Revenue 113
Table 5.12 Detailed Classifi cation of Premiums,
Fees, and Claims Receivable Related
to Nonlife Insurance and Standardized
Guarantee Schemes (145)145 Premiums, fees, and claims receivable related
to nonlife insurance and standardized
guarantee schemes
1451 Premiums, fees, and current claims
receivable
14511 Premiums receivable^1
14512 Fees receivable for standardized
guarantee schemes^1
14513 Current claims receivable^1
1452 Capital claims receivable^1(^1) Further breakdown/“of which” lines could allow for the identifi -
cation of subsectors and individual units (see Table 3.1).
be recorded as the incurrence of a liability in the form
of insurance technical reserves (see paragraphs 7.183
and A4.79).
5.151 Capital claims receivable (1452) comprise
exceptionally large insurance settlements receivable
in the wake of a catastrophic event or disaster. It may
be diffi cult for the parties to identify these exception-
ally large settlements consistently, so as a simplifying
convention, all nonlife insurance claims are classifi ed
as current transfers, unless it is necessary to record
a capital transfer to be consistent with the national
accounts.
receivable^46 by insurance schemes to provide entitle-
ment to insurance against risks; claims receivable from
insurance schemes by benefi ciaries; and fees receivable
for the issuance of standardized guarantees. While pre-
miums and fees are always of a current nature, claims
receivable could be of a capital or current nature.
Th e types of insurance and standardized guarantee
schemes, terminology used in insurance, and the sta-
tistical recording of fl ows and stock positions related
to these are described in Appendix 4. To allow for con-
solidation of the general government and public sec-
tors, this revenue should be classifi ed according to the
sector of the counterparty (see Table 5.12).^47
5.150 Premiums, fees, and current claims receiv-
able (1451) comprise nonlife insurance premium
revenue and fees receivable for the issuance of stan-
dardized guarantees, as well as insurance settlement
revenue that is not exceptional. On an accrual basis,
premiums and fees receivable should include only
those that provide insurance coverage in the report-
ing period. Receipts of prepayment of premiums and
fees should not be recognized as revenue, but should
(^46) In the 2008 SNA, nonlife insurance premiums receivable
are partitioned into a sale of a service and a transfer. In GFS,
the entire premium is considered a transfer. Fees receivable
for one-off guarantees are recorded as administrative fees
(see paragraph 5.138).
(^47) See Appendix 4 for an illustration of the recording of transac-
tions and stock positions related to insurance, including stan-
dardized guarantees.