Net Premiums Written definition

Net Premiums Written means gross premiums written less returns, allowances and reinsurances which inure to the benefit of the Reinsurer.

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Net Premiums Written means amounts calculated in relation to a body corporate by the application of the principles set out in—

Net Premiums Written means gross premiums written net of reinsurance premiums payable under reinsurance ceded, and

Examples of Net Premiums Written in a sentence

• The term “ Earned Premium” as used herein is equal to the sum of the Net Premiums Written on the business covered hereunder during the period under consideration, plus the unearned premium reserve as respects premiums in force at the beginning of such period, less the unearned premium reserve as respects premiums in force at the end of the period, said unearned premium is to be calculated on a monthly pro rata basis.

• The term “Subject Earned Premium” as used herein is equal to the sum of the Net Premiums Written on the business covered hereunder during the period under consideration, plus the unearned premium reserve as respects premiums in force at the beginning of such period, less the unearned premium reserve as respects premiums in force at the end of the period, said unearned premium is to be calculated on an actual daily basis or in accordance with the Company’s methodology, as agreed.

• As outlined in the Reports and Remittances Article, the Company shall pay to the Reinsurer 100% of the Company’s Net Premiums Written on its Net Liability on the business covered hereunder, less the ceding commission.

• The term “Subject Earned Premium” as used herein is equal to the sum of the Net Premiums Written on the business covered hereunder during the period under consideration, plus the unearned premium reserve as respects premiums in force at the beginning of such period, less the unearned premium reserve as respects premiums in force at the end of the period, said unearned premium is to be calculated on a monthly pro rata basis.

• The Reinsurer agrees to allow the Company a commission allowance per calendar quarter of (a) $50,000 plus (b) 25% of Net Premiums Written ceded under this Agreement.

More Definitions of Net Premiums Written

Net Premiums Written as used in this Agreement shall mean the gross written premiums on Policies written, renewed or assumed during the term of this Agreement on business the subject of this Agreement, less cancellation and return premiums and less premiums ceded on all other reinsurance which inures to the benefit of this Agreement on business the subject of this Agreement.

Net Premiums Written means the net amount of premiums written by an insurer after deduction of return premiums and payments in respect of reinsurance business ceded;

Net Premiums Written means gross payments received from insurance policies issued during a specified period, net of the risk premiums payable pursuant to the Government Guarantee Agreement in respect of those policies.

Net Premiums Written means the premium income receivable in the insurer’s last preceding financial year net of reinsurance and reduced by any rebates or refunds, but where an insurer has not completed its first financial year, the net premiums written shall be taken to be the amount stated in its application for authorisation as the maximum aggregate net premiums which will be written in the first year.

Net Premiums Written means the amount of gross direct premiums on policies written less returned premiums and premiums on policies not taken. Paid dividends shall not be deducted for the purposes of calculating net premiums written. (7-1-97)

Net Premiums Written means gross premiums written less return premiums on cancellations or endorsements or both, net of policy fees.

Net Premiums Written means the total premiums for insurance written (less any return premiums) during a given period, reduced by premiums Ceded in respect of liability reinsured by other insurers or the FCIC.