underwriting, adjusting cyber claims
- How do we run our business with the potential of ransomware?
- 4:00 p.m. — See you tomorrow!
FRIDAY, DEC. 4
- 8:00 a.m. — Transformation of Finance Function
Jonathan Stomberger, CCM, Principal, MAZARS USA LLP
- System implementations
- Clients updating to cloud, transferring of information
- Converting from legacy systems, agile project management
- 8:50 a.m. — Industry Consolidation
John Cristiano, Director, MAZARS USA LLP and Gregory Nelson, Managing Director, Tag Financial Institutions Group
Description TBD
- 9:40 a.m. — Break
- 9:55 a.m. — Statutory Accounting Update
J.D. Stadler, Sr. Manager, EY LLP
Description TBD
- 10:45 a.m. — Innovating the Audit
Rich Lanza, Managing Director, Innovation, Grant Thornton LLP
- How innovation will change how CPAs do their work
- Performing audits from afar
- Changes in the audit
- Working with data
- 11:35 a.m. — Lunch
- 12:25 p.m. — Update on Insurance Taxation
Moderator: John J. Peel, CPA, partner, PwC
Panel:
M. Andrew Prior, Managing Director, PwC
Timothy Peacock, CPA, Partner, PwC
Raheem Spivey, CPA, PwC
Jennifer M. Crothers, VP, Corporate Tax, Radian Group, Inc.
- Overview of key insights around the recent elections and how potential tax policy changes may impact your business
- A tax legislative update including a discussion of recent developments in tax law and accounting for income taxes that may be changing the landscape of life and property and casualty insurance companies
- Insight into the significant changes the insurance sector is preparing themselves for in the years to come
- 2:05 p.m. — Break
- 2:20 p.m. — Industry Trends
Christopher Nyce, Principal, KPMG
Ian Sterling, FCAS, MAAA, Managing Director, KPMG
- What's new in fall 2020
- Reinsurance
- An actuarial update
- 3:10 p.m. — Economic Update
Henry B. Smith, Director/ Co-Chief Investment Officer, The Haverford Trust Company
Description TBD
- 4:00 p.m. — See you next year!
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
“Attending this conference is helpful in keeping up to date with topics that are pertinent to the insurance industry. As an auditor, it is always helpful to know the newest trend and what changes are expected in the future.”
Jan Giannetto, CIA, CFE
United Health Services Inc.