Net earned premium definition

Net earned premium as used herein is defined as the Company's gross earned premium collected on the classes of business subject to this Contract, less only the earned portion of premiums, if any, ceded by the Company for reinsurance which inures to the benefit of this Contract and less dividends incurred.
View Source
Net earned premium means the premiums earned in this State
View Source
Net earned premium means the premiums earned in this State on health benefits plans, less return premiums thereon and dividends paid or credited to policy or contract holders on the health benefits plan business. Net earned premium shall include the aggregate premiums earned on the carrier's insured group and individual business and health maintenance organization business, including premiums from any Medicare, Medicaid, or NJ FamilyCare contracts with the State or federal government, but shall not include premiums earned from contracts funded pursuant to the "Federal Employee Health Benefits Act of 1959," 5 U.S.C. ss.8901-8914, any excess risk or stop loss insurance coverage issued by a carrier in connection with any self insured health benefits plan, or Medicare supplement policies or contracts.
View Source

Examples of Net earned premium in a sentence

  • Net earned premium" as used herein shall mean gross earned premium of the Company for the classes of business reinsured hereunder, less the earned portion of premiums ceded by the Company for reinsurance which inures to the benefit of this Contract.

  • Net earned premium shall also be reduced by certain reinsurance ceded on earned premium as provided in Article VI, below.

  • Net earned premium" as used herein is defined as gross earned premium of the Company for the classes of business reinsured hereunder, less the earned portion of premiums ceded by the Company for reinsurance which inures to the benefit of this Contract.

  • Net earned premium shall be defined as all direct premium written by the Company, whether voluntary or involuntary and net of premiums returned as the result of cancellations and endorsements, plus all reinsurance assumed by the Company, adjusted for the change in unearned premiums associated with such direct or assumed premiums written for the period covered by this Agreement.


More Definitions of Net earned premium

Net earned premium as used herein shall mean gross earned premium of the Company for the classes of business reinsured hereunder, less the earned portion of premiums ceded by the Company for reinsurance which inures to the benefit of this Contract.
View Source
Net earned premium means gross earned premium of the Company for the business reinsured hereunder, less cancellations and return premiums, and less earned premiums ceded by the Company for other reinsurance as provided in the OTHER REINSURANCE ARTICLE.
View Source
Net earned premium means the Net Written Premium of the Company's Business Covered less the unearned premium reserve at the respective date of calculation.
View Source
Net earned premium as used herein is defined as gross earned premium of the Company for the classes of business reinsured hereunder, less the earned portion of premiums ceded by the Company for reinsurance which inures to the benefit of this Contract. For purposes of calculating net earned premium, 90% of the total basic policy premium as respects Homeowners, Mobilehomeowners and Farmowners business, 70% of the total basic policy premium as respects Businessowners and Commercial Multiple Peril, and 100% of the Comprehensive portion of the premium for Automobile Physical Damage business shall be considered subject premium.
View Source
Net earned premium means Direct Earned Premium of RRC for any Test Period net of Ceded Earned Premium of RRC for such Test Period.
View Source
Net earned premium means net written premium applicable to the expired part of the policy period or reinsurance agreement period;
View Source
Net earned premium as used herein shall mean the Company’s net premiums written (i.e. gross written premium of the Company for the classes of business reinsured hereunder, including premiums assumed by the Company from the participants in the Company Pool pursuant to the Reinsurance Pooling Agreement dated March 1, 2010 less cancellations and return premiums, and less premiums ceded by the Company for reinsurance which inures to the benefit of this Agreement) during the period for which computation is being made, less the net unearned premiums at the end of the period, said unearned premium to be calculated on a monthly pro rata basis.
View Source