MLchartDataset catalogue

Maximum premium

Term · Insurance and risk management · MLC-T-INS-002149

The highest possible premium that an insured might pay under a retrospective rating plan or a participating policy, regardless of the actual loss experience. This cap protects the insured from excessively high premium adjustments if losses are much worse than anticipated. It provides a ceiling on the final cost of insurance for the policy period.

Table 1. Record
IdentifierMLC-T-INS-002149
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002149",
  "term": "Maximum premium",
  "field": "Insurance and risk management",
  "definition": "The highest possible premium that an insured might pay under a retrospective rating plan or a participating policy, regardless of the actual loss experience. This cap protects the insured from excessively high premium adjustments if losses are much worse than anticipated. It provides a ceiling on the final cost of insurance for the policy period.",
  "url": "https://mlchart.com/terminology/insurance/maximum-premium/"
}

Record 2,128 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.