The costs incurred by an Insurer in obtaining business. These may include commissions paid to agents and brokers, taxes, etc.
The costs incurred by an Insurer in obtaining business. These may include commissions paid to agents and brokers, taxes, etc.
Additional premium payable on a marine insurance open cover or policy when the insured goods are carried on a vessel which does not come within the scope of the Institute Classification Clause, usually because it is too old.