NAIC.SSAP-66 - Revision history

Graham at 14:06, 28 November 2025

2025-11-28T14:06:31Z

2024-07-25T18:15:27Z

2024-06-26T12:55:01Z

2024-06-26T11:00:08Z

2024-06-25T12:12:56Z

2024-06-09T18:21:36Z

‎Paragraph 13

2023-12-11T21:08:22Z

2023-06-11T18:32:03Z

2022-06-11T17:29:16Z

‎Study Tips

2021-10-28T00:25:12Z

‎Paragraph 13

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 '''Author''': National Association of Insurance Commissioners, Accounting Practices and Procedures Manual
-[https://www.battleacts6us.ca/vanillaforum6us/categories/naic-ssap-66<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
+[https://battleacts.discourse.group/c/candidates-6u/naic-ssap-66/228<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
 {| class='wikitable' style='background-color: navajowhite;

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 '''Reading''':  Statement of Statutory Accounting Principles 66, “'''Retrospectively Rated Contracts''',” paragraphs 1-5, 7.a., 8, 9.a., and 10-14.
-'''Author''': National Association of Insurance Commissioners, Accounting Practices and Procedures Manual, 2022
+'''Author''': National Association of Insurance Commissioners, Accounting Practices and Procedures Manual
 [https://www.battleacts6us.ca/vanillaforum6us/categories/naic-ssap-66<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
@@ Line 17: / Line 17: @@
 ==Study Tips==
-The CAS syllabus citation for this article is confusing. The syllabus says this is a new reading but it actually isn't. The year of publication for the manual changes each year but the content generally does not. We will let you know if there is a major change.
+The year of publication for the manual changes each year but the content generally does not. We will let you know if there is a major change.
 SSAP-66 covers detailed accounting procedures for <u>retrospectively rated contracts</u>. It's 5 pages long and is organized into 18 paragraphs but only covers the following:

← Older revision		Revision as of 12:55, 26 June 2024
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	[https://www.battleacts6us.ca/vanillaforum6us/categories/naic-ssap-66<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]		[https://www.battleacts6us.ca/vanillaforum6us/categories/naic-ssap-66<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
		+
		+	{\| class='wikitable' style='background-color: navajowhite;
		+	\|-
		+	\|\| '''BA Quick-Summary''': <span style="color: green;>'''Accounting Principles - Retrospectively Rated Contracts'''</span>
		+	* SSAP-66 establishes accounting principles for '''retrospectively rated contracts'''.
		+	* These contracts calculate final premiums '''based on the insured's loss experience''', leading to adjustments for additional or return premiums.
		+	* SSAP-66 outlines methods for '''estimating these adjustments''', treatment of related assets and liabilities, and the necessary disclosures for financial statements.
		+	\|}

	==Pop Quiz==		==Pop Quiz==

← Older revision		Revision as of 11:00, 26 June 2024
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	'''Author''': National Association of Insurance Commissioners, Accounting Practices and Procedures Manual, 2022		'''Author''': National Association of Insurance Commissioners, Accounting Practices and Procedures Manual, 2022
		+
		+	[https://www.battleacts6us.ca/vanillaforum6us/categories/naic-ssap-66<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]

	==Pop Quiz==		==Pop Quiz==

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-'''Reading''': Accounting Practices and Procedures Manual, 2019, Statement of Statutory Accounting Principles 66, “Retrospectively Rated Contracts,”
+'''Reading''':  Statement of Statutory Accounting Principles 66, “'''Retrospectively Rated Contracts''',” paragraphs 1-5, 7.a., 8, 9.a., and 10-14.
-'''Author''': NAIC
+'''Author''': National Association of Insurance Commissioners, Accounting Practices and Procedures Manual, 2022
 ==Pop Quiz==

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 :* calculation of non-admitted retrospective premium
-About the last disclosure regarding non-admitted retrospective premium: This topic is discussed in '''paragraph 10''' but it is very detailed and involves things like an insured's credit rating and the likelihood of non-collectability of additional premium. I felt that discussion was too detailed to include in the wiki, but you should be aware that not all accrued retrospective premium is admitted and that the non-admitted amount must be disclosed in the notes to the financial statements. <span style="color: green;">''(shout-out to AB!)''</span>
+About the last disclosure regarding non-admitted retrospective premium: This topic is discussed in '''paragraph 10''' but it is very detailed and involves things like an insured's credit rating and the likelihood of non-collectability of additional premium. I felt that discussion was too detailed to include in the wiki, but you should be aware that not all accrued retrospective premium is admitted and that the non-admitted amount must be disclosed in the notes to the financial statements.
 That's it. We're done! <span style="font-size: 20px;">&#128562;</span>

← Older revision		Revision as of 21:08, 11 December 2023
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−	~~{\| class='wikitable' style='background-color: navajowhite;'~~
−	\|-
−	~~\|\| <span style="color: green;">'''Updates for 2023-Fall are COMPLETE:''' <span style="color: black;">No material changes.</span></span>~~
−	\|}
−
	'''Reading''': Accounting Practices and Procedures Manual, 2019, Statement of Statutory Accounting Principles 66, “Retrospectively Rated Contracts,”		'''Reading''': Accounting Practices and Procedures Manual, 2019, Statement of Statutory Accounting Principles 66, “Retrospectively Rated Contracts,”

← Older revision		Revision as of 18:32, 11 June 2023
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		+	{\| class='wikitable' style='background-color: navajowhite;'
		+	\|-
		+	\|\| <span style="color: green;">'''Updates for 2023-Fall are COMPLETE:''' <span style="color: black;">No material changes.</span></span>
		+	\|}
		+
	'''Reading''': Accounting Practices and Procedures Manual, 2019, Statement of Statutory Accounting Principles 66, “Retrospectively Rated Contracts,”		'''Reading''': Accounting Practices and Procedures Manual, 2019, Statement of Statutory Accounting Principles 66, “Retrospectively Rated Contracts,”

← Older revision		Revision as of 17:29, 11 June 2022
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	==Study Tips==		==Study Tips==
		+
		+	The CAS syllabus citation for this article is confusing. The syllabus says this is a new reading but it actually isn't. The year of publication for the manual changes each year but the content generally does not. We will let you know if there is a major change.

	SSAP-66 covers detailed accounting procedures for <u>retrospectively rated contracts</u>. It's 5 pages long and is organized into 18 paragraphs but only covers the following:		SSAP-66 covers detailed accounting procedures for <u>retrospectively rated contracts</u>. It's 5 pages long and is organized into 18 paragraphs but only covers the following: