A soft market, also known as a buyer's market, is one in which supply exceeds demand. In the financial world, the term often refers to a time in which there are more shares or bonds for sale than there are customers eager to buy them. The lack of interest creates a wide spread, or gap, between the prices being asked for securities and the prices being bid. As a result, trading is often sluggish.
A market where houses aren't selling much or quickly, so the sales price is likely to be significantly lower than the asking (listing) price. It's a good time for buyers to buy, but not the best time for prospective sellers to sell.
That part of the insurance sales cycle in which competition is at a maximum as insurance companies use their excess capacity to sell more policies at lower prices. Statutory Accounting Principles (SAP) Those principles required by the NAIC and by state law, which must be followed by insurance companies in submitting their financial statements to the NAIC and state insurance departments. Such principles differ from generally accepted accounting principles (GAAP) in some important respects, e.g., SAP requires that expense must be recorded immediately and cannot be deferred to track with premiums as they are earned and take into revenue.