What does Nonadmitted Assets mean? Read on to discover the definition & meaning of the term Nonadmitted Assets - to help you better understand the language used in insurance policies.
Assets that the insurer carries on its books, but that must be deducted from gross assets to determine its financial condition in reporting to a state insurance department. Also, includes adjustments to book value of an asset to bring it into agreement with statutory value.
We hope the you have a better understanding of the meaning of Nonadmitted Assets.