Definition of "Short rate table"

Frank Free real estate agent
Frank Free, Real Estate Agent Lake Realty

Display of percentage of earned premiums as a function of the time in days for term property insurance policies originally written for one year or longer. These tables are used to compute the refund or the excess of the paid premium above the customary short rate for the expired term in the event the insured cancels the policy (makes a short rate cancellation).

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