Blogs

InsureTerms™/Terminology for the Consummate Insurance & Reinsurance Lawyer: “SAP”

www.insurereinsure.com
August 31, 2016

“SAP”

Insurance statutory accounting principles which are codified in the National Association of Insurance Commissioners’ Accounting Practices & Procedures Manual, and sometimes by “permitted practices” of the state insurance department; the term is oftentimes used as an accounting reference for insurance company financial matters in a stock purchase agreement and managing general agency agreement.

RELATED NEWS & EVENTS