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The dictionary of terms of insurance
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Premium

The amount payable by the insurant to the insurer for accepting by the latter of the commitment to indemnify the policy holder respectively in the event of occurrence of an insured loss.

Premium reserve

According to the terms of general reinsurance, the assigning party has the right to retain a portion of the reinsurance premium to create a reserve for coverage of losses and premium repayments.

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In case of disparity between information presented in Armenian, Russian and English the Armenian variant is preferable.