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Cancellation Method
An insurance policy may be canceled before the end of the policy period. This has the effect of ending the policy coverage on the date of the policy cancellation. Cancellation methods Three different calculation methods are commonly used. Cancellation methods are typically calculated using an online wheel calculator. Pro rata A non-penalty method of calculating the return premium of a canceled policy. A return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy. This factor is multiplied by the written premium to arrive with the return premium. Short Period Rate (old short rate) A penalty method of calculating the return premium often used when the policy is canceled at the insured's request. It uses a table of factors that results in penalties that can be lower or higher than ''short rate (90% pro rata)'' depending upon the date of cancellation. Short Period Rate (90% pro rata) A penalty me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Policy
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Since insurance policies are standard forms, they feature boilerplate language which is similar across a wide variety of different types of insurance policies. Available through HeinOnline. The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer.Wollner KS. (1999). How to Draft and Interpret Insurance Policies. Casualty Risk Publishing LLC. In some cases, however, supplementary writings such as letters sent after t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Wheel Calculator
In computer technology and telecommunications, online indicates a state of connectivity and offline indicates a disconnected state. In modern terminology, this usually refers to an Internet connection, but (especially when expressed "on line" or "on the line") could refer to any piece of equipment or functional unit that is connected to a larger system. Being online means that the equipment or subsystem is connected, or that it is ready for use. "Online" has come to describe activities performed on and data available on the Internet, for example: "online identity", "online predator", "online gambling", " online game", "online shopping", "online banking", and "online learning". Similar meaning is also given by the prefixes "cyber" and "e", as in the words " cyberspace", "cybercrime", "email", and "ecommerce". In contrast, "offline" can refer to either computing activities performed while disconnected from the Internet, or alternatives to Internet activities (such as shopping in b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Written Premium
An insurance policy may be canceled before the end of the policy period. This has the effect of ending the policy coverage on the date of the policy cancellation. Cancellation methods Three different calculation methods are commonly used. Cancellation methods are typically calculated using an online wheel calculator. Pro rata A non-penalty method of calculating the return premium of a canceled policy. A return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy. This factor is multiplied by the written premium to arrive with the return premium. Short Period Rate (old short rate) A penalty method of calculating the return premium often used when the policy is canceled at the insured's request. It uses a table of factors that results in penalties that can be lower or higher than ''short rate (90% pro rata)'' depending upon the date of cancellation. Short Period Rate (90% pro rata) A penalty m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Short Rate Table
Short may refer to: Places * Short (crater), a lunar impact crater on the near side of the Moon * Short, Mississippi, an unincorporated community * Short, Oklahoma, a census-designated place People * Short (surname) * List of people known as the Short Arts, entertainment, and media * Short film, a cinema format (also called film short or short subject) * Short story, prose generally readable in one sitting * '' The Short-Timers'', a 1979 semi-autobiographical novel by Gustav Hasford, about military short-timers in Vietnam Brands and enterprises * Short Brothers, a British aerospace company * Short Brothers of Sunderland, former English shipbuilder Computing and technology * Short circuit, an accidental connection between two nodes of an electrical circuit * Short integer, a computer datatype Finance * Short (finance), stock-trading position * Short snorter, a banknote signed by fellow travelers, common during World War II Foodstuffs * Short pastry, one which is rich in b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Return Premium
An insurance policy may be canceled before the end of the policy period. This has the effect of ending the policy coverage on the date of the policy cancellation. Cancellation methods Three different calculation methods are commonly used. Cancellation methods are typically calculated using an online wheel calculator. Pro rata A non-penalty method of calculating the return premium of a canceled policy. A return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy. This factor is multiplied by the written premium to arrive with the return premium. Short Period Rate (old short rate) A penalty method of calculating the return premium often used when the policy is canceled at the insured's request. It uses a table of factors that results in penalties that can be lower or higher than ''short rate (90% pro rata)'' depending upon the date of cancellation. Short Period Rate (90% pro rata) A penalty me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wheel Calculator
