Recently Issued Accounting Standards

3 Months Ended

Mar. 31, 2016

Accounting Changes and Error Corrections [Abstract]

Recently Issued Accounting Standards

NOTE 4 – RECENTLY ISSUED ACCOUNTING STANDARDS

During the three months ended March 31, 2016, the Financial Accounting Standards Board (“FASB”) has not issued any accounting standards that are expected to have a material impact on the Company’s consolidated financial statements.

In May 2015, FASB issued Accounting Standards Update (“ASU”) 2015-09 “Disclosures About Short-Duration Contracts.” The objective of this ASU is to increase transparency about significant estimates in unpaid losses and loss adjustment expenses and provide additional information about amount, timing and uncertainty of cash flows related to unpaid losses and loss adjustment expenses. ASU 2015-09 is not expected to have any impact on the Company’s consolidated financial statements. The disclosure mandated by ASU 2015-09 will become effective for annual and quarterly reporting periods ended on and after December 31, 2016.