Home > Glossary

Financial Statement

Financial Statement

Definition

A firm's operating statements, including balance sheet and profit and loss statement, along with associated information. Underwriters frequently request financial statements when they provide both new business and renewal quotations. This is because an insured's financial condition is an important factor in assessing its insurability, commitment to loss control programs, and ability to pay premiums.

Related Products

Navigation

Social Media

User ID: Subscriber Status:Free