Cayman Insurance Centre
Phone: Gen: (345) 949-4657; Health: (345) 949-3930
Email:
Website: http://www.cic.com.ky
Phone: Gen: (345) 949-4657; Health: (345) 949-3930
Email:
Website: http://www.cic.com.ky
A premium paid in advance as a deposit when it is not practicable at the time of placing the risk to assess the final premium. It is usual for a provision to be made at the time of placing to allow for adjustment on expiry of the policy. In some cases the deposit is specified as a minimum premium, in which case the adjustment is made only if the final premium exceeds the deposit premium.