{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/944/60/#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":"944-60","subtopic_title":"Premium Deficiency and Loss Recognition","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":"944-60-15-1","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>.</div></div>","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 944-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c4bda5470618244ea82852613c22477914637af66ee13cec657ab8bc3330f564","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f1b1e12671ca4f478fdfd14c02c298b664e7b8641a6cac474cc9d9939d2a3b04","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}},{"block":"Short-Duration Contracts","heading":"Overall Guidance","paragraphs":[{"citation":"944-60-15-2","para":"15-2","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 General Subsection 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":"sha256:706d3ea821f05e09cf6d581b786756f0350f70a90cf04e2c80dcc0d011379a3a","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6a16133d74f85248ae520df62ba11a2ec5428fdcefe647f75e013c4a408ae113","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}},{"block":"Short-Duration Contracts","heading":"Instruments","paragraphs":[{"citation":"944-60-15-3","para":"15-3","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":"sha256:537b840a0e5a43bb5923cc05bd5140213117dec916c1bdc03beb348f4eebc7df","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:411176137a98d9aaf49ee3350cc945058fce32aed18362b2eabf276099c30c8c","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}},{"block":"Long-Duration Contracts","heading":"Overall Guidance","paragraphs":[{"citation":"944-60-15-4","para":"15-4","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 General Subsection 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":"sha256:6d164b8bd73184f81302e3466c6cea4065ab2b78c55ca07e9adf6f1b8685ba9b","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a9f096b465a4df76b69456e2a0f638f151e0269b460bdc4a6410d3b92260a96c","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}},{"block":"Long-Duration Contracts","heading":"Instruments","paragraphs":[{"citation":"944-60-15-5","para":"15-5","html":"<div class=\"asc-body\"><div class=\"norm-text\">The guidance in the Long-Duration Contracts Subsections of this Subtopic applies to long-duration contracts, <span class=\"sfragment\" id=\"sfr_0661EA10-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">except for the liability for future policy benefits for traditional and limited-payment contracts subject to the guidance in paragraph <a href=\"/asc/944/40/#944-40-25-11\" class=\"xref\">944-40-25-11</a>. Paragraph <a href=\"/asc/944/30/#944-30-35-63\" class=\"xref\">944-30-35-63</a> specifies that the present value of future profits relating to insurance (including traditional and limited-payment) and reinsurance contracts acquired is subject to premium deficiency testing in accordance with the provisions of this Subtopic (see paragraph <a href=\"/asc/805/944/#805-944-35-3\" class=\"xref\">944-805-35-3</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, except for the liability for future policy benefits for traditional and limited-payment contracts subject to th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a7803e2a9dc91e7b6f018109310e6692f839afd34ed16dd5ac518e9d7e64e384","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:14a4cea635954b0c14dec3a14c752e38a15d49038bd70a0708912c3f51330ff9","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2cba22fc143dff9d7c5f21919de3cbc97dad948c9d662665134ecdbb20293897","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2cba22fc143dff9d7c5f21919de3cbc97dad948c9d662665134ecdbb20293897","downloaded_from":"2026-09-10T02:17:46.601Z","last_downloaded_at":"2026-09-10T02:17:46.601Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479633","source_sha256":"277bbfde21b2ed5d8890f7e0a2ce8f5392569df86e79011d2b34a4bdea597919"}}