Definitions for "Reporting form"
A method of collecting premiums for exposures which are difficult to evaluate "before the fact." Instead of paying a flat premium, the insured pays a deposit, then submits periodic reports to the insurer, showing the status of the factors on which the premium is based. From these status reports, premiums are calculated and charged against the deposit.
a method of insuring stock when the values are likely to fluctuate over the course of the policy period. The monthly reports are added then divided by 12 to obtain the proper average to which the rate is applied and the proper premium is determined. Thus you only pay for what you have at risk.
The form for a periodic report to an insurer by an insured that covers the fluctuating values of stocks of merchandise, furniture and fixtures, and improvements and betterments. Premiums are adjusted annually, based on the average values insured during the policy period. An insured with fluctuating inventories might use this form.