Are Impairment Practices Interrupting Economic Value Creation?
Regulations require that insurers impair an asset if they believe a security is other than temporarily impaired, have information which indicates a loss is likely to occur and the amount of loss can be estimated. The issue is that there is no specific guidance on the definition of what constitutes other than temporarily impaired (OTTI) and interpretation has been left up to insurance companies, their accountants, and the auditors. In this session we will address timely issues such as statutory vs. GAPP treatment of impairment, the challenges for public vs. private companies, the lack of uniformity of treatment by the auditors and whether or not fair value accounting may be a possible solution. Panelists: David W. Chellgren Vice President Conning Mark Trench Project Manager FASB Neal Dykes Managing Director PricewaterhouseCoopers LLC 2:15 – 2:45 pm SPEAKER PRESENTATION: The Economic Outlook and Implications for Insurance Investments Insurance investment strategy is planned and played ou
