Maximum Premium Rate Sample Clauses
The Maximum Premium Rate clause sets an upper limit on the amount an insurer can charge for premiums under an insurance policy. In practice, this means that even if circumstances change—such as increased risk or changes in coverage—the insurer cannot raise the premium above the specified maximum rate. This clause provides policyholders with cost predictability and protects them from unexpected or excessive premium increases during the policy term.
Maximum Premium Rate. Notwithstanding anything in this Agreement, the maximum hourly rate payable to a Technician, not including Meal Premiums, will not exceed three times (3X) the basic and/or negotiated hourly rate.
Maximum Premium Rate. In no event shall the application of this provision and Paragraph 4.4 of this Article result in total payment greater than double the straight-time hourly rate for hours worked on holidays or between 4:00 p.m. and midnight on December 24 and December 31, except as provided in Section 4.7(B) of this Article.