Comment Letter on Exposure Draft-Insurance Contracts
VerifiedAdded on 2023/04/22
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AI Summary
Michael Monahan, Director of Accounting Policy at ACLI, provides a comment letter on Exposure Draft-Insurance Contracts. The letter highlights critical issues that need to be addressed before a final standard can be achieved. The issues include scope, unbundling, margins, time value of money, incremental acquisition costs, reinsurance, presentation, and transition. The letter also includes a set of examples prepared to understand the different margin approaches and the ACLI's response to questions 4-6 regarding which margin approach should be adopted.
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