Cancelling an Agency Bill policy involves:

  • Processing the policy cancellation
  • Creating the cancellation invoice
  • Receiving the return payment from the company
  • Issuing the return premium check to the client

Although some companies will simply credit the accounts current, this process outlines the company payment when a single return premium invoice amount is issued by the company to the agency.

The same steps outlined can also be used for credit endorsements due to a reduced premium.

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Video: Agency Bill – Cancel a Policy and Payment Processing