Net Premiums definition

Net Premiums means the gross premiums (including policy fees) charged on all original and renewal Policies written on behalf of the Company, less return premiums.

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Net Premiums means the balance of gross premium after deduction from the gross premium of any premium paid or payable by an insurer for reinsurance ceded;

Net Premiums means all direct premiums plus reinsurance assumed minus reinsurance ceded, except as otherwise expressly excluded below.

Examples of Net Premiums in a sentence

• It is further agreed that State Auto Mutual shall receive the Net Premiums for said contracts and policies.

• If the proceeds of the Policy after repayment of the Net Premiums are inadequate to pay the Death Benefit in full, the Company shall have no obligation for the shortfall.

• COMPANY Upon termination of this Agreement, the Company shall be entitled to repayment of the amount of the total premiums paid by the Company to maintain the Policy, less the amount of any distributions therefrom to the Company (including the outstanding balance of any Policy loans to the Company) (the "Net Premiums").

• Upon receipt of the Net Premiums, the Company shall promptly release the Collateral Assignment.

• We will change the allocation percentages applicable to future payments of Net Premiums upon receipt of your request in Good Order at our Customer Service Office.

More Definitions of Net Premiums

Net Premiums means: Premiums received, less any refunds or credits due to the contract holder for cancellations, termination's, changes in coverage, or other issues that would cause CDN, in its sole opinion, to not have earned the premiums received. Premiums do not include administrative or other processing fees charged by CDN.

Net Premiums means Premiums after any adjustments or refunds. 1. 41. "Net Transfer Amount Difference" is defined in Section 4.5.3.

Net Premiums means the gross premiums (including policy fees) written on all Policies written by Company and reinsured pursuant to this Agreement, less return premiums, commissions, any amounts paid to the Agent under any Agency Agreement, premiums for inuring reinsurance purchased by the Company, and any reasonable, documented, out-of-pocket origination costs and expenses related to the Subject Business not paid by the Agent, including brokerage, agent’s commission, licensing and appointment fees for producers, costs of rate or policy filings, including legal, audit and other expenses thereof, exchange fees, advertising and exchange, consulting fees, agency expenses, costs of inspections and other costs and expenses reasonably related to the origination of such Policies. Net Premiums may be remitted directly from the Agent to the Reinsurer (and the Reinsurer shall not be responsible for any failure of the Agent to so transmit premiums). If Net Premiums are received by the Company, they shall be promptly, and within 15 days after the end of the month in which they are received (or with respect to the first such payment, the first month ending after the execution and delivery of this Agreement in respect of the period since November 1, 2020 to such month end), remitted to the Reinsurer in cash by wire transfer.

Net Premiums means gross premiums received less return premiums and premiums paid for reinsurance ceded to other than Reinsurer.

Net Premiums means the gross premiums paid or payable under a contract of insurance, less dividends received or receivable in respect of the contract and less premiums returned on cancellation of the contract.

Net Premiums means premiums each of such an amount that, if all premiums payable under the life policy concerned had been net their value, capitalised on the on which the liability of the long-term insurer under such policy commenced, would have the capitalised the policy excluding any bonus,

Net Premiums means in relation to any valuation, the premiums for which credit is taken in the valuation;