A concise but comprehensive introduction to the principles behind the statutory accounting system prescribed by state insurance regulations and used by insurance companies. Basic Concepts describes the flow of revenue and expenses in a property/casualty insurance company, analyzes the Annual Statement, examines liabilities (specifically, unearned premium, estimated loss, and loss expense reserves) and insurance company assets (stocks and bonds, real estate, mortgages, collateral loans), discusses security exchange organizations, and presents industry totals for a number of pages of the Annual Statement. The book demonstrates the fundamental fiduciary nature of the insurance business. Contents: Introduction; Elements of P/C Insurance Accounting; Liabilities and Surplus; Assets; Income Statements; Federal Taxation; Other Financial Reports.
- ISBN10 0932387284
- ISBN13 9780932387288
- Publish Date 1 January 1991
- Publish Status Out of Print
- Out of Print 1 May 2008
- Publish Country US
- Imprint Rowman & Littlefield
- Edition 1991st ed.
- Format Hardcover
- Pages 103
- Language English