Premium earned definition

Premium earned means premium received, adjusted for the changes in premium due and unpaid, and paid in advance, and unearned premium, net of refunds or dividends paid or credited to policyholders, but not reduced by dividends to stockholders or by active life reserves.
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Premium earned means premium received, adjusted for the changes in premium due and unpaid, and paid in advance, and unearned premium, net of refunds or dividends paid
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Examples of Premium earned in a sentence

  • Furthermore, in no event shall the Reinsurers' aggregate limit of liability exceed 10% (ten percent) of Reinsurance Premium earned for the Term in respect of the combined amounts of property and casualty Ultimate Net Loss plus associated Loss Adjustment Expenses emanating from Terrorist Acts whether one or multiple Terrorist Acts.

  • Premium earned for the period shall mean all written premium ceded to this Agreement during the period, less cancellations and returns, plus the unearned premium reserve at the beginning of the period and less the unearned premium reserve at the end of the period.

  • In addition, in no event shall the Reinsurers' aggregate limit of liability exceed 10% (ten percent) of Reinsurance Premium earned for the Term in respect of any one Loss Occurrence in respect of ceded property catastrophe Ultimate Net Loss plus associated Loss Adjustment Expenses.

  • With regards to the Non NY Catastrophe Reinsurance Contracts, the Retrocedant shall retrocede to the Retrocessionaire an amount equal to ninety percent (90%) of the Net Premium earned under the Non NY Catastrophe Reinsurance Contracts on or after the effective date of this Addendum.

  • AGGREGATE LIMIT The Reinsurers' maximum overall aggregate Ultimate Net Loss and Loss Adjustment Expense liability under this Agreement shall be 95.0% (ninety five point zero percent) of ultimate Reinsurance Premium earned by the Reinsurers.

  • Retrocedant shall retrocede to the Retrocessionnaire (1) eighty percent (80%) of Net Premium earned prior to the Adjustment Date and (2) the Adjusted Cession Percentage of Net Premium earned after the Adjustment Date under the Reinsurance Contracts.

  • Allowance for the Seller's expenses during the Run-Off Period equal to 15% of Premium earned during the Run-Off Period.

  • In addition, in no event shall the Reinsurer's aggregate limit of liability exceed 10% (ten percent) of Reinsurance Premium earned for the Term in respect of any one Loss Occurrence in respect of ceded property catastrophe Ultimate Net Loss plus associated Loss Adjustment Expenses.

  • In addition, in no event shall the Reinsurer's aggregate limit of liability exceed 10% (ten percent) of Reinsurance Premium earned for any one Loss Occurrence in respect of ceded property catastrophe Ultimate Net Loss plus associated Loss Adjustment Expense.

  • In such event, the Company and AUI will work together in good faith with a view towards determining the extent to which the Premium earned by the Company can be increased by adding contracts which are within the Underwriting Guidelines and Business Framework, and are profitable on a modeled expected basis, or the taking of other actions, such as returning capital to Shareholders, without risking the Company’s then-current Rating Agency ratings.