return premium

Provisions for additional or return premium do not, in and of themselves, render a contract something other than insurance.

The return premium is generally calculated using a wheel calculator.

Return premiums are money owed to a client who cancels a policy.

More than $150 million of the $800 million has gone to the hospital excess liability pool as return premium.

When a policy is canceled before its expiration date a return premium may be owed to the insured.

This factor is multiplied by the written premium to arrive with the return premium.

A non-penalty method of calculating the return premium of a canceled policy.

A penalty method of calculating the return premium often used when the policy is canceled at the insureds request.

Additional or return premiums will be dealt with separately from the Esiplan 12 Scheme.

Although no new business is being written, additional or return premiums may still be receivable or payable because:

This is to prevent the return premiums that are attributable to earlier tax years/periods distorting the ratios of the current tax year/period.

Two of the former executives also said A.I.G. routinely held onto return premiums longer than it was supposed to.

Calculation of return premium of a cancelled insurance policy is often done using a cancellation method called pro rata.

The date a policy's coverage is cancelled prior to the normally expiration date of a policy, often resulting in a return premium owed to the insured.

Short rate (old short rate) and short rate (90% pro rata) are penalty methods of calculating the return premium.

The return premium is calculated by calculating the unearned premium and then subtracting any unpaid premium and penalty for early cancellation.

The change to the policy may cause a change in the premium: an increase is often called AP (for additional premium) whereas a decrease is often called RP (returned premium).

The company canceled 80 policies that Mr. Russo had sold since 1963, returning premiums to the customers in connection with a lawsuit it settled last year with policyholders who contended that many agents had used deceptive sales techniques.

Last month, American Amicable of Texas dismissed three agents involved in the abusive sales at Fort Benning, disciplined a fourth agent and offered to return premiums that soldiers there paid for their policies - $1,200 a year for death benefits of less than $30,000.

If you are an insurer with contracts in run-off (see paragraph 3.8 for information on what is meant by this) and you use a partial exemption method based on the ratio of supplies which attract input tax recovery to total supplies, you should exclude return premiums from your calculations for run-off business only.