Every year your client will send us an accurate list of eligible employees. This helps ensure the correct premiums are charged and employees joining and leaving can be accounted for. This is referred to as ‘renewal.’
We normally guarantee unit rates on policies for two years. Just before the end of second year we review the rate against the list of details we receive. This allows us to check that the cost is still appropriate for the cover we’re providing. This bi-annual check is commonly referred to as a rate review.