Meeting regulatory requirements – professionally and efficiently with our SAP reporting solutions
In the U.S., insurance companies must report their assets and liabilities to the National Association of Insurance Commissioners (NAIC), the regulatory agency. The NAIC is under the authority of the 50 states. It coordinates the regulatory and supervisory activities of the various states and serves as a forum for the creation of statutory rules and models. In the United States, the Statements of Statutory Accounting Principles (SSAP) are certain accounting standards developed for regulatory purposes. NAIC reporting includes various statements, known as schedules, such as Schedule D and Schedule BA, and appendices, known as exhibits.