MLchartDataset catalogue

Statutory accounting principles (SAP)

Term · Insurance and risk management · MLC-T-INS-003181

A set of accounting rules prescribed by state insurance regulators for the preparation of financial statements by insurance companies. SAP prioritizes solvency and the ability to pay claims over matching revenues and expenses, differing from Generally Accepted Accounting Principles (GAAP). It requires conservative valuations of assets and liabilities to protect policyholders.

Table 1. Record
IdentifierMLC-T-INS-003181
FieldInsurance and risk management
AbbreviationSAP
Record as JSON 
{
  "id": "MLC-T-INS-003181",
  "term": "Statutory accounting principles (SAP)",
  "field": "Insurance and risk management",
  "definition": "A set of accounting rules prescribed by state insurance regulators for the preparation of financial statements by insurance companies. SAP prioritizes solvency and the ability to pay claims over matching revenues and expenses, differing from Generally Accepted Accounting Principles (GAAP). It requires conservative valuations of assets and liabilities to protect policyholders.",
  "abbreviation": "SAP",
  "url": "https://mlchart.com/terminology/insurance/statutory-accounting-principles-sap/"
}

Record 3,227 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.