# ASC 720-20-50: Other Expenses — Insurance Costs — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/720/20/#50-disclosure)

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## ASC 720-20-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/720/20/#50-disclosure)

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### Claims-Made Contracts

##### [720-20-50-1](https://asc.understandingaccounting.org/asc/720/20/#720-20-50-1)

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When an entity changes from occurrence-based insurance to claims-made insurance or elects to significantly reduce or eliminate its insurance coverage paragraphs

[450-20-50-3 through 50-6](https://asc.understandingaccounting.org/asc/450/20/#450-20-50-3)

require disclosure if it is at least reasonably possible that a loss has been incurred. That paragraph also discusses disclosure with respect to unasserted claims.