At Present There Are Three AASB Standards Related to Insurance

At present there are three AASB standards related to insurance contracts:

A) Phase I of the IASB Insurance Project will see these replaced by one standard.
B) Three standards are required to deal with complex issues such as the HIH collapse.
C) These standards cover life insurance, general insurance and motor vehicle insurance.
D) These standards reissued in July 2004 have been significantly altered based on recommendations from the HIH Royal Commission.