Industry Insights

Ready for the New Insurance Disclosures?

February 2017

In 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-09, Financial Services—Insurance (Topic 944):  Disclosures about Short-Duration Contracts, requiring additional disclosures for insurers. The ASU is effective for public business entities for annual reporting periods beginning after December 15, 2015, and interim reporting periods within annual reporting periods beginning after December 15, 2016. For all other entities, the ASU will be effective for annual periods beginning after December 15, 2016, and interim periods within annual periods beginning after December 15, 2017.

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