Net Premiums Written
Total premiums written by a ceding company minus premiums ceded to its reinsurer.
Popular Insurance Terms
Rating system under which a specific premium rate, rather than a manual or class rate, is assigned to each unit of exposure. ...
Extra percent of interest credited to an annuity during the first year that it is in force. This extra amount is above the interest rate to be credited beginning with the second year and ...
Payments in excess of the value of the loss a prohibited practice. When an insured has more than one policy covering a risk, the full value cannot be collected from each policy if a loss ...
each individual has an unlimited insurable interest in his or her own life, and therefore can select anyone as a beneficiary. parent and child, husband and wife, brother and sister have an ...
System whereby benefits in an employee benefit insurance plan vary according to the employee's earnings. ...
Return of employer contributions to a pension if that plan is (1) newly established and is determined by the IRS not to be tax qualified; or (2) long established but the IRS disallows a ...
In insurance, volume of premiums written. Also describes commercial activities with the profit motive as the goal of the organization. Commercial insurance companies are organized with the ...
in life insurance, difference between the face value of a life insurance policy and its cash value (also known as "pure amount of protection"). ...
Coverage in which the investment features, mortality element, and cost factors of a life insurance policy are separated, permitting each part to be independently analyzed. The savings ...
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