{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/944/40/#15-scope-and-scope-exceptions","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":"944-40","subtopic_title":"Claim Costs and Liabilities for Future Policy Benefits","section":{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"944-40-15-1","para":"15-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section <a altsource=\"GUID-6D9C18A3-ADAA-4660-A6E4-06A364A6BB5D.ditamap\" class=\"ditamap\">944-10-15</a>, with specific entity exceptions noted below.</div></div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 944-10-15, with specific entity exceptions noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:45410c6d7ece42d9c1ca1975685e37f1c86370075a0ff50743faaced07d51346","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0745dd194692cf64b0c7ac3b8facfac5253e29bc12a0b6dc52a9fb5bf97199de","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"944-40-15-2","para":"15-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_02456819-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This Subtopic does not apply to <a href=\"/glossary/m/#mortgage-guaranty-insurance-entity\" class=\"term\" title=\"An insurance entity that issues insurance contracts that guarantee lenders, such as savings and loan associations, against nonpayment by mortgagors.\"><span>mortgage guaranty insurance entities</span></a>. </span></span></div></div>","snippet":"This Subtopic does not apply to mortgage guaranty insurance entities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eed64611baea3a662943e12dcdba09d534704587251f4527378514c154704787","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:62999b354160c59fb48b7573cb8ee349edb55d2f6258a50b6917575b2f7aec21","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},{"block":"Short-Duration Contracts","heading":"Overall Guidance","paragraphs":[{"citation":"944-40-15-3","para":"15-3","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Short-Duration Contracts Subsections follow the same Scope and Scope Exceptions as outlined in the <a href=\"/asc/944/40/#15-scope-and-scope-exceptions\" class=\"xref\">General Subsection</a> of this Section, with specific instrument qualifications noted below.</div></div>","snippet":"The Short-Duration Contracts Subsections follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Section, with specific instrument qualifications noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:49778b2e58d2c42667d816f032441cfab1dd9674707aa2ba7f439a686a233bf4","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c0f7241a738046d3aa8e46fab71561aff2413c6522faad96bfc10742c3ed4f4","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},{"block":"Short-Duration Contracts","heading":"Instruments","paragraphs":[{"citation":"944-40-15-4","para":"15-4","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Short-Duration Contracts Subsections of this Subtopic applies only to short-duration contracts. See the <a href=\"/asc/944/20/#15-scope-and-scope-exceptions\" class=\"xref\">Short-Duration Contracts Subsection</a> of Section 944-20-15 for a discussion of what constitutes a short-duration contract.</div></div>","snippet":"The guidance in the Short-Duration Contracts Subsections of this Subtopic applies only to short-duration contracts. See the Short-Duration Contracts Subsection of Section 944-20-15 for a discussion of what constitutes a …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:021b1a2b42eec4790599383ada6001175bf099954121904fc054a13c4037f1c4","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3243efb252f8be29349e3e1be81fecc12a88a314fb08cda4ec74e8cd5745291e","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},{"block":"Long-Duration Contracts","heading":"Overall Guidance","paragraphs":[{"citation":"944-40-15-5","para":"15-5","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Long-Duration Contracts Subsections follow the same Scope and Scope Exceptions as outlined in the <a href=\"/asc/944/40/#15-scope-and-scope-exceptions\" class=\"xref\">General Subsection</a> of this Section, with specific instrument qualifications noted below.</div></div>","snippet":"The Long-Duration Contracts Subsections follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Section, with specific instrument qualifications noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f8ab9293fd1c0a2d01338b6cfb9f9b040482018ae203fdcf7bd4948db1a360eb","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac4df4b83b1132a46c6bed0e11f3b20c2d3400f0ac20f0109fa50a6c58acdde6","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},{"block":"Long-Duration Contracts","heading":"Instruments","paragraphs":[{"citation":"944-40-15-6","para":"15-6","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Long-Duration Contracts Subsections of this Subtopic applies to long-duration <span class=\"sfragment\" id=\"sfr_02592BD4-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">contracts, including <a href=\"/glossary/i/#investment-contracts\" class=\"term\" title=\"Long-duration contracts that do not subject the insurance entity to risks arising from policyholder mortality or morbidity.