{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/340/30/#45-other-presentation-matters","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"340","topic_title":"Other Assets and Deferred Costs","subtopic":"340-30","subtopic_title":"Insurance Contracts That Do Not Transfer Insurance Risk","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Deposit Asset and Liability","paragraphs":[{"citation":"340-30-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_677C5FA7-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Deposit assets and liabilities shall be reported on a gross basis, unless the right of offset exists as defined in Subtopic <a altsource=\"GUID-0C26A25C-9170-4594-9E2E-7186B8F8CD1B.ditamap\" class=\"ditamap\">210-20</a>. The accounting by the insured and insurer are symmetrical, except as noted in paragraphs <div class=\"xref-range displayInline\"><a href=\"/asc/340/30/#340-30-35-6\" class=\"xref\">340-30-35-6 through 35-7</a></div>. </span></span> </div> </div>","snippet":"Deposit assets and liabilities shall be reported on a gross basis, unless the right of offset exists as defined in Subtopic 210-20. The accounting by the insured and insurer are symmetrical, except as noted in paragraphs…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:20c21e10ab24caf5499fbcdef06e04e3ce5b516534e5d2b390618bd2472891a0","downloaded_from":"2026-09-09T23:55:57.511Z","last_downloaded_at":"2026-09-09T23:55:57.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483081","source_sha256":"3e15b268e7092478fd2a4836919dc47cfe375d24bf01db88d56e7608a6526e35"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:59f74e7b0072b7b382af62d68f2fa0f62ce8529626c83c66c5d7f92715c0cd3c","downloaded_from":"2026-09-09T23:55:57.511Z","last_downloaded_at":"2026-09-09T23:55:57.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483081","source_sha256":"3e15b268e7092478fd2a4836919dc47cfe375d24bf01db88d56e7608a6526e35"}},{"block":null,"heading":"Insurance and Reinsurance Contracts that Transfer Only Significant Timing Risk and Insurance and Reinsurance Contracts that Transfer Neither Timing nor Significant Underwriting Risk","paragraphs":[{"citation":"340-30-45-2","para":"45-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_677C60B6-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Changes in the carrying amount of the deposit shall be reported as interest income or interest expense. </span></span> </div> </div>","snippet":"Changes in the carrying amount of the deposit shall be reported as interest income or interest expense.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03b1b01cf993a6efde6ee0fcb29fe1e62c68152201f7eebf422c5a5103f9b6ef","downloaded_from":"2026-09-09T23:55:57.511Z","last_downloaded_at":"2026-09-09T23:55:57.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483081","source_sha256":"3e15b268e7092478fd2a4836919dc47cfe375d24bf01db88d56e7608a6526e35"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e8f6b589497fe90233865ac3ca36832b9a698134c88acdc46f10df957dd87db","downloaded_from":"2026-09-09T23:55:57.511Z","last_downloaded_at":"2026-09-09T23:55:57.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483081","source_sha256":"3e15b268e7092478fd2a4836919dc47cfe375d24bf01db88d56e7608a6526e35"}},{"block":null,"heading":"Insurance and Reinsurance Contracts that Transfer Only Significant Underwriting Risk","paragraphs":[{"citation":"340-30-45-3","para":"45-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_677C619F-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Changes in the recorded amount of the deposit, other than the unexpired portion of the coverage provided, arising from an insurance or <a href=\"/glossary/r/#reinsurance\" class=\"term\" title=\"A transaction in which a reinsurer (assuming entity), for a consideration (premium), assumes all or part of a risk undertaken originally by another insurer (ceding entity). For indemnity reinsurance, the legal rights of the insured are not affected by the reinsurance transaction and the insurance entity issuing the insurance contract remains liable to the insured for payment of policy benefits. Assumption or novation reinsurance contracts that are legal replacements of one insurer by another extinguish the ceding entity's liability to the policyholder.\"><span>reinsurance</span></a> contract that transfers only significant <a href=\"/glossary/u/#underwriting-risk\" class=\"term\" title=\"The risk arising from uncertainties about the ultimate amount of net cash flows from premiums, commissions, claims, and claim settlement expenses paid under a contract.\"><span>underwriting risk</span></a> shall be recorded in an insured's income statement as an offset against the loss recorded by the insured that will be reimbursed under the insurance or reinsurance contract and in an insurer's income statement as an incurred loss. </span></span> </div> </div>","snippet":"Changes in the recorded amount of the deposit, other than the unexpired portion of the coverage provided, arising from an insurance or reinsurance contract that transfers only significant underwriting risk shall be recor…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1eafb3d39b019ca11bed8114427713ae56413ac8b66749bb54fd2ad7e524916c","downloaded_from":"2026-09-09T23:55:57.511Z","last_downloaded_at":"2026-09-09T23:55:57.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483081","source_sha256":"3e15b268e7092478fd2a4836919dc47cfe375d24bf01db88d56e7608a6526e35"}},{"citation":"340-30-45-4","para":"45-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_677C626A-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Insurance entities shall record the reduction in the deposit related to the unexpired portion of the coverage provided as an adjustment to incurred losses. </span></span> </div> </div>","snippet":"Insurance entities shall record the reduction in the deposit related to the unexpired portion of the coverage provided as an adjustment to incurred losses.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2ca6ba142f60cb4f0719ce5ede2cc0920977648a298c61c8778f460924e11657","downloaded_from":"2026-09-09T23:55:57.511Z","last_downloaded_at":"2026-09-09T23:55:57.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483081","source_sha256":"3e15b268e7092478fd2a4836919dc47cfe375d24bf01db88d56e7608a6526e35"}},{"citation":"340-30-45-5","para":"45-5","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_677C63C3-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">If the insured is an entity other than an insurance entity, the reduction in the deposit related to the unexpired portion of the coverage provided shall be recorded as an expense. </span></span> </div> </div>","snippet":"If the insured is an entity other than an insurance entity, the reduction in the deposit related to the unexpired portion of the coverage provided shall be recorded as an expense.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2db9f64e4fab075b64853a18e0278fe122053a773f8fd65f6a2829a56f7a92ba","downloaded_from":"2026-09-09T23:55:57.511Z","last_downloaded_at":"2026-09-09T23:55:57.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483081","source_sha256":"3e15b268e7092478fd2a4836919dc47cfe375d24bf01db88d56e7608a6526e35"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:887b7924e61a6a1c5cf5d67c0dd2e5dad1478015c72ad1f58cb95ca3f8367eb0","downloaded_from":"2026-09-09T23:55:57.511Z","last_downloaded_at":"2026-09-09T23:55:57.511Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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