# ASC 720-20-45: Other Expenses — Insurance Costs — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/720/20/#45-other-presentation-matters)

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## ASC 720-20-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/720/20/#45-other-presentation-matters)

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### Claims-Made Contracts

##### [720-20-45-1](https://asc.understandingaccounting.org/asc/720/20/#720-20-45-1)

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Unless the conditions of paragraph [210-20-45-1](https://asc.understandingaccounting.org/asc/210/20/#210-20-45-1) are met, offsetting prepaid insurance and receivables for expected recoveries from insurers against a recognized [incurred but not reported](https://asc.understandingaccounting.org/glossary/i/#incurred-but-not-reported "Losses incurred by the insured entity that have not yet been reported to the insurance entity.") liability or the liability incurred as a result of a past insurable event would not be appropriate.