A policyholder contracts with a lender to pay the insurance premium on his/her behalf. The policyholder agrees to repay the lender for the cost of the premium, plus interest and fees.

(a) Entire periodic premium for a particular type of Insurance, consisting of the net premium plus loadings (b) Premium for participating Insurance before deduction for anticipated dividends.

The change in GWP from one period to the next.

The initial premium on all policies not cancelled or expired.

The amount of premium that a Lloyd’s name may write in a given year, determined by the size of the Name’s wealth, deposit and whether or not incorporated.
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The income of an insurer from premiums.

The maximum total of premium that may be accepted on behalf of an underwriting member of Lloyd’s. The limit is governed by the underwriter’s means and the amount of the premium deposit he has made.

Also called a front end load. Refers to the fraction of the premium amount that goes to cover insurer expenses.