Rule 22 Premiums and deductibles
Premiums for the policy year to come are decided annually by the Association.
The premium is due for payment in four equal instalments on 20 February,
20 May, 20 August and 20 November.
Should the period of insurance commence during the current policy year, a pro rata premium shall be paid at the time when the period of insurance begins, for the period until the next due date. Thereafter the premium shall be paid as stated in the second paragraph.
Deductibles for the policy year to come are decided annually by the Association. There shall be one deductible per event unless different types of liabilities are involved in which case each type of liability shall carry one deductible.