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Insurance Definition: ASSETS

By Compuquotes Team on March 27th, 2008

ASSETS:

Definition:

  • Property owned, in this case by an insurance company, including stocks, bonds, and real estate. Insurance accounting is concerned with solvency and the ability to pay claims. State insurance laws therefore require a conservative valuation of assets, prohibiting insurance companies from listing assets on their balance sheets whose values are uncertain, such as furniture, fixtures, debit balances, and accounts receivable that are more than 90 days past due. (See Admitted assets)

Information provided by Insurance Information Institute

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