Renewal Business definition

Renewal Business which is not New Business.
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Renewal Business is all Group business not included under the definition of “Group New Business” and “Individual Market New Business.”
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Renewal Business means all aspects of the business conducted by Renewal;
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Examples of Renewal Business in a sentence

  • The submission of this Renewal Business Application does not obligate the Insurer to issue, or the Applicant to purchase, a policy.

  • First Year, Previously Reported (i.e., Renewal Business in First Policy Year) 3.

  • Social constructionism takes the view that the world is socially constructed by the individuals who live in it and the meanings that individuals make, are formed through interaction with others and through historical and cultural understanding (Burr, 2003; Creswell, 2007).

  • The Neighbourhood Renewal Business Manager submitted a report (previously circulated and now appended).

  • The reported transaction code must be 1 (New Business), 2 (Renewal Business), 4 (Policy Not Taken or Cancelled), or 5 (Policy Not Ceded).

  • If the ceded policy is renewal business to the company or group, a Transaction Code 2 (Renewal Business) cession record should be reported by the Servicing Carrier.

  • Calculate the appropriate Renewal Business Age/Gender Factor as follows: Use the Renewal Member Based Age/Gender Factor table and the expected enrolled membership segmented by age and gender to calculate the Weighted Average Age/Gender Factor by taking the sum product of the age/gender factor and the expected enrolled membership.

  • Renewal Business License Applications must be postmarked, by the U.S. Postal Service, the last day of February to avoid penalties.

  • The transaction code on all cessions must be 1 (New Business), 2 (Renewal Business), 4 (Cancellation), or 5 (Uncede).

  • Commission Applicable to New and Renewal Business for MGA Services: Company and MGA agree to the following commission schedule for the managing general agent services, including claims services, described in this Agreement and its Schedules with respect to Company’s new and renewal business.


More Definitions of Renewal Business

Renewal Business is all Group business not included under the definition of “Group New Business” and “Individual Market New Business.” RULE: is all business procedures, processes, directives and guidelines including but not limited to requirements for eligibility of applicants; the method and manner by which business shall be transacted between Insurer and Contractor; the day-to-day operations of Contractor as they affect Group and Individual Market Benefit Contracts placed with Insurer; and, such other business terms, provisions, procedures, processes, etc. as may be added, removed, changed, altered or amended from time to time by Insurer.
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Renewal Business shall include any policy (1) which covers as a named insured the same individual, individuals, entity or entities for the same category of risk(s) as any previous policy written in Company and (2) the inception date of which is within 180 days of the termination date of such previous policy. All other polices written under the terms of the Agency Agreement shall constitute "new business". 6 month term Private Passenger Automobile will receive 15% commission for both new business and the first renewal only. For the second and subsequent renewals the commission shall be 10%. A Nationwide-Registered Trademark- Insurance Company KANSAS COMMISSION SCHEDULE DEPOSITORS INSURANCE COMPANY PROPERTY AND CASUALTY ------------------------------------------------------------------------------- Until further notice, the Company agrees to pay the Agent commissions on all premiums remitted upon policies solicited by Agent at the percentages shown in the following schedule: New Renewal --- ------- Personal Lines AutoMax.......................................................... 15% 10% Homeowners....................................................... 15% 10% Pleasure Boatowners.............................................. 15% 10% Dwelling Fire.................................................... 15% 10% Earthquake (Endorsement)......................................... 10% 10% Inland Marine.................................................... 10% 10% Commercial Lines Workers Compensation and Employer's Liability.................... 5% 5%
Sample 1
Renewal Business shall include any policy (1) which covers as a named insured the same individual, individuals, entity or entities for the same category of risk(s) as any previous policy written in Company and (2) the inception date of which is within 180 days of the termination date of such previous policy. All other polices written under the terms of the Agency Agreement shall constitute "new business". 6 month term Private Passenger Automobile will receive 15% commission for both new business and the first renewal only. For the second and subsequent renewals the commission shall be 10%. This Addendum (including any Exhibit or Amendment thereto hereinafter "Addendum I") to that certain Agency Agreement which now exists between ALLIED Mutual Insurance Company and AMCO Insurance Company (hereinafter, collectively called Company) and the Agent designated therein shall be attached to and become a part of said Agency Agreement effective. At any time prior thereto, Agent may notify Company in writing of Agent's rejection of this Addendum I in which case the offer of Profit Sharing herein contained shall be deemed to be withdrawn. Upon any such rejection by Agent, said Agency Agreement shall continue In force until terminated by either Company or Agent pursuant to the terms and conditions thereof, and there shall exist no agreement whatsoever between Company and Agent for Profit Sharing.
Sample 1
Renewal Business means insurance contracts issued by Educators that were in-force and effect as of the Closing Date and are renewed for a further period of coverage following the Closing Date.
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Related to Renewal Business

