Insurance Accounting
/ɪnˈʃʊərəns əˈkaʊntɪŋ/
Definitions
- (n.) The method and principles of recording, classifying, and reporting financial transactions and results specific to insurance companies, reflecting risks, premiums, claims, reserves, and regulatory compliance.
Insurance accounting requires specialized knowledge to properly manage premium income and claim reserves.
Forms
- insurance accounting
Related terms
See also
Commentary
Insurance accounting must align with regulatory standards and actuarial assessments to ensure accurate representation of an insurer's financial condition.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.