Direct written premium for insurance companies means the gross premium written less return premiums and premiums on policies not taken but including policy and membership fees.
Direct written premium means the total of all written premiums, net of cancellations, reinstatements and endorsements.
Direct written premium means all premium covering written insurance contracts, prior to any ceding, during the period of measurement as determined in accordance with SAP.
Examples of Direct written premium in a sentence
Direct Premium Earned: Direct written premium plus the change in unearned premium reserves and the change in reserve for rate credits, minus the Regulatory authority licenses and fees, less write-offs, as calculated in the Supplemental Health Care Exhibit as adopted by the NAIC on August 17, 2010.
Direct written premium is a measure of Gross written premium, which excludes assumed premium, and is a commonly used metric in the industry.
Direct written premium rates in personal lines also increased slightly for the first time since 2003.
Direct written premium of $768M mark a decrease of 24%, or $237M, as compared to last year, primarily as a result of the absence of renewal business related to depopulation.
Direct written premium was$23.4 million higher than the budgeted $348.6 million.
More Definitions of Direct written premium
Direct written premium means the premium information for property and casualty insurance that is included by an insurer in column 1 of the Exhibit of Premiums and Losses of the NAIC Annual Statement or in an equivalent reporting requirement. The Federal terrorism policy surcharge is not included in amounts reported as direct written premium. (j) Discretionary recoupment amount means such amount of the aggregate Federal share of compensation in excess of the mandatory recoupment amount that the Secretary has determined will be recouped pursuant to section 103(e)(7)(D) of the Act. (k) Federal Insurance Office means the Federal Insurance Office within the U.S. Department of the Treasury. (l) Federal terrorism policy surcharge means the amount established by Treasury under Subpart J of this Part that is imposed as a policy surcharge on property and casualty insurance policies, expressed as a percentage of the written premium. (m) Insurance marketplace aggregate retention amount means an amount for a calendar year as calculated under section 103(e)(6) of the Act.
Direct written premium means a consideration paid, or to be paid, to the insurer for the issuance and delivery of any binder or policy of insurance or annuity written directly to the consumer.
Direct written premium means the premium information for commercial property and casualty insurance as de- fined in paragraph (u) of this section that is included by an insurer in col- umn 1 of the Exhibit of Premiums and Losses of the NAIC Annual Statement or in an equivalent reporting require- ment. The Federal Terrorism Policy Surcharge is not included in amounts reported as direct written premium.
Direct written premium means consideration paid, or to be paid, to the insurer for the issuance and delivery or renewal of any binder, policy of insurance or certificate of insurance or annuity written.
Direct written premium means premiums written directly during the applicable time period, including policy fees, without taking into account reinsurance, calculated in a manner consistent with “Direct Written Premium” in the Company’s monthly management report for October 2014, and related to the lines of business written by the Company as of October 31, 2014. The parties to the Agreement agree that Exhibit D (i) describes the adjustments to be provided to “Net combined ratio” (or “Net CR”) and “Direct Written Premium” for the years ended December 31, 2015, 2016, and 2017 and future periods to implement the intent of the preceding sentence with respect to GAAP as it is in effect for financial statements for periods ending on December 31, 2017, and (ii) describes the adjustments to be provided to “Net combined ratio” and “Direct Written Premium” for periods after 2017, subject to other adjustments that may be necessary to implement the intent of the preceding sentence as a result of changes made to GAAP for financial statements for periods ending after December 31, 2017.
Direct written premium has the meaning set forth in Section 5.3(a).
Direct written premium means the total premiums written by the Citizens Insurance Companies other than premiums for reinsurance assumed by the Citizens Insurance Companies. Notwithstanding the above, the Citizens Insurance Companies agree that the monthly fee payable to Vis'n shall be based on annual Direct Written Premium of no less than $45 million. In the event the fees payable to Vis'n in any year do not meet the requirement of this paragraph, there shall be an adjustment in the payment made to Vis'n in the last month of the term of this Agreement so that the total amount paid meets the requirements of this paragraph. There shall also be an adjustment in the payment made to Vis'n in the last month of the term of this Agreement for any over- or underpayment that resulted from Vis'n being paid $212,500 in the first month rather than 5.1 percent of the Direct Written Premium for the first month.