Past Due Accounts
Funds receivable or payable that have not been paid in a timely manner, commercial credit insurance protects an insured against declines in the value of receivables due to insolvency of a debtor. The insured may turn over to the insurer accounts that are up to 12 months past due or, by special endorsement, those that are 6 months overdue. For insurance purposes, these past due accounts will be treated as if they were accounts due from an insolvent company.
Popular Insurance Terms
Representative of an insurance company in soliciting and servicing policyholders. An agent's knowledge concerning an insurance transaction is said to be the knowledge of the insurance ...
Methods of handling policyholder dividends. In a participating life insurance policy, dividends are paid to the policy owner according to which of the following options is selected: applied ...
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