Coverage classification
- Form type
- Endorsements
- Topics
- Premium
- Product lines
- Commercial General Liability
Compare Minimum earned premium forms
| Form | Intent | Amount | Cancellation or timing |
|---|---|---|---|
Next Insurance US CompanyMinimum Earned Premium Endorsement - Washington NXUS-GL-2072.1-WA-0826 Commercial General Liability | Sets a minimum earned premium for the policy. | The minimum amount is left blank in the specimen. | The minimum is not prorated when the insured cancels, and does not apply when the insurer cancels. |
Benchmark Insurance CompanyMinimum Earned Premium BIC 3020 (04/08) Commercial General Liability | Sets an amount fully earned at policy inception. | The greater of 25% of annual premium or $500. | The stated amount is fully earned at policy inception. |
Notable clauses
“If we cancel this policy for any reason, the minimum earned premium shall not apply.”
Next Insurance US Company · Minimum Earned Premium Endorsement - Washington · NXUS-GL-2072.1-WA-0826
Insurer cancellation. The form distinguishes insurer cancellation from cancellation by the insured.
“twenty-five percent (25%) of the annual premium or $500, whichever is greater”
Benchmark Insurance Company · Minimum Earned Premium · BIC 3020 (04/08)
Minimum amount. This form uses a percentage with a dollar floor, both earned at inception.
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