Washington § 48.56.120 Cancellation of insurance contract—Return of unearned premiums.

Washington Statutes

§ 48.56.120 — Cancellation of insurance contract—Return of unearned premiums.

Washington § 48.56.120

Title 48INSURANCE

Ch. 48.56INSURANCE PREMIUM FINANCE COMPANY ACT

This text of Washington § 48.56.120 (Cancellation of insurance contract—Return of unearned premiums.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 48.56.120 (2026).

Text

(1)Whenever a financed insurance contract is canceled, the insurer shall return whatever gross unearned premiums are due under the insurance contract to the premium finance company for the account of the insured or insureds.

(2)In the event that the crediting of return premiums to the account of the insured results in a surplus over the amount due from the insured, the premium finance company shall refund such excess to the insured: PROVIDED, That no such refund shall be required if it amounts to less than one dollar.

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(1) Whenever a financed insurance contract is canceled, the insurer shall return whatever gross unearned premiums are due under the insurance contract to the premium finance company for the account of the insured or insureds.

(2) In the event that the crediting of return premiums to the account of the insured results in a surplus over the amount due from the insured, the premium finance company shall refund such excess to the insured: PROVIDED, That no such refund shall be required if it amounts to less than one dollar.