Net Premium Earned definition

Net Premium Earned means, for any period of time, the earned portion of premiums written by a Participating Company after payment for reinsurance, if any.
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Net Premium Earned shall have the same meaning it has in the Traditional Program Business Pooling Agreement.
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Net Premium Earned means the Company's Net Premium Earned for the period ending December 31, 2003 as set forth on Statement Line No. 5 of the Company's Statutory Statement of Income for the period ended December 31, 2003; provided that in determining Net Premium Earned during any interim period during the term of the Agreement, the Company's cumulative Net Premium Earned for the year to date commencing on January 1, 2003 shall be used, but shall be subject to adjustment based on any Net Premiums Earned in later interim periods during the term of the Agreement.
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Examples of Net Premium Earned in a sentence

  • If the adjusted commission on Net Premium Earned as of the date of adjustment is less than commissions previously allowed by the Reinsurer, the Company shall remit the difference to the Reinsurer with its report.

  • If at a later date, the guaranteed portion is sold, the Bank will pay the net difference between the incentive pay calculated on the amount of Net Premium Earned, as determined by the above chart, and the amount previously paid under the 1.00% commission option.

  • The incentive pay will be the following percentage of the Net Premium Earned, defined as the gross premium earned in the sale of the guaranteed portion less any broker fees paid.

  • The Reinsurer shall pay to the Company a profit commission of 25.00% of the amount, if any, by which 58.00% of Net Premium Earned exceeds Losses Incurred for the term of this Contract.

  • The Reinsurer shall pay to the Company a profit commission of 25.00% of the amount, if any, by which 59.33% of Net Premium Earned exceeds Losses Incurred as respects the Contract Year under consideration.

Related to Net Premium Earned

  • Net Premium means the premium, net of reinsurance premiums paid, HRA and GME payments, and MCO tax expenses.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.

  • Net earned premium as used herein is defined as the Company's gross earned premium collected on the classes of business subject to this Contract, less only the earned portion of premiums, if any, ceded by the Company for reinsurance which inures to the benefit of this Contract and less dividends incurred.

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.