Insurance   A layperson's glossary of insurance terminology.

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ASSETS
Property owned, in this case by an insurance company, including stocks, bonds, and real estate. Insurance accounting is concerned with solvency and the ability to pay claims. State insurance laws therefore require a conservative valuation of assets, prohibiting insurance companies from listing assets on their balance sheets whose values are uncertain, such as furniture, fixtures, debit balances, and accounts receivable that are more than 90 days past due.
ALSO SEE: FIDUCIARY LIABILITY, LLOYD'S OF LONDON, 529 SAVINGS PLANS, INSURANCE SCORE, VALUATION, SCHEDULE, ANNUITY

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