22 May Single Interest Insurance

Insurance coverage for only one of the parties sharing an insurable interest in a property. For instance, if a policyholder still owes money on his mortgage, but doesn’t have homeowner’s insurance, the lender may take out a single interest insurance policy to protect its own...

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22 May Return Premium

A portion of the premium returned to a policy owner as a result of cancellation, rate adjustment, or a calculation that an advance premium was in excess of the actual premium....

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