Far West Insurance Company, in Liquidation

SURETY BONDS - UNEARNED PREMIUM

Frequently Asked Questions

Question: How will Far West deal with unearned premium?

Answer: A request for refund will need to be submitted on a proof of claim form. First year’s premium for a multi-year bond, is fully earned when written. Premium for second and subsequent terms is prorated subject to an earned minimum of $100 for commercial bonds and $300 for contract bonds. This is consistent with Far West's rate filings and SAA rate manuals.