{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/944/20/#35-subsequent-measurement","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":"944","topic_title":"Financial Services—Insurance","subtopic":"944-20","subtopic_title":"Insurance Activities","section":{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":"Short-Duration Contracts","heading":"Multiple-Year Retrospectively Rated Insurance Contracts","paragraphs":[{"citation":"944-20-35-1","para":"35-1","html":"
As indicated in paragraph 944-20-25-2(a), certain amounts are recognized by the insurer and insured to the extent that the insured has an obligation to pay cash (or other consideration) to the insurer that would not have been required absent the experience under the contract.The amount recognized in the current period shall be computed, using a with-and-without method, as the difference between the insured's total contract costs before and after the experience under the contract as of the reporting date, including costs such as premium adjustments, settlement adjustments, and impairments of coverage. The amount of premium expense related to impairments of coverage shall be measured in relation to the original contract terms. Future experience under the contract (that is, future losses and future premiums that would be paid regardless of past experience) shall not be considered in measuring the amount to be recognized.
","snippet":"As indicated in paragraph 944-20-25-2(a), certain amounts are recognized by the insurer and insured to the extent that the insured has an obligation to pay cash (or other consideration) to the insurer that would not have…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:78dfd59decafce3d2f756802eed5e8846e542256f472204c53371f578276e856","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-2","para":"35-2","html":"
An insurer shall account for changes in coverage in the same manner as changes in other contract costs. For example, the effects of decreases in coverage without a commensurate reduction in premium shall be recognized as a gain by the insurer when the event causing the decrease in coverage takes place.
","snippet":"An insurer shall account for changes in coverage in the same manner as changes in other contract costs. For example, the effects of decreases in coverage without a commensurate reduction in premium shall be recognized as…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9c84c9668abf456cc5df916d8bbcce5dde6e8db06dfbd67d754f783ad4f2248","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b435812379cb5470943f058177c9c56ccbb03a86a6099792d9f2d991519e39d","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"block":"Reinsurance Contracts","heading":"Multiple-Year Retrospectively Rated Contracts by Ceding and Assuming Entities","paragraphs":[{"citation":"944-20-35-3","para":"35-3","html":"
The amount recognized under paragraph 944-20-25-4 in the current period shall be computed, using a with-and-without method, as the difference between the ceding entity's total contract costs before and after the experience under the contract as of the reporting date, including costs such as premium adjustments, settlement adjustments, and impairments of coverage.
","snippet":"The amount recognized under paragraph 944-20-25-4 in the current period shall be computed, using a with-and-without method, as the difference between the ceding entity's total contract costs before and after the experien…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1facf9b8938220ac1f5426a345d2d2da2b58a8645d8bbde15753381a07f394af","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-4","para":"35-4","html":"
The amount of premium expense related to impairments of coverage shall be measured in relation to the original contract terms. Future experience under the contract (that is, future losses and future premiums that would be paid regardless of past experience) shall not be considered in measuring the amount to be recognized.
","snippet":"The amount of premium expense related to impairments of coverage shall be measured in relation to the original contract terms. Future experience under the contract (that is, future losses and future premiums that would b…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0d862d0381bc5884be2aeb127cee8c56a9f145f2aa165a80b508136790f20b77","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-5","para":"35-5","html":"
Example 1 (see paragraph 944-20-55-60) illustrates the application of this guidance.
","snippet":"Example 1 (see paragraph 944-20-55-60) illustrates the application of this guidance.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0be4df6da523ebd991c81ed849fcd9520d52fd8ed92a9023307035393ed5c1e3","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-6","para":"35-6","html":"
The amount of the asset to be recognized may be affected by credit risk, and appropriate valuation allowances shall be established for any amounts deemed uncollectible. However, the ceding entity shall not consider the likelihood of future losses in evaluating whether the asset is realizable at the financial reporting date. The effect of those future losses on the asset, if any, shall be recognized in the period of the loss. Potential future unfavorable development on the incurred losses covered by the contract shall not be considered in measuring the asset at the financial reporting date. The relevant recorded claim liability at that date represents the ceding entity's best estimate of the expected ultimate claim liability, and is the liability that must be used in measuring the refundable amount based on contract experience to date.
