Let's assume an annual policy written on 7/1/13 with a WP of $1200. The premium is evenly distributed to each month. The policy gets cancelled on 1/1/14. How would we calculate the WP to 2013 and 2014.
1) 13: WP = 600
14: WP = 0
2) 13: WP =1200
14: WP = -600
Thanks!
1) 13: WP = 600
14: WP = 0
2) 13: WP =1200
14: WP = -600
Thanks!
Q: Written Premium with Cancellation
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