Adjustment of premium. Where the premium in whole or part is provisionally based on estimates provided by the insured, the insured will keep accurate records and declare such information as the insurer requires within one (1) month of the expiry of the period of insurance. The premium will then be adjusted and any difference paid by or allowed to the insured as the case may be but subject to any minimum premium that may apply. The insurer reserves the right to request that the insured supplies an auditor’s certificate with such calculations as are subject to adjustment attesting the accuracy thereof. It is a condition precedent that that all adjustable premiums due to the insurer are paid within ninety (90) days of expiry of each period of insurance.
Adjustment of premium. Where the premium in whole or part is provisionally based on estimates provided by the insured, the insured will keep accurate records and declare such information as the insurer require within three (3) months of the expiry of the period of insurance. The premium will then be adjusted and any difference paid by or allowed to the insured as the case may be but subject to any minimum premium that may apply. The insurer reserves the right to request that the insured supplies an auditor’s certificate with such calculations as are subject to adjustment attesting the accuracy thereof.
Adjustment of premium. As Premiums for items 1, 2, 5, 6 and 7 are provisional, the Premium is subject to adjustment on expiry of each Period of Insurance as follows:
Adjustment of premium. If, within twelve (12) months of each of the annual anniversary dates of this policy, the Insured shall file with the Company a Standard Premium Adjustment Application Form showing as respects the immediately previous annual period of this policy that the Gross Profit earned during the Insured’s financial year most nearly concurrent with such immediately previous annual period of this Coverage as certified by the Insured’s auditors, or a multiple thereof to coincide with the Indemnity Period if this exceeds twelve (12) months, was less than the Limit of Liability specified for this Coverage in the Declarations, then the Company will allow, in respect of the difference, a return premium to the Insured not exceeding 50% of the premium paid by the Insured under this Coverage for the immediately previous annual period.
Adjustment of premium. If, within twelve (12) months of each of the annual anniversary dates of this policy, the Insured shall file with the Company a Standard Premium Adjustment Application Form showing as respects the immediately previous annual period of this policy that the Gross Profit earned during the Insured’s financial year most nearly concurrent with such immediately previous annual period of this Coverage as certified by the Insured’s auditors, or a multiple thereof to coincide with the Indemnity Period if this exceeds twelve (12) months, was less than the Limit of Liability specified for this Coverage in the Declarations, then the Company will allow, in respect of the difference, a return premium to the Insured not exceeding 50% of the premium paid by the Insured under this Coverage for the immediately previous annual period. In the event of loss originating under this Coverage during the term of the policy the premium for the full term of the policy on the full amount paid or payable for such loss shall be regarded as earned and no return premium shall be made in respect thereof. The Company reserves the right to inspect the Insured’s books and records for verification of any statement filed for the purpose of adjusting the premium for this Coverage.
Adjustment of premium. This clause shall apply only where it is mentioned in the schedule that the premium of this policy is subject to adjustment. The final premium due under this policy shall be adjusted by applying the rate of premium stated in the schedule to the turnover of the Insured’s income which will be exchanged into US Dollars at the end of the Period of Insurance at the representative rate of exchange of the US Dollar in the Bank of Israel. The Policyholder shall pay to the Insurer and the Insurer shall return to the Policyholder, as the case may be, the difference between the provisional premium and the final premium due subject to the minimum premium, if any, stated in the schedule.
Adjustment of premium. If, within twelve (12) months of each of the annual anniversary dates of this policy, the Insured shall file with the Company a Standard Premium Adjustment Application Form showing as respects the immediately previous annual period of this policy that the Gross Profit earned during the
Adjustment of premium. A. The premium charged at the inception of each policy year is an advance premium. When we receive updated insurable values from you or when we determine updated insurable values through an audit or claim adjustment, we will determine an adjusted premium for this insurance.
B. If the adjusted premium is less than the advance premium, we will return the excess premium to you. Such excess premium will not exceed 75% of the advance premium.
C. If the adjusted premium is greater than the advance premium, we will charge the additional premium based on your reports of value.
Adjustment of premium. If the premium for any section of this policy has been calculated on any estimated figures, the Insured shall, after the expiry of each period of twelve (12) consecutive months from the inception date or anniversary date, furnish the Company with such particulars and information as the Company may require for the purpose of recalculation of the premium for such period. Any difference shall be paid by or to the Insured as the case may be.
Adjustment of premium. If the premium for any section of this policy has been calculated on estimates furnished by the insured, the insured shall keep an accurate record containing all particulars relative thereto and shall at all times allow the company to inspect such record. The insured shall after the expiry of each period of insurance furnish the company with such particulars and information as the company may require. The premium for such period shall thereupon be adjusted and the difference paid by or to the insured as the case may be (subject to any minimum premium agreed).
