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13 Mar 2024
Steven Strickland Named 2024 APCIA Emerging Leader
Johnson Lambert is proud to announce that Principal Steven Strickland has been recognized as a member of the 2024 Class of Emerging Leaders by the American Property Casualty Insurance Association (APCIA). This prestigious acknowledgment highlights high-performing insurance professionals who are […]
21 Oct 2024
Step-by-Step Preparation for IT Regulatory Exam
Key Highlights Preparing for a regulatory examination is a crucial process for any financial institution. These examinations are conducted by state insurance departments in accordance with the National Association of Insurance Commissioners (NAIC) NAIC Financial Condition Examiners Handbook (the handbook). […]
25 Apr 2017
Statutory Basis Financial Statements Say So Long to GAAP Loss Disclosures
The implementation date for the newly required loss disclosures for insurance company GAAP financial statements (ASU 2015-09) is fast approaching for non-public companies. However, we have been in a holding pattern wondering if statutory filers would be required to include […]
10 May 2018
South Carolina Becomes First State to Adopt NAIC Insurance Data Security Model Law
On May 3, 2018, South Carolina’s governor, Henry McMaster, signed the South Carolina Insurance Data Security Act. This makes South Carolina the first state to adopt the NAIC Insurance Data Security Model Law. The law will go into effect on […]
10 Dec 2019
Solidified Implementation: Deadlines have Arrived!
As a result of implementation challenges faced by companies adopting certain major new accounting standards, the FASB issued two Accounting Standards Updates (ASUs) to defer the effective dates of four ASU’s: 2019-09, Financial Services—Insurance: Effective Date 2019-10, Financial Instruments — […]
28 Nov 2022
Snapshot Summary of GAAP Lease Accounting for Lessees
In Accordance with ASC 842 Background A lease is a contract whereby a lessor (owner or landlord) agrees to provide a lessee (user or tenant) the right to control the use of an identified asset for a specific period of […]