Typically speaking with most insurance companies issuing bonds, a pro-rated refund is provided effective date of court order releasing bond.
We often have requests from guardians asking to cancel a bond. Once an Ohio probate court guardianship bond is issued, the insurance carrier - and the guardian - are on the hook until the court issues an order discharging bond. Insurance carrier is prohibited from canceling bond until court orders discharged. Unlike most other insurance and bonds, a principal cannot simply request the bond be terminated.
Simple solution: Just email us the court order discharging bond, and we'll submit to carrier for pro-rated refund (after the first year). First year premium is always fully earned upon issuance.