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IFRS 17Insurance Contracts

IFRS 17Chapter 1Lesson 1

The insurance contract: scope, risk and significance

Step 1 of 7Learning objectives

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IFRS 17 covers three categories of contracts; an insurance contract transfers significant insurance risk, that is, a risk other than financial risk linked to an uncertain future event.

35 minNot started

Learning objectives

  • List the three categories of contracts that fall within IFRS 17.
  • Explain the definition of an insurance contract and distinguish insurance risk from financial risk.
  • Apply the three-question method to a contract whose facts are given.
  • Explain the significance of insurance risk through a scenario with commercial substance.

In this lesson

Original teaching content: it paraphrases the standard without reproducing it and does not replace the official text.

Contents — IFRS 17 — Insurance Contracts

  1. 1 · Not startedScope and insurance risk0 / 2 lessons
  2. 2 · Not startedPortfolios, groups, recognition and contract boundary0 / 2 lessons
  3. 3 · Not startedThe general model: initial measurement0 / 2 lessons
  4. 4 · Not startedSubsequent measurement and the contractual service margin0 / 2 lessons
  5. 5 · Not startedThe premium allocation approach0 / 1 lesson
  6. 6 · Not startedThe variable fee approach0 / 1 lesson
  7. 7 · Not startedReinsurance contracts held0 / 1 lesson
  8. 8 · Not startedPresentation and disclosure0 / 2 lessons
  9. 9 · Not startedModification and derecognition0 / 1 lesson
  10. 10 · Not startedTransition to IFRS 170 / 1 lesson
  11. 11 · Not startedLinks with other standards and decisions0 / 1 lesson