A regulatory panel working on international accounting standards for insurance has heard insurance industry representatives question many of the concepts on the drawing board.
The representatives' critique concerning valuation of liabilities and other proposals was made to a contracts subcommittee of the International Association of Insurance Supervisors, Basel, Switzerland, during last week's New York meeting of the National Association of Insurance Commissioners, Kansas City, Mo.
The IAIS is preparing input to the International Accounting Standards Board, London, as it develops international accounting standards.
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