[I008]

immature policies

Liability policies that are written on a claims-made basis are not considered to be mature until they have been in effect for five uninterrupted years as claims-made. Prior to that, claims are considered not to be fully developed. The premiums for these policies are given a credit that decreases yearly until it disappears after five years.

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100