Insurance Premium Trust Account

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From Concept to Practice Insurance Trust Account Management

Premium payments and company remittance are indeed critical to any insurance agency. But is this all trust account management is about Insurance Code Mandates

Link: https://www.insurancejournal.com/magazines/mag-ideaexchange/2012/08/06/257776.htm

Actived: Sunday Aug 5, 2012 (6 years ago)

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Insurance Fiduciary Duty and Trust Accounts - ijacademy

Insurance Fiduciary Duty and Trust Accounts P C insurance agents brokers are mandated by state laws to receive transacted premiums in a fiduciary capacity that is not as owners but trustees or custodians of premium funds.

Link: https://www.ijacademy.com/insurance-fiduciary-duty-and-trust-accounts

Actived: Sunday Apr 21, 2019 (4 days ago)

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What is trust account definition and meaning

1. An account in which a bank or trust company acting as an authorized custodian holds funds for specific purposes such as to pay property taxes and or insurance premiums associated with a mortgaged property.

Link: http://www.businessdictionary.com/definition/trust-account.html

Actived: Monday Apr 22, 2019 (3 days ago)

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Premium Fund Trust Account Commerce Bank

Insurance agents can easily manage premium funds with a Premium Fund Trust Account from Commerce Bank. A Premium Fund Trust Account makes it simple to handle the unique requirements surrounding collected insurance premiums allowing you to keep track of your funds while avoiding costly complications.

Link: https://commercebank.com/business/checking/premium-fund-trust-account

Actived: Sunday Apr 21, 2019 (4 days ago)

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What Is Insurance Trust Accounting Technology

Small agencies receive and disburse on the average $3 to $5 million annual premiums. Medium size agencies annual premium is close to $15 million or more while large agencies financial traffic through their trust bank accounts may exceed $50 million a year.

Link: https://chrismarinescu.blogspot.com/

Actived: Monday Apr 8, 2019 (16 days ago)

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Rule Chapter 540 Premium Trust Account Fiduciary Duties

02-031 Chapter page 2 . SECTION 4. REQUIREMENTS FOR PREMIUM TRUST ACCOUNTS . A. A premium trust account shall be in the name of the insurance producer or the

Link: https://www.maine.gov/pfr/insurance/legal/rules/pdf/540_final_rule.pdf

Actived: Saturday Apr 13, 2019 (12 days ago)

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