Premium Collections

When payment of premium is made to an authorised insurance agent,by policy holder such payment is deemed to be payment to insurer.Even if the insurance agent does not remit the said premium insurer,the insured would still be cover.On the other hand,if an unauthorized agent receives money from the insured of the general public,he does not make the insurer liable for his misdeed.Its is important to note that as long as the agent has not deposited the money with the insurance company,he continues to be responsible to the policy holder.