\"><span>investment contracts</span></a> with respect to nontraditional contract benefits referenced in paragraph <a href=\"/asc/944/40/#944-40-25-25B\" class=\"xref\">944-40-25-25B</a>. </span></span>See the <a href=\"/asc/944/20/#15-scope-and-scope-exceptions\" class=\"xref\">Long-Duration Contracts Subsection</a> of Section 944-20-15 for a discussion of what constitutes a long-duration contract.</div></div>","snippet":"The guidance in the Long-Duration Contracts Subsections of this Subtopic applies to long-duration contracts, including investment contracts with respect to nontraditional contract benefits referenced in paragraph 944-40-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a67fedebd3225dc8d9cc0cb6f2c69fbd12de663c22b463a716a2daabc68c1881","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2910093f13c6fa6697564617bca42246ddb8d93497b0ccd636fffafe60f35dd9","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},{"block":"Reinsurance Contracts","heading":"Overall Guidance","paragraphs":[{"citation":"944-40-15-7","para":"15-7","html":"<div class=\"asc-body\"><div class=\"norm-text\">The Reinsurance Contracts Subsections of this Subtopic follow the same Scope and Scope Exceptions as outlined in the <a href=\"/asc/944/40/#15-scope-and-scope-exceptions\" class=\"xref\">General Subsection</a> of this Section, with specific instrument qualifications noted below.</div></div>","snippet":"The Reinsurance Contracts Subsections of this Subtopic follow the same Scope and Scope Exceptions as outlined in the General Subsection of this Section, with specific instrument qualifications noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9186cbeefdbaa876f83f66a90aa22db8cdfd3863d0ac9a590055712febc14a70","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d474da32a9a3e00f76141ac7230157bf9ff479dbd65a3b62738265dfc89a7014","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},{"block":"Reinsurance Contracts","heading":"Instruments","paragraphs":[{"citation":"944-40-15-8","para":"15-8","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Reinsurance Contracts Subsections of this Subtopic applies only to <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> contracts. For guidance on identifying a reinsurance contract, see the <a href=\"/asc/944/20/#15-scope-and-scope-exceptions\" class=\"xref\">Reinsurance Contracts Subsection</a> of Section 944-20-15.</div></div>","snippet":"The guidance in the Reinsurance Contracts Subsections of this Subtopic applies only to reinsurance contracts. For guidance on identifying a reinsurance contract, see the Reinsurance Contracts Subsection of Section 944-20…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7bb88b21439fd2b7198b8a8867b165d54801744d986d9138b57bf13506954cb4","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:236ae1c77d29fb801d6db2e0a0a893f0938d8f7e5610f4fa084ff67430395f26","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},{"block":"Financial Guarantee Insurance Contracts","heading":null,"paragraphs":[{"citation":"944-40-15-9","para":"15-9","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Financial Guarantee Insurance Contracts Subsections of this Subtopic applies only to <a href=\"/glossary/f/#financial-guarantee-insurance-contract\" class=\"term\" title=\"A contract issued by an insurance entity that provides protection to the holder of a financial obligation from a financial loss in the event of a default. Specifically, a contract that obligates the insurance entity to pay a claim upon the occurrence of an event of default. The event of a default (insured event) refers to nonpayment (when due) of insured contractual payments (generally principal and interest) by the issuer of the insured financial obligation.\"><span>financial guarantee insurance contracts</span></a> and <a href=\"/glossary/f/#financial-guarantee-reinsurance-contract\" class=\"term\" title=\"See Financial Guarantee Insurance Contract\"><span>financial guarantee reinsurance contracts</span></a>.</div></div>","snippet":"The guidance in the Financial Guarantee Insurance Contracts Subsections of this Subtopic applies only to financial guarantee insurance contracts and financial guarantee reinsurance contracts.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:08d0b89864e05bd8e4e7ec91dcf338807c06b8ef6e1c6c74aed6e1478be5bd57","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8ba730996b5aa0e176e089b96fc136d01b3e91a98ba296c123ee28f29a5636b7","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa87efc631a7ca4e71b8a16bc898fb4c4243d5713201caa8e11c9d6eba836456","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa87efc631a7ca4e71b8a16bc898fb4c4243d5713201caa8e11c9d6eba836456","downloaded_from":"2026-09-10T02:16:31.680Z","last_downloaded_at":"2026-09-10T02:16:31.680Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479300","source_sha256":"e7d7e472c35403f45d0f54fd19038b0848768e140d9ae89aa80ee3c3d4e3224c"}}