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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Currently, Witvlei Meat is producing at full capacity and also announced an additional premium of 50 cent per kilogram above the announced daily price, to all producers that qualify to supply for the Woolworths free-range label.
"The Philippine Overseas Employment Administration (POEA) has not issued any circular or order authorizing recruitment agencies to collect the additional premium of P1,500.
The proposal includes an additional premium of EUR0.15 apiece to shareholders if the bidder manages to build a 95% voting stake in Cameleon by 31 December 2014.
It is premature for Congress to consider additional premium increases before the most recent increases are fully realized."
Additional premium charges for terrorism and other catastrophes at three cents and one cent per unit of exposure, respectively, apply to all non-excluded policies.
Second, if the policy is auditable, each named insured's exposures can be included and make the policy subject to additional premium charges.
They also called to continue paying the exceptional bonuses granted by the Ministry of Social Affairs to the unemployed personnel of JAL Group, in addition to the payment of an additional premium to the security staff in office.
In addition, companies are managing sales volumes by refusing to accept 1035 exchanges and limiting additional premium payments.
The term portion of coverage can be replaced over time using paid-up additional coverage through dividends (which aren't guaranteed) and additional premium payments, eventually resulting in an "all permanent" solution.
OGRA denied recovering additional premium from petrol consumers.
Other motorists also reaffirmed that the insurance rules do not favour themwhen hit by a third party, and they do not see the logic in having to pay the cost in renting a car or for an additional premium with their insurance companies.
Many of them were ready to pay an additional premium to the sales price if the building would be delivered vacant.

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