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wizard_l
03-20-2011, 06:39 PM
This term was in the above exam question (found in TIA Ch. 11 Pg. 46). What does it mean?

booyah81
03-20-2011, 07:20 PM
I don't see a pg 46 in that chapter but I believe first dollar premium is premium that covers ground-up or first dollar losses. If it's like 2007 #45, it'll ask you to calculate premium for a policy with a deductible, in which case would no longer be first dollar but dollars above the deductible limit.