Agents continue to battle over GAAP. (generally accepted accounting principles for insurance agents): An article from: National Underwriter Property & Casualty-Risk & Benefits Management

This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on June 29, 1992. The length of the article is 505 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Insurance agents have reacted adversely to an American Institute for Certified Public Accountants draft of generally accepted accounting principles (GAAP) for insurance agents. The provision requiring insurance agents to realize income for accounting purposes at the beginning of an insurance policy rather than as the premium payments are made is the most controversial. This assumes that agents have no obligations to service the policies they sell, according to Russell Burnett, chief financial officer for the Independent Insurance Agents of America. He contends service is a legal obligation.

Citation Details
Title: Agents continue to battle over GAAP. (generally accepted accounting principles for insurance agents)
Author: Colleen Mulcahy
Publication:National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: June 29, 1992
Publisher: The National Underwriter Company
Issue: n26 Page: p31(1)

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