Variable closed:	2.85%
1 year closed:	2.94%
3 year closed:	2.69%
5 year closed:	2.79%
10 year closed:	3.44%

Mortgage Super Brokers > Library & Listings > Glossary > Definition: Account Current (AC)

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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Account Current

Synonyms:	agent performance matrix, monthly statement, premiums, commissions, cancellations tally
Acronyms & abbreviations:	AC
Notes:	A monthly or yearly ledger style report provided by an insurer to an insurance agent detailing policies, premiums, commissions, cancellations, and endorsements.
Filed Under:	insurance
Tags:	insurance

Definition of account current (AC)

account current (AC): 1. 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.

Related Terms and Acronyms:

expense ratio A method of calculating an insurer's operating efficiency.
insurance score 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 The total earned by an insurer in insurance premiums, less the agent's commissions.
premium balances A ledger kept by insurance companies recording insurance premiums.
premiums written A sum of the premiums from all the policies that a company has written in a given period of time.
retained earnings 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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