Clawback provision

Term · Insurance and risk management · MLC-T-INS-000790

A contractual clause allowing an insurer or company to recover money previously paid to an employee, agent, or executive. The provision is triggered by specific events, such as the early cancellation of a policy, a financial restatement, or employee misconduct. For insurance agents, this often involves the return of unearned commissions if a policy lapses within a specified period, such as the first year.

Table 1. Record
Identifier	MLC-T-INS-000790
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-000790",
  "term": "Clawback provision",
  "field": "Insurance and risk management",
  "definition": "A contractual clause allowing an insurer or company to recover money previously paid to an employee, agent, or executive. The provision is triggered by specific events, such as the early cancellation of a policy, a financial restatement, or employee misconduct. For insurance agents, this often involves the return of unearned commissions if a policy lapses within a specified period, such as the first year.",
  "url": "https://mlchart.com/terminology/insurance/clawback-provision/"
}

Record 566 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.