Guaranteed cost premium

{
  "id": "MLC-T-INS-001688",
  "term": "Guaranteed cost premium",
  "field": "Insurance and risk management",
  "definition": "The fixed amount of premium paid by an insured for a policy, which is determined at the beginning of the coverage period and does not change based on the actual loss experience. This premium structure offers financial certainty to the policyholder, as there are no subsequent adjustments or additional charges. It is a common feature of many commercial insurance policies.",
  "url": "https://mlchart.com/terminology/insurance/guaranteed-cost-premium/"
}