AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
The minimum helps cover the expense of underwriting and issuing the policy, even if you decide to end your policy before the term is up. Depending on your policy details, it may be up to 100% of your term payment or lower. That protection covers a specific set of risks and liabilities over a given term.Ī minimum earned premium is the specific proportion of your premium an insurer will collect if you cancel your coverage before the end of your term. When you sign up for insurance, you agree to pay a premium in exchange for an agreed-upon amount of protection. Read on to learn how minimum earned premiums work and what you should know when you purchase an insurance policy for your business. Usually, the minimum earned premium comes into play if you decide to cancel your business insurance policy before the term is up. In other words, it’s the smallest transaction the insurance company will accept to provide coverage to the insured. A minimum earned premium is the lowest dollar amount an insurer will retain to write a business insurance policy.
0 Comments
Read More
Leave a Reply. |