Net Subject Written Premium definition

Net Subject Written Premium as used in this Contract shall mean the gross written premium of the Company for the Business Covered, less return premium for cancellations and reductions and less the premium paid or payable for reinsurance that inures to the benefit of this Contract.
Net Subject Written Premium will mean the gross written premium of the Company for the classes of business reinsured hereunder as specified in the Coverage Article, including any premium paid by original insureds in respect of any Extended Reporting Periods or discovery periods and any reinstatement premium payable by the original insureds, less returned premium for cancellations and reductions, and less premium for reinsurance as set forth in the Other Reinsurance Article.
Net Subject Written Premium will mean the gross written premium of the Company for the classes of business reinsured hereunder as specified in the Coverage Article, including any premium paid by original insureds in respect of any Extended Reporting Periods or discovery periods and any reinstatement premium payable by the original insureds, less returned premium for cancellations and reductions, and less premium for reinsurance as set forth in the Other Reinsurance Article. -7- <PAGE> H. "Occurrence," unless defined otherwise in the Policies reinsured hereunder, will mean each and every disaster, casualty, or accident or series of disasters, casualties or accidents arising out of one event. I. "Policies" will mean all policies, binders, contracts, or agreements of insurance or reinsurance, whether written or oral. The maximum Policy period for subject business will be 12 months, plus odd time, not to exceed 18 months in all; however, said limitation will not apply to single project construction risks. J. "Renewed" will include those Policies issued for more than one year (if any) as of their next annual anniversary or annual installment date. K. "Retroactive Date" will mean the date prescribed in a Claims Made Policy, which is the earliest date losses can actually occur for which an insured can claim coverage. REINSURANCE PREMIUM AND CEDING COMMISSION The Company will cede to the Reinsurers their proportionate share of the Net Subject Written Premium on all Policies written or Renewed with an effective date on or after the effective date of this Agreement, less a flat ceding commission of 22.5% on the Net Subject Written Premium ceded. The commission will include premium taxes of all kinds local board assessments, and all other expenses and charges whatsoever based on the premium for business ceded under this Agreement. OTHER REINSURANCE The Company is permitted to have other treaty reinsurance. The premium for any such reinsurance that inures to the benefit of this Agreement will not be included within the subject premium hereunder. Additionally, the Company may purchase facultative reinsurance on any subject risk it deems advisable, and the premium for that portion of the Company's Policy reinsured elsewhere will not be included within the subject premium hereunder. EXTRA CONTRACTUAL OBLIGATIONS AND EXCESS LIMITS LIABILITY This Agreement will extend to cover any claims-related extra contractual obligations and/or excess limits liability arising because of, but not limited to, the f...

Examples of Net Subject Written Premium in a sentence

  • Packets may be picked up Monday through Friday, 8:00am to 5:00pm.

  • The contribution of this interaction to the overall binding is reinforced by the contact between the northern part of the pyridine linker and the hydrophobic part of the side chain of lysine β254 as well as the indole moiety being sandwiched between hydrophobic parts of the side chains of lysine β352 and that of asparagine β258.

  • The Company will cede to the Reinsurers their proportionate share of the Net Subject Written Premium on all Policies written or Renewed with an effective date on or after the effective date of this Agreement, less a flat ceding commission of 22.5% on the Net Subject Written Premium ceded.

  • Ceded Net Subject Written Premium Income accounted for during the quarter; 3.

  • Deposit Premium shall be adjustable at a Gross Rate of 4.93% as applied to the Reassured's Net Subject Written Premium.

  • The Reassured's Net Subject Written Premium for the contract period shall not be greater than $30,000,000.

  • Defendant cites Article VIII, which requires plaintiffs to:furnish the Reinsurer with a report summarizing the Net Subject Written Premium ceded and the Net Subject Earned Premium ceded, less return premium and commission, losses paid, Loss Adjustment Expense paid, monies recovered, and net balance due either party.


More Definitions of Net Subject Written Premium

Net Subject Written Premium as used herein shall mean the gross written premium of the Reassured for the Business Covered and reinsured hereunder, plus additional premiums related thereto, less return premium paid for cancellations and reductions, and less written premiums paid for reinsurance, if any, recoveries under which inure to the benefit of this Contract.

Related to Net Subject Written Premium

  • Net Written Premium means direct premium written on the Policies covered by this Agreement plus additions, less refunds and return premium for cancellations and reductions (but not dividends) and less premium paid or payable for reinsurance that inures to the benefit of the Participating Companies.

