Revenue Changes for Insurance Brokers

Thoughtware Article Published: Oct 25, 2018
People going over paperwork

Insurance brokers will see a change in revenue recognition after adopting Accounting Standards Update 2014-09, Revenue from Contracts with Customers, which is now effective for public entities. The effect on each broker will vary depending on existing income sources and customer base. Read on to see which items in the new model will have the greatest effect on insurance brokers.


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