News

FASB ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts, makes targeted improvements to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts. Kim Kushmerick of the AICPA provides an overview, status updates and implementation issues.  The AICPA Financial Reporting Executive Committee and Insurance Expert Panel are developing working drafts of ASU 2018-12 […]

Erin Mulloy, President of the SIFM and Partner with FSO Assurance, EY presented the SIFM 2020 Scholarship to Todd Fagan at the SIFM Quarterly Conference on December 5, 2019. Ms. Mulloy congratulated Todd for his dedication to his studies in the Risk Management and Insurance program at St. John’s University, as well as for his

Erin Mulloy, President of the SIFM and Partner with FSO Assurance, EY presented the SIFM 2020 Scholarship to Joseph Angelina. Ms. Mulloy congratulated Joe for his dedication to his studies at the Maguire Academy of Insurance and Risk Management at Saint Joseph’s. Erin said, “Joe has been intrigued with the insurance industry since he was

The chief financial officer (CFO) role is being disrupted by digital innovation, the proliferation of data, a volatile risk environment, increasing regulation and a growing circle of demanding stakeholders.  And CFOs are responding to these pressures in different ways. Roles vary depending on the disruptions CFOs and their organizations face, as well as their company,

Brandon Browne, a director in PwC’s SEC Services group, will provide a perspective on the current state of affairs at the SEC.  This includes the tone and direction set by the Chairman of the SEC, Jay Clayton. The discussion will include: recent SEC projects and initiatives newly proposed and adopted rules areas of focus for disclosure

“Why is it that insurance buyers, particularly in middle market businesses, have not yet purchased standalone cyber insurance coverage?” asks Sam Friedman of Deloitte.   He notes that this is despite stories about data breaches, ransomware attacks and other cyber events which are prominently featured in the media. It is also at a time when new

Income tax rules and regulations are constantly changing, and often represent the most complex area of business and personal financial planning. The passage of the 2017 Tax Act significantly altered the individual income tax planning landscape for 2018 and beyond. Almost two years later, aided by regulatory and other guidance, we have completed our initial

Right now, insurers are faced with tough decisions: balancing growth, customer retention, operational efficiencies, legal, regulatory demands and talent. One way to solve many of these issues is by using software. The downside is that software changes so quickly. Charles Mattson of Oracle will delve into the questions to ask as well as the answers

There are many questions that are often on the minds of finance professionals as they prepare messaging for investor calls, management meetings, employee town halls, regulatory and tax reporting and public releases: What story do the numbers tell? How do I get a consistent message across to many interested parties? What actions am I seeking

None of us knows for certain what the future will hold, but we all have a responsibility to be thinking about what’s likely to happen, and to prepare for it. In the finance function, that means working now to get the right people and technology in place to take advantage of the inevitable disruption ahead.