Accounting Standards [S]
A number of authoritative international bodies are exploring possible changes to existing accounting guidance that materially affect the conduct of the insurance business in the United States and elsewhere. NAMIC supports the viewpoint that many of the measures emanating from foreign regulatory bodies, and which are now being considered by the National Association of Insurance Commissioners, appear to be extreme and excessive. NAMIC also supports the notion that accounting standards should vary according to the size of the regulated entity, and that rules and standards that are appropriate for large insurance companies may not be appropriate for smaller companies and vice versa.
Posted: Tuesday, July 03, 2012 8:45:33 AM. Modified: Tuesday, July 17, 2012 9:23:58 AM.
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