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Although it does not cover marine insurance in its own right , reference will be made to the Marine Insurance Act 1906 and to the case law decided there under relevant to non-marine insurance contracts . The requisition of the ownership in whole or in part of personal property shall ipso jure entail , within the limit of the requisition , the termination or reduction of the insurance contracts relating to said property , as from the date of dispossession thereof . In fact , one of the major problems with the International Accounting Standards Board 's project on insurance contracts is rooted in their efforts to treat insurance contracts as if they were equivalent to other financial instruments . Permits the reinsurance of risks and receipt of premiums therefrom by SCA Reinsurance Limited , through its United States Virgin Islands Branch , in connection with insurance contracts sold by Aetna , Inc. ( Aetna ) , or any successor company to Aetna which is unrelated to SCA , to provide long-term disability , accidental death and dismemberment , and basic and supplemental life insurance benefits to participants in programs maintained by SCA North America , Inc. to provide such benefits to its employees . The course covers the application of tools from financial mathematics such as pricing and hedging of financial derivatives via martingale theory and stochastic control to valuation of insurance contracts . Mr. Bowes discussed recent accomplishments of the Committee and briefed the members on upcoming responsibilities , such as development of the fiscal year 2004 budget , renewal of health insurance contracts , and reviews of financial reports .