An amount of premium which will be charged (usually for an Excess of Loss Reinsurance contract), notwithstanding that the actual premium developed by applying the rate to the Subject Premium could have produced a lower figure.
See Deposit Premium.
An amount of premium which will be charged (usually for an Excess of Loss Reinsurance contract), notwithstanding that the actual premium developed by applying the rate to the Subject Premium could have produced a lower figure.
See Deposit Premium.