Pro rata cancellation
Auto Insurance
Revocation of a policy by an insurance company that returns to the policyholder the unearned premium. There is no reduction for expenses already paid by the insurer for that time period.
- — Auto Insurance Glossary retrieved 2014-05-19
Homeowners Insurance
Revocation of a policy by an insurance company that returns to the policyholder the unearned premium. There is no reduction for expenses already paid by the insurer for that time period.
- — Homeowners Insurance Glossary retrieved 2014-05-16