Net earned premium definition

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 and less dividends paid or accrued.

Net earned premium means the premiums earned in this State

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.

Examples of Net earned premium in a sentence

• As premium for the reinsurance provided hereunder, the Company shall pay the Reinsurer 0.862% of its Net Earned Premium for the term of this Contract, subject to a minimum annual premium of $2,500,000 for each of the three Contract Years.

• As premium for the reinsurance provided hereunder for each excess layer, the Company shall pay the Reinsurer the “Premium Rate” for the excess layer, as stated in Exhibit A attached hereto, times its Net Earned Premium for the term of this Contract subject to the “Minimum Premium” as stated in Exhibit A attached hereto.

• As premium for the reinsurance provided hereunder, the Company shall pay the Reinsurer 0.635% of its Net Earned Premium during the term of this Contract, subject to a minimum premium of $2,994,000.

• As premium for the reinsurance provided hereunder, the Company shall pay the Reinsurer 0.4642% times its Net Earned Premium for the term of this Contract subject to a Minimum Premium of $1,056,000.

• Sheboygan Falls shall pay to Donegal Mutual and Donegal Mutual will retrocede to Sheboygan Falls during the term of this Agreement, the Net Earned Premium Income of Sheboygan Falls during such term in respect of business which is the subject matter of 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.

Net earned premium as used herein is defined as the Company’s gross earned premium for the classes of business subject to this Contract, adjusted for experience modification, discounts, credits, surcharges, expense constants and deductible credits, plus or minus the Reinsurer’s pro rata share of any premium arising from audit adjustments, minus cancellation and return premium, minus premiums paid for facultative reinsurance which inures to the benefit of this Contract.

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.

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.

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, Mobile Homeowners 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.

Net earned premium means Direct Earned Premium of RRC for any Test Period net of Ceded Earned Premium of RRC for such Test Period.

Net earned premium means net written premium applicable to the expired part of the policy period or reinsurance agreement period;