Gross Net Earned Premium Income definition

Gross Net Earned Premium Income means the gross earned premium on business the subject matter hereof less cancellations and return premiums and less premiums paid for reinsurance recoveries under which would inure to the benefit of the Reinsurer. Such Premium Income shall be understood to include:

Gross Net Earned Premium Income means 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 that inures to the benefit of this Contract.

Gross Net Earned Premium Income means the gross earned premium on business the subject matter hereof less cancellations and return premiums and less premiums paid for reinsurance recoveries under which would inure to the benefit of the Reinsurer. Such Premium Income shall be understood to include: 1. That content of pre-paid premiums under policies in respect of Deceased, Disabled and Retired Insureds, the coverage for which becomes effective during the Agreement period. 2. The premium transferred internally by the Company from a prior Agreement, in respect of Deceased, Disabled and Retired Insureds and in respect of other withdrawing Insureds who have purchased extended coverage under Reporting Endorsements.

Examples of Gross Net Earned Premium Income in a sentence

• The premium applicable to the run-off period shall be at the rate set forth in this Contract multiplied by the Gross Net Earned Premium Income earned during each calendar quarter of the run-off period for Policies in force as of the expiration date of this Contract.

• As soon as practicable following the expiration of this Contract, the Company shall forward to the Reinsurer a statement of its Gross Net Earned Premium Income for the term of the Contract.

• The earned premium due to the Reinsurer shall be calculated for each Layer by multiplying the rates specified in the Premium Schedule above by the Company's Gross Net Earned Premium Income.

• Premium for such run off cover shall be calculated at the rate in force hereunder at the date of non-renewal applied to the Gross Net Earned Premium Income earned during the period of run off.

• As soon as practicable following the expiration of this Agreement, the Company will calculate a premium at a rate of 0.447% of the Gross Net Earned Premium Income for the Agreement Year.

More Definitions of Gross Net Earned Premium Income

Gross Net Earned Premium Income wherever used herein, means the gross premium earned by the Company during the period of this Agreement on business subject to this Agreement, before the application of any credits allowed to insureds in respect of deductibles and self-insured retentions, less only earned premium paid for reinsurances, recoveries under which inure to the benefit of this Agreement. However, in respect of business, written under the Reinsured’s Retrospective Rating Plan, “Gross Net Earned Premium Income” shall be calculated from the standard premium audit but prior to any retrospective rating adjustments.

Gross Net Earned Premium Income as used in this Contract shall mean the gross earned premium income of the Company for the business covered by this Contract, less premiums paid for reinsurances, recoveries under which would inure to the benefit of this Contract.

Gross Net Earned Premium Income as used herein shall mean gross premiums earned during the period less cancellations and return premiums and less premiums paid for reinsurance, recoveries under which shall inure to the benefit of Reinsurers hereon.

Gross Net Earned Premium Income means the earned portion of Gross Net Written Premium Income.

Gross Net Earned Premium Income as used in this Agreement shall mean gross earned premium income on business the subject of this Agreement less earned premium income paid for reinsurances, recoveries under which would inure to the benefit of this Agreement.

Gross Net Earned Premium Income means the gross earned premium on business the subject matter hereof, less cancellations and return premiums and less premiums paid for reinsurance, recoveries under which would inure to the benefit of this Contract. Such premium income shall be understood to include: 1. That content of pre-paid premiums under Policies in respect of Deceased, Disabled and Retired Insureds, the coverage for which becomes effective during the term of this Contract; 2. The premium transferred internally by the Company from a prior contract, in respect of Deceased, Disabled and Retired Insureds and in respect of other withdrawing insureds who have purchased extended coverage under reporting endorsements.

Gross Net Earned Premium Income means gross earned manual premium for Policies covered hereunder adjusted for experience and schedule credit/debit modifications, State/NCCI safety credit and other allowable credits, premium discount, deductible credits, expense constants and Policy fees, less returns and cancellations and less the earned portion of premiums for Policies covered hereunder ceded by the Company for reinsurance that inures to the benefit of this Contract, if any.