NET PREMIUM
\nˈɛt pɹˈiːmi͡əm], \nˈɛt pɹˈiːmiəm], \n_ˈɛ_t p_ɹ_ˈiː_m_iə_m]\
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In general, any premium with a commission, or expenses, or dividends, or loss coverage subtracted. It is a general term that can have many different meanings. In particular, it is the premium minus agent's commission, or the premium portion required to pay expected future losses, or the premium amount minus appointed dividends.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.