The XBRL–a financial reporting standard that is growing in popularity–can help insurance companies better cope with heightened disclosure demands, the chairman of the XBRL consortium said at this week's ACORD-LOMA conference.
XBRL–an acronym for eXtensible Business Reporting Language–is a financial and business reporting XML standard currently in practical use in several countries.
In the United States, the Securities and Exchange Commission has started a voluntary program for the filing of financial reports using XBRL to evaluate the technology and its benefits for analysis of data.
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