Program
2019 Schedule of Events:
October 28 – Fundamentals of Risk Transfer (8:30 AM – 5:00 PM)
Continental Breakfast, Lunch & Cocktail Reception included
8:30 AM – 10:30 AM : Session 1
Introduction and the History of F&I Reinsurance
What is Insurance?
Key elements that make a transaction insurance for tax purposes including risk shifting, risk distributions, common notions of insurance and fortuity.
How it All Works – Terminology and the Flow of Business and Cash
An introduction to fundamental terminology used to describe risk transfer and related activities, how individual contracts work together to transfer risks from customers through various entities ultimately to reinsurance companies, and analysis of cash flow. AO vs. DO programs.
F&I Dealership and Products & Risks
Types of risks a vehicle buyer accepts in buying and financing a vehicle and the F&I protection product industry’s answers to mitigating those risks; definition and illustrations of risk transfer.
10:30 AM – 10:50 AM REFRESHMENT BREAK
10:50 AM – 11:50 AM : Session 2
Dealer Participation in F&I Product Income
A review of the various programs available to participate in the profits from F&I products produced at dealerships.
Reinsurance Programs
NCFC vs. CFC, Purpose of trust account, differences in various program types.
11:50 AM – 12:50 PM LUNCH BREAK
12:50 PM – 3:00 PM : Session 3
Dealer Owned Warranty Company
What is a DOWC and how does it work.
Legal and Regulatory
State and Federal regulation of insurance, reinsurance, and obligor (non‐insurance protections). The role direct writers play in reducing the need for governmental regulatory oversight.
Captive Insurance for Enterprise Risk
ERM Programs and how they may fit with F&I Reinsurance.
Accounting Systems
Take a single contract and show how to account under GAAP, Statutory and IFRS accounting standards.
3:00 PM – 3:10 PM REFRESHMENT BREAK
3:10 PM – 4:00 PM : Session 4
Introduction to Taxation
Tax positions for a U.S. corporation licensed as an insurer or conversion from a controlled foreign corporation to a U.S. taxpayer via §953(d) election. Determining insurance company status for tax purposes—§831(b) and small life insurance company. Non‐controlled foreign corporations.
4:00 PM – 4:10 PM BREAK
4:10 PM – 5:00 PM : Session 5
Introduction to Controlled Groups and Attribution
Corporate Governance and Record Keeping
Review of key records for reinsurance business, Legal cases, IRS Code §845 evolution and impact, front‐commission‐levels issues.
5:00 PM – 6:30 PM NETWORKING COCKTAIL RECEPTION
OCTOBER 29 – Risk Transfer & Taxation (8:30 AM – 5:00 PM)
Continental Breakfast, Lunch & Cocktail Reception included
8:30 AM – 10:00 AM : Session 1
Review of Tax Reform and Impact on Dealer Owned Reinsurance Programs
Recent Tax Changes and Their Impact on NCFC Reinsurance Programs
10:00 AM – 10:20 AM REFRESHMENT BREAK
10:20 AM – Noon : Session 2
IRS Dirty Dozen Listing and Position on Industry
Dirty Dozen Listing, Timing on Guidance, Audits for 831(b) Companies.
SIIA Captive Policy Update
953(d) Election Changes, Issues
IRS Staffing and Approval Process Changes, Original Signature Requirements, How to address a 953(d) election processing errors.
Noon – 1:00 PM LUNCH BREAK
1:00 PM – 2:30 PM : Session 3
Recent Significant Cases: Validus, Avraham, RVI, Wayfair, Syzygy
Limited Warranty and Prepaid Maintenance IRS Treatment and Issues
Taxpayer’s Positions, IRS Reactions and Prognosis.
State Updates Issues
Here come the states and they are looking for income (WA), CA FTB nexus issue and status of case, DOWC/AO Nexus Choice and issues.
2:30 PM – 2:50 PM REFRESHMENT BREAK
2:50 PM – 4:05 PM : Session 4
Brief History of PARC Domiciles
Changes in the TCI
4:05 PM – 4:15 PM REFRESHMENT BREAK
4:15 PM – 5:00 PM : Session 5
2019 Domicile Update
Adrian Corr will provide an update on the current TCI rules and regulatory environment, and comment on revisions under consideration.
Allan Barnes, Delaware Tribe of Indians. The Tribal Domicile is a domestic domicile (a dependent domestic sovereign nation) focused on ARCs for vehicle dealers and similar entities, such as rent-to-own stores, etc. They will discuss the issues that have been raised and addressed over the last year and those still under review.
5:00 PM – 6:30 PM NETWORKING COCKTAIL RECEPTION
October 30 – F&I Industry Trends (8:30 AM – 3:00 PM)
Continental Breakfast & Lunch included
8:30 AM – 10:20 AM : Session 1
Executive Panel – Hot Topics in the F&I Industry
What Keeps You up at Night? Panel to discuss current F&I issues and hot topics. GAP issues (too many), GM disclosure, new products.
Federal Regulatory Update
Consumer Financial Protection Bureau, Military Lending Act, Wayfair
GAP Regulatory Trends/Legal Update
VSC Regulatory Trends/Legal Update
10:20 AM – 10:40 AM REFRESHMENT BREAK
10:40 AM – 12:25 PM : Session 2
Products and Lobbying Interests
Mergers and Acquisitions
Investment Market Update
12:25 PM – 1:25 PM LUNCH BREAK
1:25 PM – 2:55 PM : Session 3
Investment Restrictions – The Reality of Reinsurance Investment Options
What is a typical investment portfolio for a trust account? Restricted investments? Loans?
GAP Risk Evolution
Recent Industry Loss and Refund Trends
VSC Risk Evolution
Recent Industry Loss and Refund Trends

 

Program Material from the 2018 Conference is available for download for 2018 conference attendees on the following password protected webpage: http://fandi-conference.com/document-download/
*Password was sent to all conferences attendees prior to the conference.

Conference delivery method: Group: Live

Program Levels

Day 1: Basic

Prerequisites: None Required

Day 2‐3: Intermediate

Prerequisites: Attendees should include insurance professionals and administrators, risk managers, tax professionals, and consultants or attendance on Day One

GPW and Associates, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org