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Insurance Proposals Make IASB-FASB Meeting Agenda

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Insurance contract disclosures and insurance contract risk adjustment techniques are some of the topics likely to come up next week at a major accounting standards meeting.

The International Accounting Standards Board (IASB), London, and the Financial Accounting Standards Board (FASB), Norwalk, Conn., have put a collection of four major papers on the agenda for a standards meeting set to start Monday in London.

Some issues that are still open include how insurers should choose the discount rates they use to value insurance contract liabilities, how to treat insurance arrangements that include financial guarantees, and unbundling of any derivatives embedded in an insurance contract.

Other topics on the IASB-FASB meeting agenda include accounting for leases, accounting for asset impairment, and the tension between hedge accounting and financial risk management.

- Allison Bell

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