A deposit premium. A premium paid at inception of the insurance with intention of adjustment to correct the premium later.
A deposit premium. A premium paid at inception of the insurance with intention of adjustment to correct the premium later.
(1) Term used interchangeably with the word “coverage” to denote the insurance provided under the terms of a policy. (2) Term used to indicate the existence of fire-fighting facilities in an area known as a “protected” area.