What is MINIMUM RETROSPECTIVE PREMIUM?

A retrospective rating plan’s premium. No matter what losses occur under a given plan, this is the smallest amount the insured can pay.

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Related Legal Terms
MAXIMUM RETROSPECTIVE PREMIUM, RETROSPECTIVE PREMIUM, MINIMUM PREMIUM, RETROSPECTIVE AGGREGATE LOSS COVER, EXCESS LOSS PREMIUM FACTOR, RETROSPECTIVE FINITE POLICY, RETROSPECTIVE RATING, NET PREMIUM, FAIR PREMIUM, RETROSPECTIVE RATE DERIVATION


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