LOMA and Deloitte's Life Insurance Accounting Courses

Earn 16 CPE credit hours upon completion of either course.

• September 22–25
  Northbrook, IL - Click here for location information
  Statutory Accounting Class: September 22–23
  GAAP Accounting Course: September 24–25
  Register by August 11

  Register Today at:

  • Statutory Accounting Registration (SEPTEMBER) - Chicago/Northbrook
    

  • GAAP Accounting Registration (SEPTEMBER) - Chicago/Northbrook

Quick Reference
Statutory Accounting Course
GAAP Accounting Course
Download the Registration Form
Continuing Professional Education Credit
In-House Workshops
For More Information

About the Statutory and GAAP Accounting Courses
In each course, you’ll experience LOMA & Deloitte’s Life! Simulation, an interactive and fun way to learn the fundamentals of GAAP or statutory accounting for life insurers. There’s simply no other computer-based accounting exercise like it.

During the Life! Simulation, you’ll participate on a simulated life insurance company team and enjoy friendly competition with others in the class.

• You’ll learn practical accounting applications by managing your own team's simulated life insurance company.

• You'll make real-world decisions in accounting for your team's transactions, as well as discover how your team's strategic and tactical business decisions impact financial results.

• You’ll prepare and analyze your team’s financial statements.

Who Should Attend? 
Both courses are recommended for accountants and financial analysts/managers, internal auditors, regulators, insurance consultants and analysts, and other insurance personnel who desire an understanding of life insurance statutory and GAAP accounting.

Statutory Accounting Course
The two-day statutory accounting course teaches the unique methods of accounting, developing financial information and financial reporting used in the life insurance industry and required under statutory rules and regulations. It provides participants with tools to identify and discuss current life insurance statutory accounting practices specific to key financial accounts and the industry's reporting requirements.

The Statutory Accounting course will teach you to:

• Prepare a statutory accounting balance sheet and a statement of operations that are in compliance with the Annual Statement Instructions and NAIC Life and Health Accounting Manual

• Calculate amounts to be included in various general ledger accounts using various management reports relating to product and investment results by applying key statutory and accounting concepts

• Recognize and apply analytical methods to assess the financial position and operations of a life insurance company. Identify impact of statutory accounting principles on such reported amounts

• Implement codification updates into accounting procedures

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GAAP Accounting Course
The two-day GAAP accounting course teaches accountants and financial managers about this method of accounting required by FASB for financial statements developed in conformity with General Accepted Accounting Principles.

The GAAP Accounting course will teach you to:

• Prepare a GAAP balance sheet and a statement of operations that are in compliance with the Generally Accepted Accounting Principles and SEC requirements

• Calculate amounts to be included in various general ledger accounts using an array of management reports relating to product and investment results by applying key GAAP accounting concepts

• Classify various insurance products and apply the appropriate GAAP accounting under respective Statement of Financial Accounting Standard No. 60, 97 or 120

• Recognize and apply analytical methods to assess the financial position and operations of a life insurance company. Identify impact of GAAP accounting principles and reporting requirements on such reported amounts (i.e., revenue recognition)

• Discuss the differences between Generally Accepted Accounting Principles and statutory accounting principles

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Registration Fees

If you register by August 11, each course is:

LOMA Members: $1,395
LIMRA, not LOMA Members: $1,445
Nonmembers: $1,495

If you register after August 11, each course is:

LOMA Members: $1,595
LIMRA, not LOMA Members: $1,645
Nonmembers: $1,695

Hotel & Meeting Details (September Classes)

Chicago/Northbrook
(Early Registration Cutoff is August 11)

Meeting Location
The September classes will be held at Allstate Life, 3100 Sanders Road, West Plaza Bldg., Training Rooms 1-4, Northbrook, IL 60062. Allstate’s campus is approximately seven miles North of O’Hare International Airport.

Below are hotel suggestions. You are responsible for making your own hotel reservation. Please call the hotel for room rates. LOMA does not have a group rate at the hotels below. Please make your hotel reservations early, as hotels may sell out.

Wyndham Glenview Suites
1400 Milwaukee Avenue
Glenview, Illinois  60025
(847) 803-9800

Hilton Chicago/Northbrook
2855 N. Milwaukee Avenue
Northbrook, Illinois  60062
(847) 480-7500

The Westin Chicago North Shore
601 N. Milwaukee Avenue
Wheeling, Illinois  60090
(847) 777-6500

Daily Schedule
Classes will begin at 8:30 a.m. and end at 5:00 p.m.

Transportation
To travel between Allstate’s campus (where the classes will be held) and your hotel, we suggest that you use a rental car or your hotel’s complimentary van (if one is provided). Usually, a hotel’s van is based on availability and can take you within a five mile radius of the hotel. However, a rental car may be your best option, in the event the hotel’s van is not available when you need it. Parking is free at Allstate. Also, please call your hotel about transportation options/prices to and from O’Hare International Airport or Allstate’s campus, directions, parking, etc.

In-House Workshops
As an alternative to attending our public classes in June and September, LOMA and Deloitte offer the statutory class and GAAP class as separate in-house workshops for companies wishing to offer them exclusively to their employees (16 participants or more). Each two-day workshop provides the same training and course content as the public classes.

You’ll gain many advantages of a private, in-house workshop at your office or corporate headquarters including:  

• Save time by selecting training dates that fit your schedule.

• Save money by eliminating seminar travel expenses.

• Gain customized knowledge by using your company’s annual statement and/or 10-K in class.

• Share ideas/questions with Deloitte’s expert instructors who have current life insurance industry experience and who are familiar with the real, day-to-day issues that you face.

• Be more cost-effective by having multiple departments (i.e., internal audit, actuarial, financial analysis/reporting, tax, investments, expense management, etc.) from your other US or international locations attend the in-house workshop at your office.

• Experience LOMA & Deloitte’s highly rated Life! Simulation, which is an interactive and fun way to learn the fundamentals of GAAP or statutory accounting for life insurers, and there’s no other accounting training like it.

• Earn 16 CPE credits per class to help you advance your career.

Dates are limited so please schedule your in-house training dates early.

To discuss having private, in-house workshops at your office or corporate headquarters, please e-mail insops@loma.org or call (770) 984-6446.

Continuing Professional Education Credit
Earn 16 CPE credit hours upon completion of either course.

Intermediate level. No prerequisites or advance preparation required. Delivery method is Group-Live. In accordance with the standards of the National Registry of the CPE Sponsors, CPE credits are based on a 50-minute hour.

LOMA is registered with the National Association of State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417.  Web site: www.nasba.org.  For more information regarding administrative policies such as complaint and refund, please contact our offices at 770-984-6453.

For More Information Contact
Financial and Strategic Services
Phone: 770-984-6446
Fax: 770-984-6418
E-mail: insops@loma.org

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Related Programs and Committees

AIAF: Associate in Insurance Accounting and Finance Program 
(Life Health Track)

Expense Management Committee 

Financial Management and Reporting Committee

LOMA Financial Inforum