This glossary is for non-commercial educational purposes only. The
definition of the
terminology below is only a brief description and should not be considered factual or
the only definition possible. This information is only to help better inform you
of information related to liquidations.
The amount of premium that has been collected by an insurance company, from an insured, for the period of time after the insured's policy has been cancelled. This portion, is the portion of premium representing the un-expired portion of the policy term.
