What is the Definition of Nonadmitted Assets?

What is the Definition of Nonadmitted Assets?

Assets that are not included on the balance sheet of an insurance company, including furniture, fixtures, past-due accounts receivable, and agents’ debt balances. (See Assets)

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Nonadmitted Assets?

You can find random definition and meaning of insurance terms below:


What is the meaning of Rider

In motorcycle insurance, a rider is someone who will operate the insured motorcycle. In life and health insurance, the term 'rider' is often used to refer to an endorsement to an insurance policy.


What is the meaning of Risk

The chance of suffering a loss.


What is the meaning of Salvage

Damaged property which is taken over by the insurance company after payment of a claim.


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