Premiums shall be calculated as follows for policies in excess of $100,000:

  1. For policies of $100,001 – $1,000,000 Basic Premium (1) Subtract $100,000 from policy amount. (2) Multiply result in 1. (1) by $.00554 and round to nearest whole dollar. (3) Add $875 to result in 1.(2). 2. For Policies of $1,000,001 – $5,000,000 Basic  premium (1) Subtract $1,000,000 from policy amount. (2) Multiply result in 2.(1) by $.00456 and round to nearest whole dollar. (3) Add $5,861 to result in 2. (2). 3. For policies of $5,000,001 – $15,000,000 Basic Premium (1) Subtract $5,000,000 from policy amount. (2) Multiply result in 3. (1) by $.00376 and round to nearest whole dollar. (3) Add $24,101 to result in 3. (2). 4. For policies of $15,000,001 – $25,000,000 Basic Premium (1) Subtract $15,000,000 from policy amount. (2) Multiply result in 4. (1) by $.00267 and round to nearest whole dollar. (3) Add $61,701 to result in 4. (2) 5. For policies in excess of $25,000,000 Basic Premium (1) Subtract $25,000,000 from policy amount. (2) Multiply result in 5.(1)by $.00160 and round to nearest whole dollar. (3) Add $88,401 to result in 5.(2).