  • Net direct written premiums means direct gross premiums written in this state on insurance policies to which this Act applies, less return premiums thereon and dividends paid or credit to policyholders on such direct business. “Net direct written premiums” does not include premiums on contracts between insurers or reinsurers.

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • formal written price quotation means quotations referred to in paragraph 12 (1) (c) of this Policy;

  • Fully Burdened Manufacturing Cost means, with respect to any Licensed Product supplied by or on behalf of NVCR to Zai hereunder if such Licensed Product (or any precursor or intermediate thereof) is manufactured by a Third Party manufacturer [***].

  • Transfer Premium shall also include, but not be limited to, key money, bonus money or other cash consideration paid by Transferee to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant to Transferee or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to Transferee in connection with such Transfer. The determination of the amount of Landlord’s applicable share of the Transfer Premium shall be made on a monthly basis as rent or other consideration is received by Tenant under the Transfer.

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

  • Additional Transportation Cost means the actual cost incurred for one-way Economy Transportation by Common Carrier reduced by the value of an unused travel ticket.

  • Trip Cost means the dollar amount of Trip payments or deposits paid by the Insured prior the Insured’s Trip Departure Date and shown on any required application which is subject to cancellation penalties or restrictions. Trip cost will also include the cost of any subsequent pre-paid payments or deposits paid by the Insured for the same Trip, after application for coverage under this plan provided the Insured amends the Application to add such subsequent payments or deposits and pays any required additional plan cost prior to the Insured’s Departure Date.

  • Maximum Premium has the meaning set forth in Section 7.06(b).

  • Day-ahead Loss Price means the Loss Price resulting from the Day-ahead Energy Market.

  • Prepayment Premium Period means the period during which, if a prepayment of principal occurs, a prepayment premium will be payable by Borrower to Lender. The Prepayment Premium Period is the period from and including the date of this Note until but not including the first day of the Window Period.

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Risk Premium means a percentage determined on an Adjustment Day for the Adjustment Period beginning on such Adjustment Day, which indicate the price of the risks taken over by the Issuer. The determination will be made by the Issuer in its reasonable discretion (billiges Ermessen § 315 German Civil Code (BGB)). The respective

  • Excess emissions - means an emission rate that exceeds any applicable emission limitation or standard allowed by any rule in Sections .0500, .0900, .1200, or .1400 of Subchapter 02D; or by a permit condition; or that exceeds an emission limit established in a permit issued under 15A NCAC 02Q .0700. (Note: Definitions of excess emissions under 02D .1110 and 02D .1111 shall apply where defined by rule.)

  • Regular Premium means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Premium Paying Term, in amount and at the Premium Payment Frequency, both, as specified in the Schedule.

  • Life-cycle cost means the expected total cost of ownership during the life of a product, including disposal costs.

  • Salvage value means the amount received for property retired, less any expenses incurred in connection with the sale or in preparing the property for sale, or, if retained, the amount at which the material recoverable is chargeable to materials and supplies, or other appropriate account.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Patient cost means the cost of a medically necessary health care service that is incurred as a result

  • Equipment Cost means, for each Unit, the purchase price therefor -------------- paid by the Owner Trustee to the Lessee pursuant to Section 2 of the Participation Agreement and as set forth in Schedule 1 to the Participation Agreement with respect to such Unit. Notwithstanding anything to the contrary contained in the Operative Agreements, the Equipment Cost for any Replacement Unit shall be deemed to be the Equipment Cost or deemed Equipment Cost of the Unit replaced by such Replacement Unit.

  • Lowest Achievable Emission Rate (LAER) means, for any source, the more stringent rate of emissions based on the following:

  • Adjusted Daily Simple SOFR means an interest rate per annum equal to (a) the Daily Simple SOFR, plus (b) 0.10%; provided that if the Adjusted Daily Simple SOFR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.

  • Annual Premium means an amount specified in the Schedule, which is payable under the annual Premium payment mode under this Policy, excluding Extra Premium, if any and excluding service tax or any other taxes, cesses or levies, if any;

  • Day-ahead Congestion Price means the Congestion Price resulting from the Day-ahead Energy Market.

  • Total maximum daily load or "TMDL" means the sum of the individual wasteload allocations for point sources, load allocations (LAs) for nonpoint sources, natural background loading and a margin of safety. TMDLs can be expressed in terms of either mass per time, toxicity, or other appropriate measure. The TMDL process provides for point versus nonpoint source trade-offs.