Preauthorized Check Plan
Plan for the automatic payment of premiums due through drafting by the insurer of the policyowner's preauthorized bank account. Usually, the insurer drafts this account on a monthly basis for the premium payment owed. Studies show that persistency is highest when premium payments are made through bank draft plans.
Popular Insurance Terms
Coverage for bodily injury, property damage or destruction, for which the insured garage and/or its representatives become legally liable resulting from the operation of the garage. For ...
Insurance company that does not utilize the rates and policies of a rating bureau. ...
Membership organization of state insurance commissioners. One of its goals is to promote uniformity of state regulation and legislation as it concerns the insurance industry. The NAIC ...
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