Thank you for choosing Collaborative Insurance Solutions, LLC as your independent risk management partner. As an independent insurance broker agency, our financial workflows are tightly integrated with the underlying compliance architectures of our third-party insurance company partners. This Refund Policy clarifies the terms governing premiums, policy cancellations, and fee structures.
1. PREMIUM PAYMENTS AND BROKERAGE FEES
All payments for active insurance policy premiums are typically directed directly to the issuing insurance carrier or handled via secure escrow frameworks. Any agency broker fees, consultation fees, or administrative charges applied directly by Collaborative Insurance Solutions, LLC are communicated transparently before policy binding and are non-refundable once the policy document is executed.
2. POLICY CANCELLATIONS AND RETURN PREMIUMS
If you choose to cancel your insurance policy prior to its official expiration date, the process is bound by the carrier's policy provisions:
- Short-Rate Adjustments: Certain commercial lines or specialized property coverages may be subject to short-rate cancellation adjustments by the carrier, meaning a penalty fee may be deducted from the unused premium amount by the carrier.
- Pro-Rata Refunds: Standard calculations return the exact proportional unearned premium for the remainder of the policy period.
- Non-Refundable Minimum Premiums: Selected policies feature a "Minimum Earned Premium" clause, meaning a set minimum amount is withheld by the carrier regardless of how early the policy is cancelled.
3. REFUND DISBURSEMENT PROCESS
Once a cancellation request is legally processed, signed by the named insured, and approved by the underlying insurance carrier:
- The carrier will issue the unearned premium return check either directly to the insured or through our agency accounts.
- Collaborative Insurance Solutions, LLC will process and dispatch any received carrier refunds to the client within thirty (30) business days from the official receipt of funds from the carrier.
- Refunds cannot be issued in cash; they are disbursed strictly via corporate check or original electronic payment methods.
4. CONTACT FOR COMPLIANCE AND DISPUTES
For any immediate clarity regarding pending policy refunds, cancellation structures, or billing adjustments, please contact our administrative desk at 508-454-3493 or via email at daviddlugasch@collabsolutionsllc.com.