Introduction to Insurance Compliance
April 24, 2012, NYC
Registration Fee: US$995.00 Register Instructor Location
Many classes sell out; we suggest registering at least two weeks in advance to ensure your seat.
Basic Level, 7 CPE Credits
Instructor: Kim Estrada, JD, MBA, CAMS
Hours: 9:00 am - 5:00 pm; Registration/Breakfast begins at 8:30 am
NYC Location: Bayards, One Hanover Square (Financial District)
Objectives:
- Describe the features and characteristics regarding industry products
- Describe the interaction between the product provider and regulatory agencies
- Develop an understanding regarding the impact to business units (operations) in light of compliance requirements
Assumptions:
- This is an introductory course where the course participants will have little to no knowledge of the subject matter
- There is no pre course reading
Session 1: Overview of Industry Products
The opening session introduces the basic products offered in today’s market. Participants will categorize the different products and review in light of the relevant regulatory compliance requirements. By the end of this session the course participants will be able to:
- Define products
- Fixed and Separate Account
- Define who can offer the products
- Insurance Agents and Brokers
- Define which regulators oversee specific aspects of the products
- DOI
- SEC-FINRA
- IRS
Session 1A: Overview of Industry Products Roundtable
Participants participate in case study/roundtable discussions to confirm their understanding of Session One.
Session 2: The Regulatory Goulash-Who Regulates Us?
Review the defined U.S regulators and discuss on a high level the basic regulatory process. By the end of this session the course participants will be able to:
- Describe the regulator interaction process
- Describe regulatory annual requirements
- Describe the cross over issues
Session 2A: The Regulatory Goulash-Roundtable
Participants participate in case study/roundtable discussions to confirm their understanding of Session Two.
Session 3: Compliance Fundamentals – Part One
Review the basic day to day compliance requirements by rule and regulatory agency. By the end of this session the course participants will be able to:
- Define basic registration requirements
- Define books and records requirements
- Define privacy requirements
Session 3A: Compliance Fundamentals - Part One
Participants participate in case study/roundtable discussions to confirm their understanding of Session Three Part One.
Session 4: Compliance Fundamentals – Part Two
Continue to review the basic day to day compliance requirements by rule and regulatory agency. By the end of this session the course participants will be able to:
- Define basic fraud reporting requirements
- Define basic AML reporting requirements
- Define revenue reporting requirements
Session 4A: Compliance Fundamentals – Part Two
Participants participate in case study/roundtable discussions to confirm their understanding of Session Four Part Two.
Session 5: Compliance Challenges in the 2011-2012 Climate
Identify the impact to the industry in light of the current regulatory climate. By the end of this session the course participants will be able to:
- Identify Dodd-Frank impact to the industry
- Identify banking sector impact
- Identify regulations on the horizon
Session 6: Putting it all together
Identify the compliance issues affecting business units (operations) in light of the day’s discussions. By the end of this session the course participants will be able to address compliance issues regarding:
- Product offerings
- Application process
- Funding obstacles
- On-going business relationships