Base Premium

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Base Premium

The premium for an insurance policy that is used to calculate the premium for reinsurance. It is also called the subject premium or the underlying premium.
References in periodicals archive ?
It is intended to apply to "Every authorized property/casualty insurer issuing a policy of insurance or contract of reinsurance covering losses resulting from a natural catastrophe to property located in this State, and receiving New York subject premiums.
The amount of the reserve will be equal to the property/casualty insurer's aggregate catastrophe load, included in the New York subject premiums, for the calendar year, net of any federal, state and local income tax incurred on the reserve.
BUSINESS WIRE)--March 5, 1999--A pool formed to finance workers' compensation reinsurance grew beyond initial expectations to reach almost $8 billion in gross subject premiums, putting participating life insurance and reinsurance companies at greater risk than expected, according to one of the pool's members, BestWire reported today.