Unearned premiums definition
Unearned premiums means the portion of premiums received relating to the period of risk in subsequent accounting periods and which is deferred to such subsequent accounting periods.
Unearned premiums means the portion of premiums within a policy term which have not yet earned.
Unearned premiums means the amount set aside by a company at the end of its financial year out of premiums in respect of risks to be borne by the company after the end of its financial year under contracts of insurance entered into before the end of the year;
Examples of Unearned premiums in a sentence
Unearned premiums will be returned on deaths, surrenders and other terminations.
Unearned premiums with respect to coverage which does not continue for a Partnership that has terminated its participation hereunder shall be refunded to such Partnership to the extent that such premiums are received by Manager from insurers following termination of coverage for the Partnership.
Unearned premiums on policies of insurance purchased by Company before the Closing Date providing such unearned premiums are not used in determining Net Working Capital under Article 3 hereof.
Unearned premiums represent the portion of premiums written which is applicable to the unexpired terms of policies in force.
Unearned premiums ceded reflect the amount of unearned premiums attributable to reinsurers under the terms of the Company’s cession reinsurance contracts.
More Definitions of Unearned premiums
Unearned premiums means, as of any given date, the aggregate premium attributable to the unexpired coverage period of all insurance policies produced under the Agreement, as determined in accordance with generally accepted statutory accounting principles consistently applied. For this purpose, premium shall be the written premium charged on the insurance policy for the period such policy is in force irrespective of the subsequent billing and collection of such premium.
Unearned premiums means that portion of Net Written Premiums not earned because the Policy term has not expired as of the date for which the calculation is made.
Unearned premiums means the portion of an insurance premium paid in advance to an insurance company (or other issuer of a policy) but not yet earned by such company, and subject to refund in the event the applicable policy is cancelled.
Unearned premiums means the amount set aside as at the end of an insurer’s financial year out of premiums in respect of risks to be borne by the insurer after the end of that year, and calculated pro rata, under contracts of insurance entered into before the end of that year.
Unearned premiums means the portion of a
Unearned premiums means that portion of Net Written Premiums not earned because the Policy term has not expired as of the date for which the calculation is made. Article 3 – Confidentiality
3.1 During the term of this Agreement, one Party to this Agreement (“Disclosing Party”) may reveal to the other Party (“Receiving Party”) certain confidential or proprietary information related to its business operations, proprietary software applications and other intellectual property, and other information. All such information and all information related to the Authorized Business and this Agreement, whether oral, written, electronic or otherwise, furnished by Disclosing Party to Receiving Party, its directors, officers, employees, agents, consultants, or representatives (“Representatives”), together with analyses, working papers, notes, compilations, studies, or other documents or records prepared by Disclosing Party or its Representatives which contain or otherwise reflect or are generated from such information, are collectively referred to herein as “Confidential Information.”
3.2 Receiving Party agrees to use Confidential Information solely for the purpose of this Agreement, the Affiliated Reinsurance Agreement, the Quota Share Reinsurance Agreement, or the Excess of Loss Reinsurance Agreement (and no other purposes) and shall keep Confidential Information confidential and not disclose Confidential Information to others, except that Disclosing Party may disclose Confidential Information to its Representatives who need to know Confidential Information, or to whom such disclosure is reasonably desirable, for the sole purpose of Receiving Party’s performance under this Agreement, the Affiliated Reinsurance Agreement, the Quota Share Reinsurance Agreement, or the Excess of Loss Reinsurance Agreement. 3 Managing General Agency Agreement Effective July 1, 2006 3.3 Receiving Party may disclose Confidential Information to any of its affiliates and any of their respective directors, officers, employees, agents, consultants, or representatives (each an “Authorized Recipient”) who need to know the Confidential Information solely for the purpose of Receiving Party’s performance under this Agreement, the Affiliated Reinsurance Agreement, the Quota Share Reinsurance Agreement, or the Excess of Loss Reinsurance Agreement, provided that each Authorized Recipient shall have agreed to treat such Confidential Information in accordance with the terms of this Agreement as if such Authorized Recipient...
Unearned premiums means the portion of a premium previously paid for which the coverage period is in the future."