Definitions for "Basic Premium"
A percentage of the standard premium used to determine the premium for a workers' compensation risk, utilizing the retrospective rating plan that permits adjustment of the final premium for a risk on the basis of the loss experience of the insured during the period of protection, subject to maximum and minimum limits.
A part of the total premium that covers the initial administrative expenses the insurance company incurs while making your policy.
A percentage of the standard premium that covers the initial administrative expenses the insurance company incurs while designing your policy.
Keywords:  prime, base
Prime de base