In 2017, the IASB issued the new comprehensive insurance accounting standard IFRS 17, amendments followed in 2020. In addition to its general model, IFRS 17 introduces a simplified approach, the Premium Allocation Approach (PAA) applicable for certain contracts of relatively short duration, typically found often in non-life insurance. The PAA is the preferred approach for most non-life insurance companies, wherever eligible. The assessment of the eligibility for the PAA requires certain considerations about the features of the contract and the measurement deviates in details from the usual unearned premiums liability as in traditional insurance accounting.
To enhance the applicability of the PAA, judgment of the details of the eligibility criteria is needed. We will discuss those details and the hurdles included. Furthermore, we will discuss the details of the PAA measurement particularly in comparison with traditional methods which might be applied as approximation. The combination of the simplified approach together with the general model to be applied to the claims liability is a further topic.
Your early-bird registration fee is € 150.00 plus 19% VAT for bookings by 3 May 2022. After this date, the fee will be € 205.00 plus 19% VAT.
