Is the joint FASB/IASB insurance project coming to a conclusion?

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By William C. Hines, Henny Verheugen | 01 May 2010
FASB and IASB are due to release an exposure draft of an accounting standard for insurance contracts in June, but the two boards seem far from reaching a consensus on a new accounting model. While the IASB is likely to move ahead with the exposure draft, FASB disagrees on how the significance of insurance risk should be evaluated, and may delay any immediate changes to U.S. GAAP for insurance.