Unearned Premium definition

Unearned Premium means the share of the members' premiums applicable to the unexpired portion of the policy terms.

Unearned Premium means reserves for unearned premium net of estimated accrued unearned premium.

Unearned Premium means the premium for the unexpired period of a policy which has been terminated prior to the expiration of the period for which premium has been paid and does not mean premium which is returnable to the insured for any other reason. (Source: P.A. 100-1190, eff. 4-5-19.)

Examples of Unearned Premium in a sentence

• Unearned premium reserves are established to cover the unexpired portion of premiums written.

• Unearned premium will be computed pro rata for the unexpired term of this Policy, unless agreed in advance through the insurance adviser and set out in this Policy.PrivacyKeystone are committed to safeguarding and protecting the Insured’s privacy.

• Unearned premium reserve” means that portion of the pre- mium paid or due to the insurer which is applicable to the period of coverage extending beyond the valuation date.

• Unearned premium will be added and debt subtracted from the applicable amount in calculating the death benefit.

• Unearned premium reserves are required for all contracts with respect to the period of coverage for which premiums, other than premiums paid in advance, have been paid beyond the date of valuation.

More Definitions of Unearned Premium

Unearned Premium means that portion of a premium as calculated by the liquidator that had not been earned because of the cancellation of the insolvent insurer's policy and is that premium remaining for the unexpired term of the insolvent insurer's policy. "Unearned premium" does not include an amount sought as return of a premium under a policy providing retroactive insurance of a known loss or return of a premium under a retrospectively rated policy or a policy subject to a contingent surcharge or a policy in which the final determination of the premium cost is computed after expiration of the policy and is calculated on the basis of actual loss experienced during the policy period.

Unearned Premium means, with respect to any Receivable, the portion, if any, of any insurance premium financed under the related Premium Finance Agreement that is considered unearned and is required under applicable law and/or the terms of the related insurance policy to be returned by the insurance company directly, or indirectly through an insurance broker or agent, to an Originator upon issuance to the related Obligor of a notice of cancellation of the related insurance policy, if such insurance policy is cancelable.

Unearned Premium the Unearned Premium, obtained in the limits of the Insurance Period by a concrete date represents the difference between the consolidated premium corresponding to his/her entire Insurance Period and Earned Premium;

Unearned Premium means that portion of the total Premium paid under a Covered Policy issued by an Insolvent Insurer for which the Policyholder has not received coverage provided for in the Covered Policy;

Unearned Premium means reserves for unearned premium. [***]: CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION.

Unearned Premium means the part of the premium written down in accordance with the insurance or reinsurance contract, which belongs to the next financial year, regardless of it’s cashing.

Unearned Premium means that portion of an insurance premium covering