Minimum and deposit premium (M&D)

{
  "id": "MLC-T-INS-002194",
  "term": "Minimum and deposit premium (M&D)",
  "field": "Insurance and risk management",
  "definition": "The lowest premium amount an insurer will accept for a policy, paid at the beginning of the policy period. This initial payment is often an estimate based on projected exposures, and it serves as a non-refundable floor for the policy's cost. If the final audited premium is lower than the M&D, no refund is issued to the policyholder.",
  "abbreviation": "M&D",
  "url": "https://mlchart.com/terminology/insurance/minimum-and-deposit-premium-m-and-d/"
}