Net Premiums Earned definition

Net Premiums Earned means ceded Gross Net Written Premium Income less the unearned portion thereof as of the effective date of calculation.
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Net Premiums Earned means the portion of net premiums written from current and prior periods that is recognized as revenue in a specified period. Premiums written are initially deferred and recorded as unearned premium reserves and then recognized in revenue as premiums earned over the term of the related policies based on the expected pattern of loss emergence.
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Net Premiums Earned means the sum of —
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Examples of Net Premiums Earned in a sentence

  • If the adjusted commission on Net Premiums Earned is less than commissions previously allowed by the Reinsurer on Net Premiums Earned, the Company shall remit the difference to the Reinsurer with its report.

  • If the adjusted commission on Net Premiums Earned is greater than commissions previously allowed by the Reinsurer on Net Premiums Earned, the Reinsurer shall remit the difference to the Company as promptly as possible after receipt and verification of the Company’s report.

  • Within 30 days after 12 months after the expiration date of this Contract, and annually thereafter until all losses subject hereto have been finally settled, the Company shall calculate and report the adjusted commission on Net Premiums Earned.

  • However, the Reinsurer’s liability for Extra Contractual Obligations, Loss in Excess of Policy Limits and losses arising from class action suits, combined, shall not exceed 5.0% of Net Premiums Earned.

  • If, for any calculation, the adjusted commission on Net Premiums Earned is greater than commissions previously allowed by the Reinsurer on Net Premiums Earned, the Reinsurer shall remit the difference to the Company as promptly as possible after receipt and verification of the Company’s report.

  • However, the Maintenance Fee shall be waived should Losses Incurred exceed 80.0% of Net Premiums Earned, calculated as of January 1, 2014.

  • However, the Maintenance Fee shall be waived should Losses Incurred exceed 80.0% of Net Premiums Earned, calculated as of January 1, 2013.

  • If the ratio of Losses Incurred to collected Net Premiums Earned is 69.50% or less, the adjusted commission rate shall be 24.00%.

  • Effective: October 1, 2010 U4VT0004 4 of 36 DOC: December 23, 2010 However, the Reinsurer’s liability for Extra Contractual Obligations, Loss in Excess of Policy Limits and losses arising from class action suits, combined, shall not exceed 5.0% of Net Premiums Earned.

  • If the adjusted commission on Net Premiums Earned for the Contract Year as of the date of adjustment is less than commissions previously allowed by the Reinsurer on Net Premiums Earned for the same Contract Year, the Company shall remit the difference to the Reinsurer with its report.


More Definitions of Net Premiums Earned

Net Premiums Earned means Net Premiums Written less unearned premium.
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Net Premiums Earned means the amount of direct premiums earned by the Company and its Subsidiaries during a Measurement Period, as reflected in the Financial Statements in respect of such Measurement Period, net of the related premiums ceded as part of external reinsurance arrangements then in effect (calculated as if the Reinsurance Treaty had remained in place, except for the effect of an Approved Commutation or an Approved Material Revision).
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Net Premiums Earned means the portion of net premiums written from current and prior periods that is recognized as revenue in a specified period. Premiums written are initially deferred and recorded as unearned premium reserves and are recognized as revenue over the policy term in accordance with the expected pattern of loss emergence as derived from actuarial analysis of historical loss development.
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Net Premiums Earned means ceded Net Written Premium for Policies allocated to this Contract, less the unearned portion thereof as of the effective date of calculation.
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Net Premiums Earned as used in this Agreement shall mean
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Related to Net Premiums Earned

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • 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.

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

  • Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.