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§ 83-54-17. Insurer to refund unearned premiums within 60 days after termination of coverage; statement of refund provided to debtor

MS Code § 83-54-17 (2019) (N/A)
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(1) Within sixty (60) calendar days after the termination of creditor-placed insurance coverage, and in accordance with the formulas approved by the commissioner, an insurer shall refund any unearned premium or other identifiable charges.

(2) Within sixty (60) calendar days after the termination date of creditor-placed insurance coverage, the insurer or creditor shall provide to the debtor a statement of refund disclosing the effective date, the termination date, the amount of premium being refunded and the amount of premium charged for the coverage provided. No statement shall be required in the event that the policy terminates pursuant to Section 83-54-7(2)(d).

(3) The entire amount of premiums, minimum premiums, fees or charges of any kind shall be refunded if no coverage was provided.

Previous Section
§ 83-54-15. Policy forms, certificates of insurance, and schedules of premium rates to be filed with Commissioner of Insurance; disapproval of forms or schedules; schedules not to be excessive, inadequate, or unfairly discriminatory; withdrawal of approval of approved forms or schedules; approved forms and schedules deemed to be in compliance with laws of the state
Next Section
§ 83-54-19. Payment by insurer in the event of loss