Unlike most businesses, insurers use Statutory Accounting Principles (SAP) to prepare their financial statements for state regulatory authorities. State governments in the United States require insurers to use SAP because it stresses liquidity. Insurers must maintain...
Surety underwriters look at an applicant’s income statement to observe profitability over a period of time, usually one fiscal year. The income statement indicates whether a company made a profit by looking at the expenses to generate revenues. Unlike the previously...
The topic of guardianship’s is quite dense. Therefore, this will begin a series of posts concerning guardian bonds. This first post is a brief overview of what a guardianship is and why a bond might be required. Guardian bonds are required in Surrogates’ Courts...
