What does Financial Reporting mean? Read on to discover the definition & meaning of the term Financial Reporting - to help you better understand the language used in insurance policies.
insurance companies are required to maintain records and file annual and quarterly financial statements with regulators in accordance with statutory accounting principles (SAP). Statutory rules also govern how insurers should establish reserves for invested assets and claims and the conditions under which they can claim credit for reinsurance ceded.
We hope the you have a better understanding of the meaning of Financial Reporting.