Assessment Period

In assessable insurance, the period of time during which the insurance company has the right to determine whether or not it should charge an additional premium. Assessable insurance is an insurance policy in which a premium is paid up front, but in which the insurer reserves the right to require another premium to be paid if losses resulting from claims exceed the amount the policyholder contributed in the initial premium. To protect the policyholder, this determination must be made during the assessment period.

单词	assessment period
释义	Assessment Period Assessment Period In assessable insurance, the period of time during which the insurance company has the right to determine whether or not it should charge an additional premium. Assessable insurance is an insurance policy in which a premium is paid up front, but in which the insurer reserves the right to require another premium to be paid if losses resulting from claims exceed the amount the policyholder contributed in the initial premium. To protect the policyholder, this determination must be made during the assessment period.
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