Account Current

Definition

  • A ledger used in insurance accounting to determine the individual performance of the insurance agents employed by an insurance company, in addition to outlining policy cancellations, commissions earned, and premiums paid.

Notes
A monthly or yearly ledger style report provided by an insurer to an insurance agent detailing policies, premiums, commissions, cancellations, and endorsements.

Synonyms
premiums, commissions, cancellations tally, agent performance matrix, monthly statement

Acronyms
AC

Related Terms and Acronyms

  • Expense Ratio Definition,
    • A method of calculating an insurer's operating efficiency.
  • Insurance Score Definition,
    • A score used by those in the insurance industry to determine how likely a claim will need to be paid out for an individual or entity.
  • Net Premium Definition,
    • The total earned by an insurer in insurance premiums, less the agent's commissions.
  • Premium Balances Definition,
    • A ledger kept by insurance companies recording insurance premiums.
  • Premiums Written Definition,
    • A sum of the premiums from all the policies that a company has written in a given period of time.
  • Retained Earnings Definition,
    • All of the profits or losses accumulated from prior years and from the present year's income statement, minus dividends paid to you.
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