  • Local Business means a business serving as a contractor as defined in Business and Professions Code section 7026 or a business supplying construction-related materials that has its principal headquarters or permanently staffed regional office and that has held a business license within the zip codes listed above for Local Hire for a minimum of three months prior to the date the entity submits a bid, contract, or proposal for a Public Project. A Local Business contractor must also be properly registered with the Department of Industrial Relations in accordance with Labor Code section 1725.5. Local Business shall also mean any state or nationally certified minority-owned, women-owned, or disabled veteran business that has performed work for the District or other public agency within the zip codes listed above for Local Hire during the past four years. Certification for a disabled veteran business must be provided to the District. Local Business shall also mean a business that participates in an internship program that is currently approved or recognized by the District. The entity may also apply to obtain District approval of its internship program. The internship program must be approved by the District and must be completed by the end of the specific Public Project or by the next semester immediately after completion of the specific Public Project. Local Business shall also mean any entity that uses apprentices from a District approved apprenticeship program.

  • Special Business means all business transacted at a special meeting of shareholders and all business transacted at an annual meeting of shareholders, except consideration of the financial statements, auditor's report, election of directors and reappointment of the incumbent auditor;

  • Additional Business Centre(s means the city or cities specified as such in the relevant Final Terms;

  • Additional Business Centre means any city specified as such in the relevant Final Terms.

  • Principal Business means the primary activity as determined by analyzing the amount of capi- tal, labor, time, attention, and floor space devoted to each business activity and by analyz- ing the sources of net income and gross income. The name, appearance, and advertising of the entity may also be taken into consideration if they are given less weight.

  • Retail Business means a business which sells its product directly to a consumer.

  • Annual Business Plan means the development plan and budget report for Party B’s Business in the next calendar year which is prepared by Party B with the assistance of Party A pursuant to this Agreement before November 30 of each year.

  • Alarm business means the business by any individual, partnership, corporation, or other entity of selling, leasing, maintaining, servicing, repairing, altering, replacing, moving or installing any alarm system or causing to be sold, leased, maintained, serviced, repaired, altered, replaced, moved or installed any alarm system in or on any building, structure or facility.

  • Business has the meaning set forth in the Recitals.

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which –

  • Company Business means the business of the Company as presently conducted.

  • Supply Business means the licensed business of the Licensee and anyaffiliate or related undertaking of the Licensee as a Supplier but shall not include the business carried out by the Board in its capacity as public electricity supplier;

  • Business Week means five consecutive Business Days, excluding Public Holidays as defined in the Public Holidays Act;

  • Substantial business relationship means the extent of a business relationship necessary under applicable state law to make a guarantee contract issued incident to that relationship valid and enforceable. A guarantee contract is issued "incident to that relationship" if it arises from and depends on existing economic transactions between the guarantor and the owner or operator.

  • Core Business means any material line of business conducted by the Company and its Subsidiaries as of the Closing Date and any business directly related thereto.

  • Initial Business Plan means the business plan to be provided by the Franchisee to the Secretary of State as described in paragraph 2.1 of Schedule 13 (Information and Industry Initiatives);

  • Private Business Use means use (directly or indirectly) in a trade or business or activity carried on by any Private Person (other than a Tax-Exempt Organization) other than use as a member of, and on the same basis as, the general public.

  • food business means any undertaking, whether for profit or not and whether public or private, carrying out any of the activities related to any stage of production, processing and distribution of food;

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Branch business means any insurance business transacted by a branch captive insurance company in this State.

  • Auto business means the business or occupation of selling, repairing, servicing, storing or parking "autos".

  • Business Centre means each of the places so specified in the relevant Pricing Supplement.

  • Valid business purpose means one or more business purposes that alone or in combination

  • Licensed Business means the activities connected with the conveyance of

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Public business means and includes all matters which relate in any way, directly or indirectly, to the performance of the public body’s functions or the conduct of its business.