Underwriting Expenses definition

Underwriting Expenses means direct costs (including but not limited to business acquisition, actuarial costs, and inspections) and indirect costs (including but not limited to X fees and costs, accounting, commissions paid, legal and customer service expenses).

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Underwriting Expenses means all expenses incurred individually or collectively by the Exchange, Company, and ERIE-New York in the acquisition of insurance and reinsurance business, the issuance of insurance policies and contracts, and the rendering of services under the contracts, including premium taxes, licenses and fees, and such other underwriting expenses relating to insurance operations as may be mutually agreeable to the parties excluding federal and foreign income taxes, investment expenses and any other expenses not related to underwriting operations.

Underwriting Expenses means other underwriting expenses as calculated for the Underwriting and Investment Exhibit, Part 4, column 2 of the statutory annual statement.

Examples of Underwriting Expenses in a sentence

Ceding commissions also will include an additional amount of Other Underwriting Expenses equal to direct charges incurred by the company for travel, underwriting, and other expenses directly incurred by the Company to underwrite Traditional Programs.
The Exchange shall render to the Company and to ERIE-New York at such periods as are mutually agreed upon (but not less frequently than quarterly), a statement showing net premiums received, Underwriting Expenses (including dividends paid to policyholders), net losses and loss adjustment expenses paid during the accounting period.
The Exchange agrees to act on behalf of the Company and ERIE-New York to fulfill all the respective obligations of the Company and ERIE-New York under the Insurance Policies reinsured hereby and to adjust and pay all claims thereunder and to pay all Underwriting Expenses (including dividends to policyholders) on behalf of the Company and ERIE-New York, and the Company and ERIE-New York hereby agree to the Exchange acting on their behalf with respect to such matters.
Such commission allowance includes provision for Loss Adjustment Expenses and for Other Underwriting Expenses as reported by Reinsured in the Underwriting and Investment Exhibit, Part 3, columns 1 and 2, page 11, of the Reinsured’s Annual Statement.
The ceding commission will be an amount equal to each Pool Member's respective Pool Share of the actual cost incurred by SCPIE Indemnity for Underwriting Expenses relating to such Net Unearned Premium reserve.
All Underwriting Expenses will be borne by the Registering Shareholders pro rata on the basis of the amount of gross proceeds from the sale of their Company Securities so registered.
As reimbursement for services provided under the Service Agreement and this Agreement, Manager shall receive the fees set forth in Sections 1.6(g) and 3.17 of the Service Agreement.
As used herein, Reinsured’s “Expense Ratio” for any year subject to this Agreement shall be Reinsured’s Loss Adjustment Expenses and for Other Underwriting Expenses (as reported by Reinsured in the Underwriting and Investment Exhibit, Part 3, columns 1 and 2 of the Reinsured’s Annual Statement) divided by the premium (as defined in Article III) that Reinsured ceded to Reinsurer.
All Underwriting Expenses will be borne by the Company and the Registering Shareholders pro rata on the basis of the amount of gross proceeds from the sale of their shares so registered.

More Definitions of Underwriting Expenses

Underwriting Expenses means for an Insurance Company, its operating expenses (as set forth in the Statutory Statements) reduced by Fee Income/Finance and Service Charges Not Included in Premiums for such period, determined in accordance with SAP.

Underwriting Expenses means all expenses incurred by SCPIE Indemnity or the Pool Members or both in the underwriting and placing of insurance on its or their books and shall include but shall not be limited to expenses incurred for commissions, all other agency obligations, agency supervision, underwriting, engineering, policy audits, advertising, supervision as it relates to the production of business, taxes, other than federal income taxes and such other expenses as may be mutually agreeable to the parties.

Underwriting Expenses means any underwriting fees, discounts, commissions or taxes attributable to the sale of Registrable Securities.