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If we're talking about P & C insurors, SSAP 62R states that when payments are made for prospective reinsurance, both written premium and earned premium are reduced.
I take this to mean that the liability account 'Unearned Premiums' would not reflect any amount parenthetically for 'after deducting unearned premiums for reinsurance', but I don't have much confidence that I'm interpreting it correctly.
What else can I help you with?
Does the employer pays the premium for the COBRA coverage?
No, when Cobra goes into effect, the (former) employee pays the entire portion of the premium. Although possibly very expensive, the coverage is guaranteed and possibly at better rates than going out to buy individual coverage since it is a group plan.
What effect did news coverage of the civil rights movement have?
Television coverage let more people know about the movement.
If a father owned a car and the son took it for a ride and had an accident how much would that affect the son's premium when he gets his own insurance?
Well, for now it will effect Dad's. If the boy was issued tickets, and they are still on his record when he applys for coverage this will show up and he will be rated accordingly.
What will a decrease a revenue and a increase liability?
I can think of nothing that will do that in one transaction. Revenue generally does not effect your liabilities. Revenue is an Owners Equity account and most transactions in revenue effect that, not liabilities. (there is one exception and it is explained later on.)Expenses decrease revenue, which in turn decreases retained earnings which effects owners equity.Dividends Paid decrease retained earnings, which in turns also effects owners equity.The only time any "revenue" has an effect on liabilities is if it is an "unearned" revenue. An unearned revenue is a liability, however, it "increases" your liabilities and increases your assets at the same time. Once the unearned revenue is "earned" it then increases your "revenue" and you decrease your liability.
Would a DUI violation in 2000 that was not convicted until 2007 effect your premium or not because the violation itself was 7 years ago?
Your premium should go up when they rerun your license number usually when your policy renews or if you make any changes to your policy. Also some states like Massachusetts do not have to offer collision or comprehensive coverage once there is a DUI charge on a license operator
If involved in accident but not my fault will it effect my no claims bonus and insurance premium?
Yes
What is the periodic payments made to keep an insurance policy in effect called?
premium
How does a Passed ball effect a pitchers era?
it does not as any runs scoring as a result of a passed ball are unearned and so do not count towards the pitcher earned run average
Are Insurance companies liable to pay on default judgment is coverage was in effect?
yes
If you upgrade from liability auto insurance to full coverage how long before it goes into effect?
if you upgrade from liability to full coverage how long till it takes affect
What is the effect of a bonus issue on the share capital and share premium account?
Bonus shares increases the share capital while reduces the share premium account because amount of share premium is used to issue bonus shares.
What type of commercial gl coverage is available to someone who has a hall for rent?
The standard COMMERCIAL GERERAL LIABILITY policy is the correct poicy. It is commonly refered to as a lessors risk underwriting issue. Depending on the use, meaning who will be renting the hall will have a effect on underwrting premium. A risk that will rent a hall for business meetings, without alcohol will be a lower premium that one without. This answer only relates to liability issues, it does not relate to property issues
