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GAREAT’s premium rates

The terrorism rates charged by Insurers are different to GAREAT’s premium rates. GAREAT’s premium rates are reinsurance premium rates and not insurance premium rates.    

The GAREAT premium rates in respect of the “Large Risks” section vary depending on the amount of the sums insured, and these rates apply to the Property Damage premiums under the policies ceded to GAREAT (with the exception of Nuclear risks, for which a fixed rate applies to the Property Damage premiums regardless of the amount of the sums insured).   

The GAREAT premium rates in respect of the “Small and Medium-sized Risks” section vary depending on the category of the risks ceded and on the segments of the sums insured: they apply to the premiums collected by the cedant in the category in question, from which are deducted, where applicable, the premiums ceded to the “Large Risks” section.