- 5(1) (except in62 ICOBS 62 and CASS 5) 16(in relation to a general insurance contract) the consideration payable under the contract by the policyholder to the insurer.
- (2) (except in62
and CASS 5) 16(in relation to a long-term insurance contract) 25the consideration payable under the contract by the policyholder to the insurer25; (except in SUP 16.8 (Persistency reports from insurers)) a premium is a regular premium if it is one of a series of payments under the contract:
- (i) which are payable on dates that are certain or ascertainable at the time the contract is made;
- (ii) which are payable over a period that exceeds one year in length; and
- (2A) (in62 ICOBS 62 and CASS 5) as in (1) and (2) except that 'insurance undertaking' is substituted for 'insurer' (except where 'insurer' is used in the heading to SUP 16.8).16