Accounting Standard Updates

12 Days of SSAP (SSAP No. 65, Property and Casualty Contracts)

As the holidays approach, JLK Rosenberger is taking a new perspective on a holiday classic – the Twelve Days of Christmas. Rather than filling your head with turtle doves and gold rings, we are going to instead focus on the latest changes to SSAP and how they will impact your insurance company in 2018 and beyond.

On the 12th day of SSAP JLK Rosenberger told to me – High Deductible Policies.

SSAP No. 65, Property and Casualty Contracts (SSAP 65), was revised to require additional and expanded disclosures for high-deductible contracts. The additional disclosures are to be made by line of business and include disclosures of gross reserves, amounts overdue, collateral and deductible amounts for the highest 10 high deductible policies gross of collateral.

Thank you for joining JLK Rosenberger for the 12 days of SSAP. Happy Holidays!