Net direct premium definition

Net direct premium means gross direct written premium less return premium on each canceled contract, regardless of assumed or ceded reinsurance, that is written on property in this state, as defined by the board of directors.
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Net direct premium means gross direct written
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Net direct premium means gross direct premiums, including policy and membership fees less return premiums and premiums on policies not taken.
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More Definitions of Net direct premium

Net direct premium means the gross direct premium written and reported by an insurer on annual financial statements on:
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Net direct premium means gross direct premiums written in Puerto Rico for insurance policies covering any loss, expense or liability for the loss or damage caused to persons or property, resulting from the possession, conservation or use of any land vehicle, aircraft or draft or riding animal, or incidental to such, all of which is in conformance with Section 4.070(1) of the Code, less premium returned to policyholders in such direct business. The term "Net direct premium" does not include premiums related to contracts between insurers and reinsurers.
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Related to Net direct premium

  • Annual Premium means an amount specified in the Schedule, which is payable under the annual Premium payment mode under this Policy, excluding Extra Premium, if any and excluding service tax or any other taxes, cesses or levies, if any;

  • Net Premium means the premium, net of reinsurance premiums paid, HRA and GME payments, and MCO tax expenses.

  • Net direct written premiums means direct gross premiums written in this state on insurance policies subject to this chapter, less return premiums and dividends paid or credited to policyholders on such direct business. “Net direct written premiums” does not include premiums on a contract between insurers or reinsurers.

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • Net Monthly Excess Cashflow With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.