Relevant Premium Income definition

Relevant Premium Income has the meaning ascribed to such term in Schedule 2; “Risk Management Audit” has the meaning ascribed to such term in the Regulations;
Relevant Premium Income. “ means, in respect of a Participating Insurer, the aggregate Declaration Premium Payable to it in respect of Policies (excluding ARP Coverage and Run-off Cover) incepting in the Indemnity Period commencing on 1 December 2015, to the extent that such premium relates to the placing of cover required in accordance with the Minimum Terms and Conditions;
Relevant Premium Income means the Premium Payable to a Qualifying Insurer in respect of Policies (excluding ARP Policies) incepting in the period 1 September to 31 December in the relevant Indemnity Period, to the extent that such premium relates to cover required in accordance with the Minimum Terms for that Indemnity Period, as calculated in accordance with generally recognised professional indemnity underwriting methodologies; and

Examples of Relevant Premium Income in a sentence

  • Relevant Premium Income is the greater of Net Premium Income (i.e. Gross Premium Income after deduction of reinsurance premium payment) and 50% of Gross Premium Income.


More Definitions of Relevant Premium Income

Relevant Premium Income means the Premium Payable to a Qualifying Insurer in respect of Policies (excluding ARP Policies) incepting in the period 1 October 2006 to 31 January 2007, to the extent that such premium relates to cover required in accordance with the Minimum Terms for that Indemnity Period, as calculated in accordance with generally recognised professional indemnity underwriting methodologies; and Premium Payable means the premium due from each Firm to a Qualifying Insurer (excluding any amount in respect of Insurance Premium Tax), whether or not actually received by that Insurer, less (only) any amount due to any intermediary acting as agent of that Firm for the purpose of obtaining professional indemnity insurance. Provided that the ARP Manager may, at its absolute discretion, round the percentage resulting from the above formula, up or down to not less than three decimal points.
Relevant Premium Income means the Premium Payable to a Qualifying Insurer in respect of Policies (excluding ARP Policies) incepted in the period 1 September 2003 to 31 December 2003, to the extent that such premium relates to cover required in accordance with the Minimum Terms for that Indemnity Period, as calculated in accordance with generally recognised accounting methodologies; and “Premium Payable” means the premium due from each Firm to a Qualifying Insurer (excluding any amount in respect of Insurance Premium Tax), whether or not actually received by that Insurer, less (only) any amount due to any intermediary acting as agent of that Firm for the purpose of obtaining professional indemnity insurance. I hereby declare that the information set out above constitutes a best estimate of the Relevant Premium Income of the above named Insurer for the period in question.‌ Signed: …………………………….. Print name: …………………………….. For and on behalf of the Qualifying Insurer named above Date: ……………………………..‌ Part 2 INDEMNITY YEAR 2003/2004‌ To be completed by the Qualifying Insurer and returned to the ARP Manager by no later than 31 January in each Indemnity Period. Name of Qualifying Insurer …………………………………………………………… Relevant Premium Income £……………………………………………………………

Related to Relevant Premium Income

  • Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.

  • Prepayment Premium Period means the period during which, if a prepayment of principal occurs, a prepayment premium will be payable by Borrower to Lender. The Prepayment Premium Period is the period from and including the date of this Note until but not including the first day of the Window Period.

  • Premium surcharge means a payment required from a subscriber, in addition to the subscriber's medical premium contribution, due to an enrollee's tobacco use or an enrolled subscriber's spouse or state registered domestic partner choosing not to enroll in their employer- based group medical when:

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

  • Payoff Earnings For any Distribution Date with respect to each Mortgage Loan on which a Payoff was received by the Master Servicer during the Payoff Period, the aggregate of the interest earned by the Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act.

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • Relevant Percentage means, in respect of any Subsidiary Issuer, the percentage as specified in the relevant Pricing Supplement;

  • Base Earnings means base salary and wages payable by the Company or a Participating Subsidiary to an Eligible Employee, prior to pre-tax deductions for contributions to qualified or non-qualified (under the Code) benefit plans or arrangements, and excluding bonuses, incentives and overtime pay but including commissions.

  • Prepayment Premium means, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents, including any exit fee.

  • Deposit Premium means a provisional premium which is agreed upon in the event of it being impossible at the due date of the premium to determine the exact premium, and which represents a reasonable estimate of the premium;

  • Excess Earnings means, with respect to Mortgage Loans held in any subaccount of the Acquisition Account or the Loan Recycling Account established in connection with a Series of Tax- exempt Bonds, the "excess earnings," as defined in Treasury Regulations § 1.148-10T, with respect thereto.

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

  • 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.

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Core Earnings means, with respect to any Person for any period, net income determined in accordance with GAAP of such Person and its consolidated subsidiaries and excluding (but only to the extent included in determining net income for such period) (i) non-cash equity compensation expense, (ii) the expenses incurred in connection with the formation of the Sponsor and the offering in connection therewith, including the initial underwriting discounts and commissions, (iii) acquisition costs from successful acquisitions (other than acquisitions made in the ordinary course of business), (iv) real property depreciation and amortization, (v) any unrealized gains or losses or other similar non-cash items that are included in net income for the current quarter, regardless of whether such items are included in other comprehensive income or loss, (vi) extraordinary or non-recurring gains or losses and (vii) one-time expenses, charges or gains relating to changes in GAAP; provided that Core Earnings shall, solely with respect to the Core Earnings attributable to any Non Wholly-Owned Consolidated Affiliate, only include the Consolidated Group Pro Rata Share of such attributable amount.

  • Premium Percentage As defined in the Insurance Agreement.

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Per capita income means the average for the most recent three years for

  • Net Finance Charges means, for the Reference Period, the Finance Charges according to the latest Financial Report(s), after deducting any interest payable for that Reference Period to any member of the Group and any interest income relating to cash or cash equivalent investment.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.