Minimum Premium definition

Minimum Premium means the fixed cost chargeable to an employer, independent of the claims costs of the employer during the year of experience.

Minimum Premium. The Premium amount specified as such in Section 1.

Minimum Premium means the amount of Rs.50/-.

Examples of Minimum Premium in a sentence

• The Participants shall charge no less than the applicable Minimum Premium Rate (MPR) for Credit Risk.

• There will not be any refund of premium for any cancellation of Policy (either by You or by Us) if You have paid the Minimum Premium only or if a claim has been made on this Policy.

• If this Insurance shall be cancelled by the Assured the Underwriters shall retain the customary short rate proportion of the premium hereon, except that if this Insurance is on an adjustable basis the Underwriters shall receive the Earned Premium hereon or the customary short rate proportion of any Minimum Premium stipulated herein whichever is the greater.

• As premium for each excess layer of reinsurance coverage provided by this Contract, the Company shall pay the Reinsurer a premium equal to the product of the following (or a pro rata portion thereof in the event the term of this Contract is less than 12 months), subject to a minimum premium of the amount, shown as "Minimum Premium" for that excess layer in Schedule A attached hereto (or a pro rata portion thereof in the event the term of this Contract is less than 12 months): 1.

• Minimum Premium The minimum premium applicable for vehicles specially designed or modified for use of the blind, handicapped and mentally challenged persons will be Rs.25/- per vehicle.

More Definitions of Minimum Premium

Minimum Premium means the minimum amount paid by the Insured to the Insurer as consideration, calculated on the basis of Projected amount of Insured Receivables arising from despatches during the period of Cover initially submitted by the Insured under this Agreement specified in the Schedule of Particulars and is non-refundable;

Minimum Premium. The Minimum Premium, as stated in Section 1. Declarations, must be paid prior to the termination date if this Policy is terminated prior to the end of the Policy Year. The Minimum Premium requirement only applies if this Policy is terminated prior to the end of the Policy Year. Reimbursements under this Policy may be limited and coverage under this Policy may be rescinded entirely if the Minimum Premium is not paid. If this Policy terminates prior to the end of the Policy Year and the Minimum Premium has not been paid within 30 days following the termination date, the Company may (at its option): (1) offset the shortfall in the actual premiums paid against any claims submitted for reimbursement; (2) rescind this Policy; or (3) seek the required Minimum Premium through any legal remedy. If payment of the Minimum Premium in full is not made within this thirty-day period, Alliant will be entitled to assess monthly a late payment fee equal to 7% per annum of the outstanding balance, plus any reasonable expenses including, but not limited to, collection agency fees, bank fees, and legal fees. Aggregate Stop Loss Factor Alliant reserves the right to make adjustments in the Aggregate Stop Loss Factor as of the date of any change in the Plan or as of the date of any other change in factors bearing on the risk assumed, including but not limited to:

Minimum Premium. $500,000 REINSTATEMENT: One full reinstatement with additional premium calculated pro rata as to amount and 100% as to time.

Minimum Premium. $162,000 (National Pool: $115,470; New York Pool: $46,530). ------- The National Pool consists of: Home State Insurance Company (40%); Quaker City Insurance Company (25%); Pinnacle Insurance Company (20%); and Xxxxxxxxx Insurance Company (15%). The New York Pool consists of: New York Merchant Bakers Insurance Company (85%); Home Mutual Insurance Company of Binghamton, New York (15%). Reinsurers Effective January 1, 1997: ------------------------------------ % FEIN NAIC - Signet Star Reinsurance Company 10.000% 00-0000000 32603 Wilmington, Delaware Transatlantic Reinsurance Company 10.000% 00-0000000 00000 Xxx Xxxx, Xxx Xxxx Underwriters Reinsurance Company 40.000% 00-0000000 22314 Concord, New Hampshire ------- Sub-Total: 60.000%

Minimum Premium has the meaning given thereto in Section 5.2.1;

Minimum Premium. A minimum premium of $1 per item and $15 per Schedule applies. This minimum is in addition to the minimum premium for the policy to which the endorsement is attached. Rounding: All premiums are rounded to the nearest dollar and are not subject to discounts or surcharges. Refer to Inland Marine Personal Property Rates for available limits, annual rates and optional deductibles. BLANKET COVERAGE

Minimum Premium means the minimum amount we will charge to cover your goods for any period of time.