Expense 141
Premiums, fees, and claims payable related
to nonlife insurance and standardized
guarantee schemes (283)
6.125 Premiums, fees, and claims payable related
to nonlife insurance and standardized guarantee
schemes (283) include nonlife insurance premiums
payable to insurance schemes/corporations to secure
entitlement to insurance against risks, claims pay-
able by insurance schemes to benefi ciaries, and fees
payable to obtain standardized guarantees. To allow
for consolidation of the general government and
public sectors, this expense should also be classi-
fi ed according to the subsector of the counterparty
(see Table 6.11). A distinction is made between premi-
ums, fees, and current claims payable (2831) and capital
claims payable (2832):
- Premiums, fees, and current claims payable
(2831) comprise nonlife insurance premiums
expense and fees payable for the issuance of
standardized guarantees, as well as insurance
settlement expense that are not exceptional.
Th e premiums and fees are payable to insur-
ance schemes and corporations to obtain cov-
erage against various events or accidents. Such
amounts are always recorded as current trans-
fers.^44 Also included are nonlife insurance claims
payable by insurance schemes operated by a gen-
eral government unit or public insurance corpo-
ration in settlement of claims that become due
during the current reporting period. Claims be-
(^44) In the 2008 SNA, nonlife insurance premiums payable are
partitioned into a purchase of a service and a transfer. In GFS, the
entire premium is considered a transfer because the policyholder
is not able to partition the service and transfer components.
come payable when the eventuality occurs that
gives rise to a valid claim, regardless of whether
paid, settled, or reported during the reporting
period. Such insurance claims that are not excep-
tional are recorded as current transfers (see also
paragraph A4.79 for the recording of standard-
ized guarantee schemes).
- Capital claims payable (2832) comprise excep-
tionally large insurance settlements payable in the
wake of a catastrophic event or disaster. For these
exceptional large claims payable, such as those
following a catastrophe, some part of the claims
may be recorded as capital transfers rather than as
current transfers. It may be diffi cult for the parties
to identify these events consistently, so as a sim-
plifying convention, all nonlife insurance claims
are classifi ed as current transfers, unless it is nec-
essary to record a capital transfer to be consistent
with the national accounts.
Table 6.11 Detailed Classifi cation of Premiums,
Fees, and Claims Payable Related to
Nonlife Insurance and Standardized
Guarantee Schemes (283)
283 Premiums, fees, and claims payable related
to nonlife insurance and standardized
guarantee schemes
2831 Premiums, fees, and current claims payable
28311 Premiums payable^1
28312 Fees payable for standardized guarantee
schemes
28313 Current claims payable^1
2832 Capital claims payable^1(^1) Further breakdown/“of which” lines could allow for the
identifi cation of subsectors and individual units (see Table 3.1).