Insurance risk according to IFRS 4

Insurance risk according to IFRS 4. The International Financial Reporting Standard IFRS 4 specifies the financial reporting for insurance contracts by any entity that issues such contracts (described as an insurer). IFRS 4 describes the improvements to accounting by insurers for insurance contracts and the disclosure that identifies. IFRS 4 explains the amounts in an insurer's financial statements arising from insurance contracts and helps users of those financial statements understand the amount, timing and uncertainty of future cash flows from insurance contracts. The target of this paper is to define significant insurance risk according to IFRS 4. The paper describes its definiton and incidence into financial reporting on the insurance market in the Slovak republic.