OasisLMS

This two-part session will cover an introduction of the general insurance tax concepts for life and property & casualty insurance companies. Topics covered include the taxation for premiums, investments, reserves and premium acquisition costs. We plan for this session to be interactive, include audience examples and polling questions. Target audience for this session includes those new to the insurance industry and those needing a refresher on the basics of insurance taxation post Tax Cuts & Jobs Act.

-Identify relevant sections of the Internal Revenue Code applicable to insurance companies.
-Understand the statutory accounting framework and its importance to the taxation of insurers.
-Understand the manner in which the Internal Revenue Code delineates tax considerations of life insurers and non-life insurers and the basis for the determination of a company's status.
4. Understand the differences in taxation for life insurers and non-life insurers.
-Identify the differences in the book and tax treatment of policy revenue and expenses.