Premium
The premium is the price paid by the policyholder for insurance cover and is central to the insurer’s obligation to bear agreed risks.
In insurance law, the premium is the contractual consideration owed for the insurer’s promise to cover specified risks. It may be paid periodically or as a single amount, and non-payment can affect cover, subject to the policy terms and mandatory consumer-protection rules. In Switzerland, premium duties are shaped by the insurance contract, supervisory rules, and the distinction between private insurance and social insurance. Premiums must be distinguished from deductibles, co-payments, fees, and reserves held by the insurer.