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Subject Premium

Subject Premium

Definition

Subject Premium — in conjunction with retrospective rating, the portion of the premium applied to the retro formula. In reinsurance, the reinsurance rate is applied to the subject premium to produce the reinsurance premium. Subject premium is also known as the "base premium" or "underlying premium."
Links for IRMI Online Subscribers Only: IWC Retrospective Premium Factors; RF Retrospective Premium Formula

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