The purpose of the Short Term Insurance Ombudsman is to resolve disputes between members and insured consumers in an independent, impartial, cost-effective, efficient, informal and fair way. . More Details »
Premiums paid to the insurance company by policyholders in advance of the premium due dates. An interest discount is sometimes allowed to the policyholder for such advance payments. Advance premiums are subject to withdrawal or refund and hence are accounted for as deposits.