Accounting Basis. All premiums and losses under this Contract shall be reported on an “accident year” accounting basis. Unless specified otherwise herein, all premiums shall be credited to the period during which they earn, and all losses shall be charged to the period during which they occur.
Appears in 9 contracts
Samples: Interests and Liabilities Agreement, Interests and Liabilities Agreement, Interests and Liabilities Agreement
Accounting Basis. All premiums and losses under this Contract shall be reported on an “accident year” accounting basis. Unless specified otherwise herein, all premiums shall be credited to the period Contract Year during which they earn, and all losses shall be charged to the period Contract Year during which they occur.
Appears in 1 contract
Samples: Universal Insurance Holdings, Inc.
