A set of accounting regulations prescribed by the National Association of Insurance Commissioners for the preparation of an insuring firm's financial statements.
Investopedia Says:
Filings prepared using SAP are submitted to individual state regulatory bodies; SAP are regarded as more regulatory and conservative than the GAAP method of preparing financial statements.
Related Links:
Learn what it means to do your homework on a company's performance and reporting practices before investing. Advanced Financial Statement Analysis
Find out how and why these rules can help companies "come clean" in post-Enron Wall Street. Lady Godiva Accounting Principles
