nonadmitted balance
Nonadmitted balance is reinsured liabilities on an insurer's balance sheet (loss reserves and unearned premium reserves) for which no credit is given in the ceding company's statutory statement.
nonadmitted balance
Nonadmitted balance is reinsured liabilities on an insurer's balance sheet (loss reserves and unearned premium reserves) for which no credit is given in the ceding company's statutory statement.
Additional Information
This creates a reduction in surplus, unless the reinsurer provides acceptable collateral in the amount of the unauthorized balance.
