What Does Pure Premium Mean?
What does Pure Premium mean? Read on to discover the definition & meaning of the term Pure Premium - to help you better understand the language used in insurance policies.
Pure Premium
The amount of premium required to pay losses alone. An amount, usually a percentage, must be added to pay the cost of acquiring and managing the business in order to determine the manual rate.
We hope the you have a better understanding of the meaning of Pure Premium.
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