FASB Issues Discussion Paper on Insurance Contracts
As part of its joint project with the IASB, the FASB issued a discussion paper (DP) last Friday soliciting input on a recently issued IASB exposure draft (ED). According to the FASB’s news release, the ED proposes:
[An] international financial reporting standard that would apply to all insurance contracts written by both insurance companies and noninsurance companies. The FASB Discussion Paper asks stakeholders to provide input about the following:
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The news release and the DP are available on the FASB’s Web site.
Watch for an upcoming Deloitte Heads Up newsletter on the DP.