Deposit Premium definition

Deposit Premium means a provisional premium which is agreed upon in the event of it being impossible at the due date of the premium to determine the exact premium, and which represents a reasonable estimate of the premium;

Deposit Premium means the estimated amount determined for each Member Entity necessary to fund each layer of coverage for each Policy Year of each Program of PARSAC.

Deposit Premium means that amount to be paid by each Participant for each program year as determined by the Board in accordance with Article III, Section C of this MPD.

Examples of Deposit Premium in a sentence

• If the resulting earned premium is less than the Deposit Premium, if any, then We will return the excess to the Policyholder.

• If the resulting earned premium is greater than the Deposit Premium, if any, then We will bill the Policyholder for the additional premium.

• Participation in either Program shall be a minimum of three years and the Term shall be renewed for subsequent one- year periods at the commencement of each Program Year upon payment of the applicable Deposit Premium, unless termination, withdrawal, or expulsion occurs pursuant to Articles XXIII and XXIV of this Agreement.

• This will be based on the revised Premium Rates notified to You pursuant to Clause 3.9 where the Deposit Premium is payable in respect of an Accounting Period commencing on a Rate Review Date.

• Public Entities shall become new Member Entities as of the effective date of coverage indicated on the Program Declarations Page and upon payment of the Deposit Premium.

More Definitions of Deposit Premium

Deposit Premium means the estimated amount determined for each Member Entity necessary to fund each layer ofcoverage for each Policy Year ofeach Program of PARSAC.

Deposit Premium shall have the meaning set forth in Section 3.1(a)(i) hereof.

Deposit Premium has the meaning set forth in Section 2.1(b)(i).

Deposit Premium means the amount determined by the Executive Committee annually, as necessary to fund each joint protection program of the Authority.

Deposit Premium is defined in Section 2.6(b).

Deposit Premium means those funds charged for the purpose of self-insured coverage.

Deposit Premium means the annual dollar amount determined by the Board of Directors or Executive Committee which is payable by each Member as its established share of the funding required to cover the financial obligations of each Coverage Program in which the Member participates.