Gross Net Written Premium means gross written premiums less return premiums for cancellations and reductions in rates and less premium paid for reinsurance inuring to the Subscribing Reinsurer’s benefit, if any.
Gross Net Written Premium will mean the gross written premium of the Company for the business covered hereunder, plus additions, less return premium for cancellations and less premium for reinsurance that inures to the benefit of this Agreement.
Gross Net Written Premium means the gross written premium income on subject business, without any reduction due to bad debts, less returns and cancellations and less written premium income paid for reinsurances, recoveries under which would inure to the benefit of this Contract, subject to the provisions of paragraph B of the Special Provisions Article. Gross Net Written Premium income shall not include premium finance income, billing fees and Policy fees collected by the Company in connection with business covered hereunder, regardless of whether these fees are taxed as premium by the jurisdiction in question.
More Definitions of Gross Net Written Premium
Gross Net Written Premium less a reinsurance protection cap charge of Ten and One-Half Percent (10.5%) of “Gross Net Written Premium”,
Gross Net Written Premium is defined as written premium booked during the applicable calendar year and before reduction for the reinsurance cap protection charge.
Gross Net Written Premium means Gross Subject Written Premium minus deductions allowed pursuant to Article VI.
Gross Net Written Premium means the COMPANY’s gross written premium plus additional premiums, if any, less return premiums, if any, and less premiums paid for other reinsurance, if any, which inures to the benefit of this AGREEMENT. It is understood that 95% of the COMPANY’s indivisible premiums under Farmowners Multiple Peril, 90% under Homeowners Multiple Peril, 80% under Boatowners policies written as part of inland Marine, and 75% under Commercial Multiple Peril policies shall be allocated to the perils covered under this AGREEMENT.
Gross Net Written Premium means the Company’s gross written premium plus additional premiums, if any, less return premiums, if any, and less premiums paid for other reinsurance, if any, which inures to the benefit of this Agreement. It is understood that 95% of the Company’s indivisible premiums under Farmowners Multiple Peril, 90% under Homeowners Multiple Peril, 80% under Boatowners policies written as part of Inland Marine, and 75% under Commercial Multiple Peril policies shall be allocated to the perils covered under this Agreement. Nothing herein contained shall alter, vary or extend any provision or condition of the Agreement other than as above stated.
Gross Net Written Premium means the Gross Net Written Premium assumed by the Retrocedant under the Original Agreement, being Gross Written Premium less return premiums and dividends paid on policies that are written subject to a loss sensitive dividend plan. (For original business that is written subject to an installment billing plan, the premium shall be considered written thirty (30) days after the day which they became due to the original Company.) Additionally, the Retrocedant's proportionate share of reinsurance premium due for the Reinsurance protection excess of $500,000 each loss (as detailed under Article 10 - OTHER REINSURANCE) shall be deducted from the Retrocedant's retained Gross Net Written Premium.
Gross Net Written Premium means manual premium adjusted for experience modification, State/NCCI Safety Credit, premium discount, deductible credits, expense constants and policy fees, less returns and cancellations.