A system used for fire insurance in some trades whereby the sum insured on stock represents the maximum amount at risk at any one time. A discount is allowed off the premium but no adjustment is made if the stock falls short of the maximum value.
The Rantings of the barely human.
A system used for fire insurance in some trades whereby the sum insured on stock represents the maximum amount at risk at any one time. A discount is allowed off the premium but no adjustment is made if the stock falls short of the maximum value.