Gross premium definition

Gross premium means the amount of premium charged by the insurer. It includes the net premium, based on claim cost, for the risk together with any loading for expenses, profit or con- tingencies.

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Gross premium means gross premiums including any fee paid by the Client, less return premiums and cancellation premiums excluding IPT.

Gross premium means premium after deduction of discounts, refunds and rebates of premium but before deduction of any premium paid or payable by any insurer for reinsurance ceded and includes premiums receivable by the insurer under reinsurance contracts accepted by that insurer and any premium in respect of annuity contracts;

Examples of Gross premium in a sentence

• Gross premium collected by IMS, for WYO Flood program business written under this Agreement, shall be remitted to the FIA by IMS net of the established NFIP Expense Allowance.

• Gross premium collected by Vendor, for WYO Flood Program business written under this Agreement, shall be remitted to the FIA by Vendor net of the established NFIP Allowable Expenses.

• Gross premium: written premium, which refers to the total premium paid to the insurance company by the applicant or the insured according to the amount stated in the insurance payment notice.

• Gross premium collected by Vendor, for WYO Flood program business written under this Agreement, shall be remitted to FEMA by Vendor net of the established NFIP Expense Allowance.

• Typically we will charge the following: • £20.00 for personal line policies • £20.00 for commercial policies less than £500.00 Gross Premium • £50.00 for commercial polices over £500.00 Gross Premium • £100.00 for polices up to £10,000 Gross premium • £250.00 for polices up to £50,000 Gross Premium • 1% of Gross premium for all polices over £100,000 • Tax Investigation Insurance £10.00 up to £500 premium above £500 premium £20.00 admin fee • £20.00 for any mid-term adjustments for all policies.

More Definitions of Gross premium

Gross premium means the premium after deduction of discounts, refunds and rebates of premium but before deduction therefrom of any premium paid or payable by an insurer for reinsurance ceded, and includes premiums receivable by the insurer under reinsurance contracts accepted by the insurer;

Gross premium means maximum gross premiums as provided in the policy contracts, new and renewal, including policy or membership fees, whether paid in part or in whole by cash, automatic premium loans, dividends applied in any manner whatsoever, and without deduction or exclusion of dividends in any manner, but excluding premiums returned on cancelled policies, on account of reduction in rates, or reductions in the amount insured;

Gross premium means the total premiums written, received and receivable excluding unearned premium and premiums returned to the insured; and

Gross premium means the gross selling price of any Policy payable by the Policyholder to RUL, including commission and/or fees payable by RUL to the Intermediary, and including IPT;

Gross premium means the premium including any Commission, excluding IPT.

Gross premium means the total policy premium receivable;

Gross premium means the premium after deduction of discounts, refunds and rebates, but before the deduction therefrom of any premium paid or payable by an insurer for reinsurance ceded ;