Pure premium definition

Pure premium means the loss cost per unit of exposure excluding all loss adjustment expenses;
Sample 1Sample 2Sample 3
Pure premium means the loss cost per unit of exposure excluding all loss adjustment expenses[is the loss cost per unit of exposure plus the loss adjustment expense directly allocated to the settlement of specific losses].
Sample 1Sample 2Sample 3
Pure premium means the amount of losses per exposure, including allocated loss adjustment defense and cost containment expenses.
Sample 1

Examples of Pure premium in a sentence

  • Pure premium rate deviations represent how insurers expect their losses and LAE to deviate from the average of all insurers.

  • Pure premium trends, Exhibit IV, have risen to nearly 8% per year.

  • From this visualization, we note that the ordered Lorenz curves for both Pure premium models 2 and 3, which account for spatial effects, have a slightly convex shape when the base model is used as a benchmark, indicating that both models are able to spot tariff discrepancies in the benchmark model.

  • Foliar application of chitosan at 250 mg L-1 effectively reduced H2O2 production, lipid peroxidation andmembrane permeability and elevated the antioxidant enzyme activities in the leaves of cowpea under drought stressful conditions indicating that chitosan coped with oxidative damage caused by drought stress in cowpea plants (Farouk et al., 2013).

  • Pure premium is the amount of premium necessary to pay for workers’ compensation claims, excluding all loss adjustment or claim management expenses, other operating expenses, assessments, taxes, and profit allowance for the insurance carriers.Growth of Total WC Benefits in HawaiiFigure 5.

  • Pure premium is the expected payouts that will be made to policyholders.

  • The reported health insurance premiums for the Scheme consist of: • Pure premium for that covers the medical elements.• Administrative costs• Marketing costs• Contingency margin This premium has been calculated for all scenarios we were instructed to consider.

  • Pure premium = (amount of loss impact due to the risk of crop failure)/ (Number of exposure units used) Pure premium = (Rp 29,918.034.-.)/ 280 ha = Rp 106,850.12.- per hectareThe net premium value is the portion of the premium used to pay compensation to farmers as insurance participants.

  • Pure premium or net premium corresponds to the average cost of claim multiplied by the probability of that the event being covered will occur during the risk covered policy period.

  • A method of setting pure premium rate for property insurance, Zhang and Zheng [15], is adopted for earthquake property insurance: Pure premium rate = excepted loss ratio ×（ 1.0 + stability factor） (3) where excepted loss ratio is a mean value, i.e. fifty-fifty venture if the excepted loss ratio is used as premium rate.


More Definitions of Pure premium

Pure premium means the average cost of covering a specified risk in the past, to the exclusion of any adminis- trative or commercial costs or fiscal or parafiscal contributions, and not taking into account revenues from investments nor anticipated profits.
Sample 1Sample 2
Pure premium means that part of the premium which is sufficient to pay losses and loss adjustment expenses only.
Sample 1
Pure premium means: the cost base for the insurance cover that the policyholder is required to pay as consideration for the technical risk accepted by undertakings;
Sample 1
Pure premium means that part of the premium which is sufficient to
Sample 1

Related to Pure premium

  • Single Premium means the Premium amount specified in the Schedule payable in Lump Sum at the inception of the Policy. No further Premiums are payable under this Policy.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of this Note, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments; and

  • Spread Maintenance Premium means, with respect to any payment or prepayment, an amount equal to the product of the following: (i) the LIBOR Margin, the Alternate Rate Spread or the Base Rate Spread then applicable to each such future installment of interest, multiplied by (ii) the principal amount of the Loan so prepaid, and multiplied by (iii) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid through and including December 14, 2019, and the denominator of which is 360.

  • Make-Whole Premium means, with respect to a Note at any redemption date, the greater of:

  • Insurance Premium means the amount that each Debtor shall pay on a monthly basis to Agos pursuant to the relevant Consumer Loan Agreement, in relation to the insurance premium paid by Agos to the relevant Insurance Company under any Financed Insurance Policy.

  • Redemption Premium means (i) in the case of the Events of Default described in Section 4(a)(i) - (vi) and (ix) - (xii), 125% or (ii) in the case of the Events of Default described in Section 4(a)(vii) - (viii), 100%.

  • Prepayment Premium means, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents, including any exit fee.

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

  • 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.

  • Applicable Premium means, with respect to any Note on any Redemption Date, the greater of:

  • Buyer’s Premium means a Commission payable by The Buyer to the Auctioneer. The Auctioneer, when acting as Agent for The Seller, may also receive

  • State premium tax liability means any liability

  • 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.

  • Base premium rate means, for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage.

  • Deposit Premium means a provisional premium which is agreed upon in the event of it being impossible at the due date of the premium to determine the exact premium, and which represents a reasonable estimate of the premium;

  • Interest Subsidy Payments means payments, designated as such, consisting of interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Optional Redemption Premium means, with respect to any Series, the premium (expressed as a percentage of the Liquidation Preference of the shares of such Series) payable by the Fund upon the redemption of MuniFund Term Preferred Shares of such Series at the option of the Fund, as set forth in the Appendix for such Series.

  • 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

  • Standard Premium means the basic premium for the coverage under this Certified Plan, as charged by the Company to the Policy Holder on an overall Portfolio basis, which may be adjusted in accordance with the Age, gender and/or lifestyle factors of the Insured Person.

  • Prepayment Premiums Any prepayment fees and penalties to be paid by the Mortgagor on a Mortgage Loan.

  • Applicable Prepayment Premium has the meaning specified therefor in the Fee Letter.

  • Annualised Premium means the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any as specified in the Schedule.

  • LATE CHARGES All invoices are due and payable upon receipt. Any invoices not paid within thirty (30) days of the invoice date are subject to a one percent (1%) per month financing charge on any unpaid balance but only to the extent permitted by law.

  • 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;

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

  • Overdue Payment shall have the meaning specified in Section 4.03(a).