I have tried to research this on my own, but I cannot seem to find clear guidance on the treatment. We have payments that were made on facultative treaties in December, but the treaties are not effective until January, therefore we currently have no payables set up on our books for these payments. I would think they would be considered a prepaid, but I also know prepaid expenses are non-admitted assets for STAT purposes. Are prepaid reinsurance treated any differently, or how should these be classified?
01-19-2024, 01:52 PM
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