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The minimum premium is a deposit premium charged in advance subject to adjustment and usually applied to stocks and storage policies as sum insured is changable during the course of the policy period.
for example/ in strage policy sometimes called a declaration policy intial prmium charged as follows
sum insured multiply by insurance rate by75% ( subject to adjustment at the end of the policy period.)
i.e75% of the total premium is a minimum premium.
note /premium adjustment depends on the actual amounts declared by the insured at the end of the policy period.
Thanking You.
The least amount of premium to be charged for providing a particular insurance coverage. The minimum premium may apply in any number of ways such as per location, per type of coverage, or per policy.
هل تحتاج لمساعدة في كتابة سيرة ذاتية تحتوي على الكلمات الدلالية التي يبحث عنها أصحاب العمل؟