Cash, investments and property owned by insurance companies and other entities. They include equity investments, bonds, property, money owed by debtors (if collectable) and anything else with a monetary value. FSA regulations require insurers to put a conservative value on their admissible assets.
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Assets refer to property and possessions owned by an insurance company, which include real estate, buildings, furniture, stocks, bonds, and cash. In order to insure the public that insurance companies have the ability to pay claims, state laws require insurance companies to prove solvency. Further, state laws require a conservative valuation of all assets and do not permit any asset on the balance sheet where the value of an asset is uncertain or in the case of accounts receivables any receivables more than 90 days past due. Assets can be divided into three categories: invested assets, other assets, and admitted assets.These are assets that have been invested in an effort to generate income. Included are such things as cash, bonds, stocks, and income-producing real estate and properties.Invested Assets
Non-Income Generating Assets
This type of asset includes the building in which the company resides, furniture, and accounts receivable. Some states permit insurance companies to claim deferred and unpaid premiums as other assets.
Admitted Assets
Admitted assets are assets the company owns and which state law permits the company to place on its annual statement. Admitted assets are used to determine a company’s solvency and ability to pay the claims of its policyholders. In most cases, admitted assets are assets that can be easily liquidated or borrowed against. They may include real estate, mortgages, stocks, and bonds. Other assets of the insurance company are considered non-admitted assets. (See Risk-Based Capital).
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US: All funds, property, goods, securities, rights of action, or resources of any kind owned by someone.
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All the available properties of every kind of an Insurance Company that may be used to pay its debts. These would include real estate, bonds, mortgage, stock, cash, deferred and unpaid premiums. The assets of an Insurance Company include all funds, property, goods, securities, rights of action or reserve of any kind owned by it, less such items as are declared non-admissible by statute.
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US, MEDICIAL :
1. Anything owned that has exchange value, e.g., cash, federal treasury notes and bonds, property, data processing equipment, and investments. 2. Under Medicaid, property owned that the government takes under review when a patient applies for financial assistance. 3. Under Medicare Part D, the government counts cash or any property that can be turned into cash within 20 days, such as checking and savings accounts, certificates of deposit, IRAs, and 401(k)s, stocks, bonds, and similar items. It does not include a patient’s primary home, or certain property related to burial expenses. 4. Treasury notes and bonds guaranteed by the federal government, owned properties, and cash held by the trust funds for investment purposes.