Minimum amounts of insurance. The term is usually used in reference to bodily injury and property damage limits that are either the lowest amount which can be written at the published or manual rates, the minimum amount of insurance an insurer is willing to underwrite, or the minimum amount of insurance required by law.
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The minimum amount for which a liability policy can be written, as dictated by the published rates or the law.

Basic medical coverage for doctor visits, diagnostic x-rays lab tests and emergency treatments. Usually written without deductibles and coinsurance provisions but benefits are limited to specified amounts.

Covered perils in a property insurance contract fire, lightning, windstorm, civil commotion, smoke, hail, aircraft, vehicles, explosion, and riot. The basic perils may vary by insurer.
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Covered perils in a property insurance contract: fire, lightning, windstorm, civil commotion, smoke, hail, aircraft, vehicles and explosions and riot.

A fraction of the standard premium. This portion is used for administrative costs and agents’ commissions.
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Insurance Premium paid at the beginning of the coverage period under a retrospective rating plan. It is percentage of standard premium and is designed to give the Insurer the money needed for administration expenses and the Agents commission plus on Insurance charge.
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RAW,MEDICAL,USA: Premium for workers’ compensation or life insurance that takes into consideration the following: an individual having an average expectation of loss, insurance company’s administrative expenses, and insurance agent’s commission. Also called standard premium rate .

All general Insurance contracts are governed by the following basic principles: (i) insurable interest (ii) utmost good faith (iii) indemnity (iv) subrogation (v) Contribution (vi) proximate cause.

Manual rate for a particular Insurance coverage which is adjusted by discounts or surcharge to reflect the individual circumstances of each insured Refer “Rate, Manual Rate.”
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UK: A fundamental rate applied to a whole class of policies of a given description and often published in rating guides. This rate is subject to modification depending on the characteristics of the particular risk under consideration.

The specification in a standard fire policy with columns for buildings, machinery, plant and other contents, stock and materials in trade, and miscellaneous.