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 Opening Remarks
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 describing risk transfer and related activities.
F&I Dealership and Products and Risks
Identifying the types of risks a buyer accepts when buying and financing a vehicle. The F&I protection product industry’s answers to mitigating those risks including 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.
Dealer 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
Evolution of the Obligor (and DOWC)
What is an Obligor and a DOWC and how do they work.
Legal and Regulatory Concerns
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.
Insurance Bases of Accounting
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). 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
Defining and building an understanding of control groups and attribution as it relates to business ownership structures.
Corporate Governance and Record Keeping
Review of key records for reinsurance business, legal cases, IRS Code §845 evolution and impact.
5:00 PM – 6:30 PM NETWORKING COCKTAIL RECEPTION
OCTOBER 29 – Risk Transfer & Taxation (8:10 AM – 5:00 PM)
Continental Breakfast, Lunch & Cocktail Reception included
8:10 AM – 10:00 AM : Session 1
Tax Reform Impacts on Dealer Owned Reinsurance Programs
A look at the 2017 Tax Act and its effects.
Recent Tax Changes Impacting on NCFC Programs
Including proposed PFIC regulatory changes.
10:00 AM – 10:20 AM REFRESHMENT BREAK
10:20 AM – 12:10 PM : Session 2
IRS Dirty Dozen Listing and Position on the Industry
Dirty Dozen Listing, Timing on Guidance, Audits for 831(b) companies.
SIIA Captive Policy Update
IRC §953(d) Election Changes and Issues
IRS Staffing and Approval Process Changes; Original Signature Requirements; How to address a 953(d) election processing errors.
Overview of the 2019 Form BE-10
An update of the BE-10 questionnaire due once every five years by the U.S. Dept of Commerce. 2020 is the next upcoming deadline.
12:10 PM – 1:10 PM LUNCH BREAK
1:10 PM – 2:40 PM : Session 3
Recent Significant Tax Court Cases
Avraham, RVI, Syzygy
Limited Warranties and Prepaid Maintenance as Insurance: IRS Treatment and Issues
Taxpayer’s Positions, IRS Reactions and Prognosis.
2:40 PM – 3:00 PM REFRESHMENT BREAK
3:00 PM – 4:05 PM : Session 4
State Issues and Developments 2019 Updates
Here come the states and they are looking for income. CA FTB nexus issue and status of case; DOWC/AO Nexus Choice, and Wayfair economic nexus implications.
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
8:25 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 and Wayfair along with other current updates.
GAP Waiver State Regulatory and Legislative Update
VSC State Regulatory and Legislative Update
10:20 AM – 10:40 AM REFRESHMENT BREAK
10:40 AM – 12:10 PM : Session 2
State Lobbying
CCIAs lobbying efforts at a state level.
Investment Market Update
Economic conditions, forecasts and drivers in the current market and in the auto industry.
12:10 PM – 1:10 PM LUNCH BREAK
1:10 PM – 3:00 PM : Session 3
Investments in F&I Reinsurance
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 2019 Conference is available for download for 2019 conference attendees on the following password protected webpage: http://fandi-conference.com/docs/
*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.
The F&I Reinsurance and Product Conference has also partnered with the International Center for Captive Insurance Education (ICCIE) to offer continuing education credits for the ACI and CCI designations. October 28 includes four and October 29 one ICCIE approved presentations.