What does Exportability of Premium Risk mean? Read on to discover the definition & meaning of the term Exportability of Premium Risk - to help you better understand the language used in insurance policies.
Exportability of Premium Risk
In multinational insurance programs, the exportability of premium refers to the percent of premium allowed by each jurisdiction (country) to be exported from a local policy to a nonadmitted (master) policy. Exportability of risk refers to the percent of exposure allowed by each jurisdiction (country) to be exported from a local policy to a nonadmitted (master) policy. Both of these vary by country. For example, India has 0 percent exportability, while both Germany and Canada allow 100 percent exportability.
We hope the you have a better understanding of the meaning of Exportability of Premium Risk.