Stipulated Premium Insurance
A form of assessment insurance for which a regular premium is charged. In addition to paying the regular stipulated premium, an insured and other members of a mutual assessment company may be subject to an additional assessment premium to make up for underwriting losses.
Popular Insurance Terms
When people think of home insurance policies, they usually only think about the obvious coverage of its house structure. But that, known as Dwelling Insurance, is only one of the coverage ...
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Statement regarding an insured's retention of low-severity risks because they are not catastrophic, and can be absorbed without having a dramatic effect on the financial structure of a ...
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