The IASB has published proposals to amend the existing Insurance Contract Standard IFRS4, requesting stakeholder feedback by 8 February 2016. It is intended that IFRS4 will be replaced by the new Insurance Contracts Standards in the next couple of years. However, before those new Standards are introduced, amendments are being made to IFRS9 (which is relevant to Financial Instruments, including insurance contracts). Companies are concerned that the tension between the existing IFRS4 and the revisions to IFRS9 will lead to accounting volatility for companies that issue insurance contracts in the period before IFRS4 is replaced. The IASB proposes amendments to IFRS4 to mitigate that potential increased accounting volatility and invites comments from interested parties by comment letter.