Additional Premium


Also found in: Acronyms.

Additional Premium

A premium on an insurance policy over and above the initial premium imposed at the beginning of the policy. An additional premium may be assessed if the insured's risk is found to have increased significantly.
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Private entities like Bharat Diamond bourse, Tata Company, TCG, EIH, Paraini Developers, Jet Airways, Raghuleela Real estate, and Starlite have also paid its additional premium amount on time.
Meanwhile, PSO said that it imported petrol on additional premium because of CNG strike.
However, an additional premium will be paid over the first five years to enable the new treatment centres to offset the extra costs they incur, as a result of speedy set-up and rapid staff acquisition demanded in the interests of patients.
One addition to Stacey Giulianti's fine article on dealing with an insurance misrepresentation defense (April) is to consider if the insurer promptly refunded the premium upon learning of the alleged misrepresentation (some cases even involve accepting additional premium payments).
The insurers will be able in charge an additional premium for the coverage.
The property manager may elect either to pay an additional premium for the increased terrorism coverage or reinstate the terrorism exclusion in full for the remainder of the policy period.
50 per passenger, while those requiring cover of USD500m to USD1bn will be charged an additional premium of USD0.
Beneficiaries could also elect to enroll in catastrophic coverage for an additional premium that would pay for drug costs in excess of $4,000 per year (a still very high average of $334 a month).
Sometimes this additional premium cost is greater than the after-tax cost of deducting the out-of-pocket costs of the casualty.
Vijayan said that informing the policyholders of additional premium while sending the policy document is considered as a violation of "fair business practices" and "regulatory provisions.
ABA members wishing to protect their assets from unfunded liability judgments may purchase personal umbrella cover age that includes uninsured/underinsured motorist coverage at no additional premium and with discounted pricing.
The vehicle is priced with an additional premium of pounds 500 over the standard but comes with TEKNA-styled 16" alloy wheels and rear privacy glass.

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