| term | description |
| ADMITTED ASSETS | Assets recognized and accepted by state insurance laws in determining the solvency of insurers and reinsurers. To make it easier to assess an insurance companys financial position, state statutory accounting rules do not permit certain assets to be included on the balance sheet. Only assets that can be easily sold in the event of liquidation or borrowed against, and receivables for which payment can be reasonably anticipated, are included in admitted assets. (See Assets ) |
| NON-ADMITTED 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 ) |