1. For policies of $100,001 - $1,000,000
Basic Premium
(1) Subtract $100,000 from policy amount.
(2) Multiply result in 1.(1) by $.00534 and
round to nearest whole dollar.
(3) Add $843 to result in 1.(2).
2. For Policies of $1,000,001 - $5,000,000
Basic Premium
(1) Subtract $1,000,000 from policy amount.
(2) Multiply result in 2.(1) by $.00439 and
round to nearest whole dollar.
(3) Add $5,649 to result in 2.(2).
3. For policies of $5,000,001 - $15,000,000
Basic Premium
(1) Subtract $5,000,000 from policy amount.
(2) Multiply result in 3.(1) by $.00362 and
round to nearest whole dollar.
(3) Add $23,209 to result in 3.(2).
Policies
Up To
&
Including
Basic
Premium
Policies
Up To
&
Including
Basic
Premium
Policies
Up To
&
Including
Basic
Premium
Policies
Up To
&
Including
Basic
Premium
4. For policies of $15,000,001 - $25,000,000
Basic Premium
(1) Subtract $15,000,000 from policy amount.
(2) Multiply result in 4.(1) by $.00257 and
round to nearest whole dollar.
(3) Add $59,409 to result in 4.(2)
5. For policies in excess of $25,000,000
Basic Premium
(1) Subtract $25,000,000 from policy amount.
(2) Multiply result in 5.(1) by $.00154 and
round to nearest whole dollar.
(3) Add $85,109 to result in 5.(2).
Premiums shall be calculated as follows for policies in excess of $100,000
