Statutory accounting adopted ASC 460/FIN 45 on guaranties for all guaranties except for certain guaranties described in SSAP 5R, paragraph 17. Certain related party guaranties are exempted from liability recognition but are required to have extensive disclosure. Related party guaranties that are exempted from liability recognition are those made to or on behalf of 100% owned subsidiaries or those considered "unlimited," which the NAIC states are "typically in response to a rating agency's requirement to provide a commitment to support." However, a parental commitment to support a non-wholly owned subsidiary up to a maximum of $50 million (for example) is not considered "unlimited" and would therefore be required to be considered for liability recognition. The exemption for wholly-owned subsidiaries applies to both direct and indirect subsidiaries of an insurance company, and to both insurance and non-insurance subsidiaries.

SSAP 5R requires extensive disclosure of all guaranties, including related party guaranties. The NAIC has provided a disclosure template as Appendix A to SSAP 5R. These disclosures are required in both the Annual Statement and the audited financial statements.