Assent by the insured that investigation and determination of the value of a claim by the Insurer does not constitute an admission that the Insurer agrees to pay the loss or claim. Also known as a “reservation of rights notice.”

An act, effective July 21, 2011, that established a single-state compliance requirement where brokers are only required to comply with the regulations of the insured’s home state, and introduced provisions to increase consistency in the market.

US: 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.
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Assets not qualified to be listed on the insurance statements because they do not meet state requirements. These can include furniture or fixtures.
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Assets that are not included on the balance sheet, including furniture, fixtures, past-due accounts receivable, and agents’ debt balances. See Assets.

Insurance written by an insurance company not licensed to do business in a certain state or country. In U.S. jurisdictions, such insurers can nevertheless write coverage through an excess and surplus lines broker licensed in that jurisdiction.

An insurance company not licensed to do business in a certain state or country. In U.S. jurisdictions, such insurers can nevertheless write coverage through an excess and surplus lines broker licensed in that jurisdiction.
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An insurer who is not able to do business in a certain jurisdiction, as he or she does not have the proper license.

Reinsurance purchased from a company not licensed or authorized to transact business in a particular jurisdiction. Nonadmitted reinsurance may not be treated as an asset against reinsured losses or unearned premium reserves for insurance company accounting and statement purposes.

Reinsurance that is not credited on the ceding company’s annual statement because the reinsurer is not properly licensed in the jurisdiction where the business was conducted.