Insurers hereon agree to give low claim bonus 5% on gross premium of current policy subject to the loss ratio of this policy during 12 months from inception date is not exceeding 45% and continuing renew this policy with Aon and existing insurers.
Loss Ratio shall mean the ratio that paid losses bear to the Premium paid under this Policy.
No credit against gross premium shall be allowed until all losses occurring during the Policy Period have been finalized and closed. In addition, the insured have confirmed in writing that no further claim will be made under this Policy.