What is the premium that includes all expenses incurred by the insurer besides the net premium called?

The correct term for the premium that encompasses all expenses incurred by the insurer, in addition to the net premium, is known as the gross premium. The gross premium includes not just the net premium, which is the amount required to cover the expected claims, but also any additional costs such as operational expenses, marketing, commissions, and other administrative costs. This total encompasses the financial needs of the insurer to maintain operations effectively while ensuring they can meet their future claim obligations. Understanding the gross premium is essential for anyone studying insurance, as it provides insight into how insurers price their policies to cover all necessary and anticipated costs.