Net Written Premium definition

Net Written Premium means direct premium written on the Policies covered by this Agreement plus additions, less refunds and return premium for cancellations and reductions (but not dividends) and less premium paid or payable for reinsurance that inures to the benefit of this Agreement.

Net Written Premium means the Company's written premium on the business covered hereunder net of applicable returns and cancellations and net of premiums on inuring reinsurance.

Net Written Premium is defined as the total of all premium amounts on policies written by the Managing General Agent between the Company and the Managing General Agent less return premium and cancellations.

Examples of Net Written Premium in a sentence

• The experimental design involves four replicates (n=4) with 25 seeds.

• The Date of Grant of an Option granted under Section 2.4 shall be the date of the next annual meeting of stockholders after the election by the Eligible Director pursuant to the Compensation Plan to receive the Option in lieu of cash fees, except that, for an Eligible Director elected between annual stockholder meetings, the Date of Grant shall be the date of his or her election as a Director.

• A4.12.4 The non-proportional reinsurance element is calculated as 52% of the Insurer’s Net Written Premium.

• A4.10.6 For the purposes of this section, and subject to Rule A4.10.8, the Insurer’s base premium means the higher of the two following amounts: (a) the amount of the Insurer’s Net Written Premium during the reference period; and (b) 50% of the amount of the Insurer’s Gross Written Premium during the reference period.

• Other expenses, which are not directly identifiable, are apportioned on the basis of the Net Written Premium - Direct in each business segment during the year.

More Definitions of Net Written Premium

Net Written Premium as used herein is defined as gross written premium of the Company for the Casualty classes of business reinsured hereunder, less cancellations and return premiums, and less premiums ceded by the Company for excess facultative reinsurance or other reinsurance which inures to the benefit of this Contract.

Net Written Premium means gross premium of the Company's Business Covered less cancellations and returns and less premium paid for specific excess of loss reinsurance above $1,000,000 (one million dollars), and facultative reinsurances, if any.

Net Written Premium is defined as written premium on Contracts assumed by and written directly by EMC Re, less any such written premium that is ceded by EMC Re, which is booked by EMC Re during the applicable calendar year.

Net Written Premium means Direct Written Premium of the U.S. Insurance Subsidiaries for any Test Period net of Ceded Written Premium of the U.S. Insurance Subsidiaries for such Test Period. For the avoidance of doubt, Exhibit D shows a calculation of the Net Written Premium of the U.S. Insurance Subsidiaries for the last twelve months most recently ended prior to the Closing Date. The calculation of Net Written Premium hereunder on and after the Closing Date shall be substantially consistent with Exhibit D and in accordance with SAP.

Net Written Premium means gross premium written, less reinsurance premium ceded;

Net Written Premium means the total of the Company's gross premium written during the agreement year for the lines of business covered hereunder, less expense constants on admitted policies, and less return premiums and premiums paid for reinsurance, if any, inuring to the benefit of the Agreement.

Net Written Premium shall have the same meaning it has in the Traditional Program Business Pooling Agreement.