nonadmitted asset

  • Asset of an insurance company which by statute the company is not permitted to include in its NAIC Annual Statement. Such assets include office furniture and equipment and accounts over 90 days past due.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).