Posts Tagged ‘REBATE CLAUSE’

In the event of Gross Profit earned (or proportionately increased multiple thereof where the maximum Indemnity period exceeds twelve months) during the accounting period most nearly concurrent with any period of insurance as certified by the Insured’s Auditors, being less than the sum insured thereon, a prorata return of premium not exceeding 50 percent of the premium paid on such sum insured for ... Full story

In the event of Gross Profit earned (or proportionately increased multiple thereof where the maximum Indemnity period exceeds twelve months) during the accounting period most nearly concurrent with any period of insurance as certified by the Insured’s Auditors, being less than the sum insured thereon, a prorata return of premium not exceeding 50 percent of the premium paid on such sum ... Full story