Premium is increased at times specified in the policy, based on a predetermined attained age, or number of policy years in force.
Premium is increased at times specified in the policy, based on a predetermined attained age, or number of policy years in force.
A clause in a marine insurance policy whereby the insurer accepts liability for charges incurred by the insured in seeking to preserve his property from loss, or to minimise a loss that would be covered by the policy. The insured is said to sue and labour for the protection of his property.