A wheel is a circular component that is intended to rotate on an axle bearing. The wheel is one of the key components of the wheel and axle which is one of the six simple machines. Wheels, in conjunction with axles, allow heavy objects to be moved easily facilitating movement or transportation while supporting a load, or performing labor in machines. Wheels are also used for other purposes, such as a ship's wheel, steering wheel, potter's wheel, and flywheel. Common examples are found in transport applications. A wheel reduces friction by facilitating motion by rolling together with the use of axles. In order for wheels to rotate, a moment needs to be applied to the wheel about its axis, either by way of gravity or by the application of another external force or torque. Using the wheel, Sumerians invented a device that spins clay as a potter shapes it into the desired object. Terminology The English word '' wheel'' comes from the Old English word , from Proto-Germanic , fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cancellation (insurance)
An insurance policy may be canceled before the end of the policy period. This has the effect of ending the policy coverage on the date of the policy cancellation. Cancellation methods Three different calculation methods are commonly used. Cancellation methods are typically calculated using an online wheel calculator. Pro rata A non-penalty method of calculating the return premium of a canceled policy. A return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy. This factor is multiplied by the written premium to arrive with the return premium. Short Period Rate (old short rate) A penalty method of calculating the return premium often used when the policy is canceled at the insured's request. It uses a table of factors that results in penalties that can be lower or higher than ''short rate (90% pro rata)'' depending upon the date of cancellation. Short Period Rate (90% pro rata) A penalty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
90% Pro Rata
An insurance policy may be canceled before the end of the policy period. This has the effect of ending the policy coverage on the date of the policy cancellation. Cancellation methods Three different calculation methods are commonly used. Cancellation methods are typically calculated using an online wheel calculator. Pro rata A non-penalty method of calculating the return premium of a canceled policy. A return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy. This factor is multiplied by the written premium to arrive with the return premium. Short Period Rate (old short rate) A penalty method of calculating the return premium often used when the policy is canceled at the insured's request. It uses a table of factors that results in penalties that can be lower or higher than ''short rate (90% pro rata)'' depending upon the date of cancellation. Short Period Rate (90% pro rata) A penalty me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Earned Premium
An insurance policy may be canceled before the end of the policy period. This has the effect of ending the policy coverage on the date of the policy cancellation. Cancellation methods Three different calculation methods are commonly used. Cancellation methods are typically calculated using an online wheel calculator. Pro rata A non-penalty method of calculating the return premium of a canceled policy. A return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy. This factor is multiplied by the written premium to arrive with the return premium. Short Period Rate (old short rate) A penalty method of calculating the return premium often used when the policy is canceled at the insured's request. It uses a table of factors that results in penalties that can be lower or higher than ''short rate (90% pro rata)'' depending upon the date of cancellation. Short Period Rate (90% pro rata) A penalty me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pro Rata
''Pro rata'' is an adverb or adjective meaning in equal portions or in proportion. The term is used in many legal and economic contexts. The hyphenated spelling ''pro-rata'' for the adjective form is common, as recommended for adjectives by some English-language style guides. In American English this term has been vernacularized to ''prorated'' or ''pro-rated''. Meanings More specifically, ''pro rata'' means: * In proportionality to some factor that can be exactly calculated * To count based on an amount of time that has passed out of the total time * Proportional ratioInvestigator web site Accessed May 29, 2008. Pro rata has a |
Pro Rata
''Pro rata'' is an adverb or adjective meaning in equal portions or in proportion. The term is used in many legal and economic contexts. The hyphenated spelling ''pro-rata'' for the adjective form is common, as recommended for adjectives by some English-language style guides. In American English this term has been vernacularized to ''prorated'' or ''pro-rated''. Meanings More specifically, ''pro rata'' means: * In proportionality to some factor that can be exactly calculated * To count based on an amount of time that has passed out of the total time * Proportional ratioInvestigator web site Accessed May 29, 2008. Pro rata has a |
Short Rate Table
Short may refer to: Places * Short (crater), a lunar impact crater on the near side of the Moon * Short, Mississippi, an unincorporated community * Short, Oklahoma, a census-designated place People * Short (surname) * List of people known as the Short Arts, entertainment, and media * Short film, a cinema format (also called film short or short subject) * Short story, prose generally readable in one sitting * '' The Short-Timers'', a 1979 semi-autobiographical novel by Gustav Hasford, about military short-timers in Vietnam Brands and enterprises * Short Brothers, a British aerospace company * Short Brothers of Sunderland, former English shipbuilder Computing and technology * Short circuit, an accidental connection between two nodes of an electrical circuit * Short integer, a computer datatype Finance * Short (finance), stock-trading position * Short snorter, a banknote signed by fellow travelers, common during World War II Foodstuffs * Short pastry, one which is rich in b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
