Return premiums definition
Return premiums for insurance companies means amounts returned to insureds due to endorsements, retrospective adjustments, cancellations, dividends, or errors.
Return premiums means any and all Unearned Premiums and dividends at any time and from time to time assigned pursuant to executed Premium Finance Agreements as security for amounts due under executed Premium Finance Agreements.
Return premiums any insurance premiums, net of Commissions, returned by a Carrier as a result of an insurance policy cancellation, a reduction in benefits under an insurance policy, or a reduction in premium for an insurance policy.
Examples of Return premiums in a sentence
Return premiums, including amounts due from Producer, shall be paid on a timely basis and in accordance with all applicable law.
Return premiums, rebates and bond dividends will be paid to CITY when received by DESIGN-BUILDER.
Once the approval or disapproval for one (1) week, the Officer’s approved for two (2) weeks will be allowed to submit leave for one (1) week, then single days will be submitted.
Return premiums or fees due shall be paid to the first Named Insured, unless otherwise required by law.
Return premiums and credits will be remitted by COMPANY to BROKER.
More Definitions of Return premiums
Return premiums. If this policy is cancelled, you may be entitled to a premium refund. Return premiums will be computed on a pro-rata basis. Any return premium will be paid to you as soon as possible after the cancellation. No premiums will be returned to you if we have paid you for a Total Loss or Constructive Total Loss.
Return premiums. Amounts payable to Insureds under Policies as return of unearned premiums on canceled or amended policies, adjustments arising out of premium audits or as required by law or rating plans, or as dividends.