The portion of the premium calculated to enable the insurer to pay losses and in some cases, allocated claim expenses or the premium arrived at by dividing losses by exposure and in which no loading has been added for commission, taxes and expenses.
The Rantings of the barely human.
The portion of the premium calculated to enable the insurer to pay losses and in some cases, allocated claim expenses or the premium arrived at by dividing losses by exposure and in which no loading has been added for commission, taxes and expenses.