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WWW.convention.appendix A ASSIGNMENT OF UNEARNED PREMIUM, DIVIDEND & VOTING RIGHTS1. If the premium payer is any party other than the named insured, is all right, title, and interest to unearned premium,
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What is assignment of unearned premium?
Assignment of unearned premium is the transfer of unearned premium from the original policyholder to a new policyholder. This typically occurs when a policy is sold or transferred to a new owner.
Who is required to file assignment of unearned premium?
The new policyholder or owner of the policy is typically required to file the assignment of unearned premium.
How to fill out assignment of unearned premium?
The assignment of unearned premium form can usually be obtained from the insurance company or agent. The form must be completed with details such as policy number, original policyholder information, new policyholder information, effective date of assignment, and signatures from both parties.
What is the purpose of assignment of unearned premium?
The purpose of assignment of unearned premium is to ensure that the new policyholder is responsible for any remaining unearned premium on the policy, rather than the original policyholder.
What information must be reported on assignment of unearned premium?
The assignment of unearned premium form typically requires details such as policy number, original policyholder information, new policyholder information, effective date of assignment, and signatures from both parties.
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