Green Card / International Motor Extension Premium
Charging additional premium for extending motor cover internationally.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Premium Receivable | Asset (+) | 35.00 | - |
| Written Premium — Motor Extension | Revenue (+) | - | 35.00 |
💡 Accountant's Note
International extensions (Green Card) are add-on premiums for short-term cover abroad. They are written at full value and recognized over the extension period.
Practitioner & Systems Framework
💻 ERP Architecture
Green Card extensions are issued as an endorsement to the main motor policy in the policy admin system. The Green Card certificate is generated as a standardised international document per the Green Card Bureau requirements. The additional premium is written at the endorsement date and recognised over the cover period. In Jordan, Green Card cover is managed through the Jordanian Motor Insurers' Bureau (JMIB), and the insurer must be a member to issue Green Cards.
⚠️ Audit Flags
Auditors confirm that the insurer is a JMIB member in good standing and authorised to issue Green Cards. Verify that Green Card premiums are paid to the JMIB for the foreign country coverage element, and that the insurer retains only its domestic portion. Test that the Green Card period does not exceed the policy period and that the premium rate is at least the minimum set by the JMIB.
📄 Required Documentation
JMIB membership confirmation, Green Card certificate (conforming to Council of Bureaux standard), endorsement premium calculation, and confirmation of any JMIB levy payment for the foreign country coverage element.
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Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.