What does FASB 115 mean? Read on to discover the definition & meaning of the term FASB 115 - to help you better understand the language used in insurance policies.
FASB 115 is a rule that was put in place by the Financial Accounting Standards Board which states that insurers must report their securities with fixed maturities based on their current market value. This is opposed to the value that the securities may have had in the past or that they may have in the future.
We hope the you have a better understanding of the meaning of FASB 115.