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Unearned Premium Reserve |
Also found in: Acronyms | 0.02 sec. |
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Unearned Premium Reserve An account into which an insurer deposits unearned premiums, which are paid on insurance policies before they are due. For example, one may pay six months' worth of premiums in January instead of paying each month from January to June. Unearned premiums are listed as liabilities on an insurer's balance sheet and regulators thus require insurance companies to maintain reserves to refund these amounts if necessary. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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