Idaho Code 41-1803 – “Premium” Defined
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 41-1803
- Contract: A legal written agreement that becomes binding when signed.
"Premium" is the consideration for insurance by whatever name called. Any "assessment," or any "membership," "policy," "survey," "inspection," "service" or similar fee or other charge in consideration for an insurance contract is deemed part of the premium; provided that producer fees charged pursuant to section 41-1030, Idaho Code, shall not be considered a premium unless the fee relates to a surplus line policy.
