2012 Insurance Industry Developments
The insurance industry is no stranger to regulation and change over the last several years. With the pace of change in the global economy and regulations, it is difficult for management to stay current on the business trends and developments impacting the insurance industry. As a result, MCM’s insurance services team has developed a newsletter to help insurers stay informed of current and proposed changes impacting insurance companies, reinsurers, captives and agents. Full article…
Affordable Care Act: What now?
American business has not spent much energy preparing for the details of the controversial Patient Protection and Affordable Care Act (Affordable Care Act, PPACA or “The Act”) passed in 2010. The most significant pieces of this legislation will not go into effect until 2013 and 2014 due to the opposition, various elections and the speculation that it would be overturned by the Supreme Court as unconstitutional. The Act may require a culture change in your business given the several strategic issues in the law. Given that The Act is still in place, here are things you should know and consider. Full article…
Insurance Industry Updates: An overview of current topics
In a constantly evolving insurance industry, staying up-to-date with all the latest regulations and guidelines can be crucial for your business. This article provides an overview of some of the significant industry updates heading into the end of 2012, including: audit firm/partner rotation, SOC reports, lease accounting, revenue recognition, IFRS, new ASC DAC guidance, performing internal risk assessment on internal control, and investment strategies in a period of declining interest rates. Full article…
SSAP No. 101: Beyond the numbers
In 2011, the NAIC adopted Statement of Statutory Accounting Principles (“SSAP”) No. 101-Income Taxes, A Replacement of SSAP No. 10R and SSAP No. 10 (“SSAP 101″). This new standard establishes the main objectives for income tax accounting and determining the amount of admissible deferred taxes. Full article…
Middle Market Companies Show Interest in Captive Insurance
Interest in captive insurer arrangements among middle-market insurance buyers is booming as the traditional insurance market hardens for certain lines of casualty coverage, captive experts say. Full article…
Private and Public Companies Report Rise in Audit Fees in 2011
Total external audit fees paid by companies rose in 2011, according to a poll of more than 270 executives. Private companies reported a 7% increase, and publicly held companies reported a 5% increase in external audit fees paid, according to the 2012 Audit Fee Survey, which was conducted by the research arm of Financial Executives International (FEI). Full article…