","snippet":"The amount of the asset to be recognized may be affected by credit risk, and appropriate valuation allowances shall be established for any amounts deemed uncollectible. However, the ceding entity shall not consider the l…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:22d2879a54aace31c431e0eb4d5ad74142b750fc2f873f624ed89a2958da00d0","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-7","para":"35-7","html":"
Recognizing a smaller asset based on potential unfavorable loss development implies that claim liabilities are understated at the financial reporting date. Accordingly, changes in estimates of claim liabilities shall not be recognized in measuring the related asset until the change in estimate takes place.
","snippet":"Recognizing a smaller asset based on potential unfavorable loss development implies that claim liabilities are understated at the financial reporting date. Accordingly, changes in estimates of claim liabilities shall not…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3303ad6bf9264a9ce2aa46314c4dc76e7dc5811953384878bbd3b244f38b80fc","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-8","para":"35-8","html":"
The remainder of this Subsection addresses the following matters:
  1. a
    Changes in coverage
  2. b
    Loss recognition
  3. c
    With-and-without method
  4. d
    Multiple contingent contractual features
  5. e
    Payment for continuation of contract
  6. f
    Contract cancellation.
","snippet":"The remainder of this Subsection addresses the following matters:\n(a) Changes in coverage\n(b) Loss recognition\n(c) With-and-without method\n(d) Multiple contingent contractual features\n(e) Payment for continuation of cont…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f23170701d570b45989d59d99dafc306de0f862df3aa31e7bcfee5bc78d23a11","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-9","para":"35-9","html":"
The ceding entity and the assuming entity shall account for changes in coverage in the same manner as changes in other contract costs.
","snippet":"The ceding entity and the assuming entity shall account for changes in coverage in the same manner as changes in other contract costs.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:774b6cf977257f46667901b7884dc408b81ef444f73cfce124c1e1203a6e503d","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-10","para":"35-10","html":"
For example, the effects of decreases in coverage without a commensurate reduction in premium shall be recognized as a loss by the ceding entity and as a gain by the assuming entity when the event causing the decrease in coverage takes place.
","snippet":"For example, the effects of decreases in coverage without a commensurate reduction in premium shall be recognized as a loss by the ceding entity and as a gain by the assuming entity when the event causing the decrease in…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1285d74e01f0a6971acf142c29d84bfffd9ae4708b663344ecd803a8580844a0","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-11","para":"35-11","html":"
Changes in either the probability or amount of potential future recoveries are considered a change in coverage. For example, if the contract limit stayed the same, but the ceding entity could not receive any recoveries unless losses for the industry as a whole reached a certain level, coverage has been reduced. What matters is not the specific contract provisions regarding coverage, but whether the probability or amount of potential future recoveries has increased or decreased as a result of those provisions.
","snippet":"Changes in either the probability or amount of potential future recoveries are considered a change in coverage. For example, if the contract limit stayed the same, but the ceding entity could not receive any recoveries u…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8ef6e8cff68034be764fbce1d1772e7698a15c8084256e2bdf35140433be3370","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-12","para":"35-12","html":"
Deposit accounting shall not be used to avoid loss recognition that would otherwise be required; for example, if the ceding entity has no future coverage relating to the deposit with the reinsurer and therefore the deposit is not recoverable.
","snippet":"Deposit accounting shall not be used to avoid loss recognition that would otherwise be required; for example, if the ceding entity has no future coverage relating to the deposit with the reinsurer and therefore the depos…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9650faf06e52effa36c13bbed85dc16e7c5b47227787b75df760047664b054c6","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-13","para":"35-13","html":"
Paragraph not used.
","snippet":"Paragraph not used.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bfbca1549af128b215ee3db3dd2e64a48731fde2e422d80ff162403688e8205e","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-14","para":"35-14","html":"
In some circumstances, the ceding entity will be relieved of its obligation if the reinsurer cancels the contract, and only has to pay additional amounts if either:
  1. a
    The contract remains in force.
  2. b
    The ceding entity cancels before the end of the contract term.
Unless the reinsurer has terminated the contract, the ceding entity has an obligation for the additional amounts and must recognize the related liability. The effect of termination, which is to relieve the ceding entity of its liability, shall not be recognized until termination takes place.
