I.I.I. Glossary

COMPETITIVE STATE FUND- A facility established by a state to sell workers compensation in competition with private insurers.

ADMITTED ASSETS- Assets recognized and accepted by state insurance laws in determining the solvency of insurers and reinsurers. To make it easier to assess an insurance company’s financial position, state statutory accounting rules do not permit certain assets to be included on the balance sheet. Only assets that can be easily sold in the event of liquidation or borrowed against, and receivables for which payment can be reasonably anticipated, are included in admitted assets. (See Assets )