Definitions for "NON-ADMITTED ASSETS"
Assets that are not recognized by regulatory authorities in assessing solvency and include items such as furniture, certain equipment and agent's balances. These assets are listed in exhibit 13 of the annual statement that insurers provide to insurance regulators.
Assets that cannot be declared under an insurance contract.
Assets that do not qualify under state law for insurance statement purposes. Examples would be furniture, fixtures, agents' balances, and accounts receivable which are over ninety days old.