The face amounts of contracts still to be paid out to insureds.
The face amounts of contracts still to be paid out to insureds.
Occurs when the subject matter insured or part thereof is not exposed to risk. For example, a policy is effected to cover a marine shipment of 100 boxes but only 80 boxes are sent. The Insured is entitled to a refund of premium on the 20 boxes that were not exposed to risk.
Facebook
Linked In
Instagram
Contact Us
News
Calculators