Government Finance Statistics Manual 2014

412 Government Finance Statistics Manual 2014

Premiums, fees, and claims

payable related to nonlife

insurance and standardized

guarantee schemes

Premiums, fees, and claims payable related to nonlife insurance and standard-

ized guarantee schemes 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 standard-

ized guarantees .........................................................................................................6.125

Premiums, fees, and claims

receivable related to nonlife

insurance and standardized

guarantee schemes

Premiums, fees, and claims receivable related to nonlife insurance and standard-

ized guarantee schemes comprise nonlife insurance premiums receivable by insur-

ance schemes to provide entitlement to insurance against risks; claims receivable

from insurance schemes by benefi ciaries; and fees receivable for the issuance of

standardized guarantees .........................................................................................5.149

Premiums, fees, and current

claims payable

Premiums, fees, and current claims payable comprise nonlife insurance premiums

expense and fees payable for the issuance of standardized guarantees, as well as

insurance settlement expense that is not exceptional .........................................6.125

Premiums, fees, and current

claims receivable

Premiums, fees, and current claims receivable comprise nonlife insurance pre-

mium revenue and fees receivable for the issuance of standardized guarantees, as

well as insurance settlement revenue that is not exceptional ............................5.150

Present value Present value is the value today of a future payment or stream of payments dis-

counted at some appropriate compounded interest rate ......................................7.33

Primary income account Th e primary income account shows primary income fl ows between resident and

nonresident institutional units .............................................................................A7.82

Production measure of gross

domestic product

Th e production measure of gross domestic product is defi ned as gross value added

plus any taxes minus subsidies on products not already included in the value of

output .......................................................................................................................A7.24

Profi ts of fi scal monopolies Profi ts of fi scal monopolies cover that part of the profi ts of fi scal monopolies that

is transferred to the government. Fiscal monopolies are public corporations, pub-

lic quasi-corporations, or government-owned unincorporated enterprises that

have been granted a legal monopoly over the production or distribution of a par-

ticular kind of good or service in order to raise revenue and not in order to further

the interests of public economic or social policy ..................................................5.63

Property expense Property expense is the expense payable to the owners of fi nancial assets or natu-

ral resources when they put them at the disposal of another unit ....................6.108

Property expense for invest-

ment income disbursements

Property expense for investment income disbursements includes property income

attributed to insurance policyholders, pension entitlements, and holders of invest-

ment fund shares .....................................................................................................6.113

Property income Property income is the revenue receivable in return for putting fi nancial assets

and natural resources at the disposal of another unit .........................................5.107

Property income from invest-

ment income disbursements

Property income from investment income disbursements includes property

income attributed to insurance policyholders and holders of investment fund

shares .........................................................................................................................5.120

Provident funds Provident funds are compulsory saving schemes that maintain the integrity of the

contributions for individual participants .............................................................2.148

Public corporations

subsector

Th e public corporations subsector consists of all resident corporations controlled

by government units or by other public corporations ........................................2.104