","snippet":"In some circumstances, the ceding entity will be relieved of its obligation if the reinsurer cancels the contract, and only has to pay additional amounts if either:\n(a) The contract remains in force.\n(b) The ceding entit…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b4f645a56b31d93c0466cd4ad31157d5a415fa9298c00941abb8460659a62510","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-15","para":"35-15","html":"
Cash or other compensation equal to all or part of the positive fund balance received from the reinsurer if the ceding entity's contract continues in force shall be recognized as an asset because the ceding entity controls whether termination takes place and, thus, controls realization of the future economic benefit.
","snippet":"Cash or other compensation equal to all or part of the positive fund balance received from the reinsurer if the ceding entity's contract continues in force shall be recognized as an asset because the ceding entity contro…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9d5198e2124cca51bd4d2975fe2b1fd2ad9ae7c3658f19eff1d07716ab87434f","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-16","para":"35-16","html":"
Paragraph 944-20-25-6 states that, if either entity entering into a new contract in consideration for canceling a retrospectively rated contract would not have agreed to cancel the existing retrospectively rate contract unless a new contract were entered into, the two contracts are in effect the same contract for purposes of measuring assets and liabilities and shall be accounted for that way.
","snippet":"Paragraph 944-20-25-6 states that, if either entity entering into a new contract in consideration for canceling a retrospectively rated contract would not have agreed to cancel the existing retrospectively rate contract …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:19e756cdb26427b6dcbebaee619d05d0130ecb0cd091957a247301cbd4a82cf3","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:accd57d3b51becc4035589162832a05081dc071b4007d7ec8cb9963572d85c32","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"block":"Reinsurance Contracts","heading":"Multiple-Year Retrospectively Rated Contract Terminated by the Ceding Entity","paragraphs":[{"citation":"944-20-35-17","para":"35-17","html":"
The following paragraph applies to contracts having both of the following characteristics:
  1. a
    The ceding entity could terminate the contract before the end of its term.
  2. b
    Termination would change the amounts paid—for example, if terminating the contract would cost less than continuing the contract in force.
","snippet":"The following paragraph applies to contracts having both of the following characteristics:\n(a) The ceding entity could terminate the contract before the end of its term.\n(b) Termination would change the amounts paid—for …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e5a5a59c39d0d8f2be3517fa176b077b7d3c55f1d281d03e6b0ee00b5233a8ca","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-18","para":"35-18","html":"
The liability resulting from a contract having the characteristics in the preceding paragraph shall be measured as follows:
  1. a
    If a decision to terminate has been made, the measurement shall be based on an assumption of termination and experience to date.
  2. b
    If a decision to terminate has not been made, the measurement shall be based on the lesser of the following:
    1. 1
      The total incremental cost that would be paid based on the with-and-without calculation assuming experience to date and assuming termination—that is, excluding the effects of future losses and future premiums that would have been paid regardless of experience to date
    2. 2
      The total incremental cost that would be paid based on the with-and-without calculation assuming experience to date and assuming no termination—that is, excluding the effects of future losses and future premiums that would have been paid regardless of experience to date.
","snippet":"The liability resulting from a contract having the characteristics in the preceding paragraph shall be measured as follows:\n(a) If a decision to terminate has been made, the measurement shall be based on an assumption of…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:91e6fa26a6910ad12a06f11cb3a55dcf66c3306f5a9eedde3009dbbca54f1abf","downloaded_from":"2026-09-10T02:15:16.265Z","last_downloaded_at":"2026-09-10T02:15:16.265Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479934","source_sha256":"e699e677c7fe7a17e540dbc21f4b5c6195e238a33a276e738396420cc28a008a"}},{"citation":"944-20-35-19","para":"35-19","html":"
As indicated in paragraph 944-20-35-18, if a decision to terminate a contract has been made, the measurement of the liability shall be based on the assumption of termination and experience to date. Otherwise, the measurement of the liability shall be based on the lesser of the following:
  1. a
    The total incremental cost that would be paid based on the with-and-without method assuming experience to date and assuming termination
  2. b
    The total incremental cost that would be paid based on the with-and-without method assuming experience to date and assuming no termination.
The effects of future losses and future premiums that would have been paid regardless of experience to date shall be excluded from both calculations. Costs associated with the decision not to terminate shall be recognized in the period in which the future coverage is provided because those costs are associated with that future coverage.
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