Common use of Risk Transfer Clause in Contracts

Risk Transfer. We act as agents for insurers for the collection and refunding of premiums. This means that premiums are treated as being received by insurers when received in our bank account. Premium refunds are treated as received by you when actually paid over to you. There are occasions where such transactions are restricted we will tell you if this is the case.

Risk Transfer. We act as agents for insurers for the collection and refunding of premiums. This means that premiums are treated as being received by insurers when received in our bank account. Premium refunds are treated as received by you when actually paid over to you. There are occasions where such transactions are restricted and we will tell you if this is the case.