Premium Collections

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