# ASC 944-10-15: Financial Services—Insurance — Overall — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/944/10/#15-scope-and-scope-exceptions)

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## ASC 944-10-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/944/10/#15-scope-and-scope-exceptions)

SEC content: no

#### Overall Guidance

##### [944-10-15-1](https://asc.understandingaccounting.org/asc/944/10/#944-10-15-1)

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The Subtopics within the Financial Services—Insurance Topic provide only incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Sections of the individual Financial Services—Insurance Subtopics. Entities within the scope of this Topic shall also comply with the applicable guidance not included in this Topic.

#### Entities

##### [944-10-15-2](https://asc.understandingaccounting.org/asc/944/10/#944-10-15-2)

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The guidance in the Financial Services—Insurance Topic applies to all of the following entities:

1.  a
    
    Life and health insurance entities, including both:
    
    1.  1
        
        Stock life insurance entities
        
    2.  2
        
        Mutual life insurance entities.
        
2.  b
    
    [Property and liability insurance entities](https://asc.understandingaccounting.org/glossary/p/#property-and-liability-insurance-entity "An entity that issues insurance contracts providing protection against either of the following: Damage to, or loss of, property caused by various perils, such as fire and theft Legal liability resulting from injuries to other persons or damage to their property. Property and liability insurance entities also can issue accident and health insurance contracts. The term property and liability insurance entity is the current terminology used to describe a fire and casualty insurance entity. Property and liability insurance entities may be either stock or mutual entities.") (also known as property and casualty insurance entities), which include all of the following entities:
    
    1.  1
        
        Stock entities
        
    2.  2
        
        Mutual entities.
        
    3.  3
        
        [Paragraph not used](https://asc.understandingaccounting.org/updates/page-1833002/).
        
3.  c
    
    [Title insurance entities](https://asc.understandingaccounting.org/glossary/t/#title-insurance-entity "An entity that issues title insurance contracts to real estate owners, purchasers, and mortgage lenders, indemnifying them against loss or damage arising out of defects in, liens on, or challenges to their title to real estate.")
    
4.  d
    
    [Assessment entities](https://asc.understandingaccounting.org/glossary/a/#assessment-entities "An insurance entity that sells insurance to groups with similar interests, such as church denominations or professional groups. Some assessment entities also sell insurance directly to the general public. If funds are not sufficient to pay claims, then assessments may be made against members.")
    
5.  e
    
    Fraternal benefit societies
    
6.  f
    
    [Mortgage guaranty insurance entities](https://asc.understandingaccounting.org/glossary/m/#mortgage-guaranty-insurance-entity "An insurance entity that issues insurance contracts that guarantee lenders, such as savings and loan associations, against nonpayment by mortgagors.")
    
7.  g
    
    Financial guaranty insurance entities
    
8.  h
    
    Pools other than public-entity risk pools
    
9.  i
    
    Syndicates
    
10.  j
     
     Captive insurance entities
     
11.  k
     
     [Reinsurance](https://asc.understandingaccounting.org/glossary/r/#reinsurance "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.") entities
     
12.  l
     
     [Reciprocal exchange](https://asc.understandingaccounting.org/glossary/r/#reciprocal-exchange "A group of persons, firms, or corporations commonly referred to as subscribers that exchange insurance contracts through an attorney-in-fact.") or [interinsurance exchange](https://asc.understandingaccounting.org/glossary/i/#interinsurance-exchange "See Reciprocal Exchange.").