What Does Nonadmitted Asset Mean?

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What does Nonadmitted Asset mean? Read on to discover the definition & meaning of the term Nonadmitted Asset - to help you better understand the language used in insurance policies.

Nonadmitted Asset

Nonadmitted Asset

An asset that may be accounted for in an insurance company's balance sheet but not allowed to be counted for purposes of calculating statutory capital or compliance with solvency ratios.

We hope the you have a better understanding of the meaning of Nonadmitted Asset.

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