gross premium


gross premium
The net premium, which is the cost of the insurance, that is, the amount required on an actuarial basis to carry the risk, plus loading for expenses and contingencies. Fox v Mutual Ben. Life Ins. Co. (CA8 Mo) 107 F2d 715.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • gross premium — Net (insurance) premium plus loading for expenses and contingencies; i.e., the net premium represents the cost of insurance. Fox v. Mutual Ben. Life Ins. Co., C.C.A.Mo., 107 F.2d 715, 719 …   Black's law dictionary

  • gross premium — Net (insurance) premium plus loading for expenses and contingencies; i.e., the net premium represents the cost of insurance. Fox v. Mutual Ben. Life Ins. Co., C.C.A.Mo., 107 F.2d 715, 719 …   Black's law dictionary

  • gross premium — /grəυs pri:miəm/ noun the total premium paid by a policyholder before any tax relief or discount is taken into account …   Dictionary of banking and finance

  • gross premium — noun : the sum of the net premium in insurance and the load …   Useful english dictionary

  • premium — pre·mi·um / prē mē əm/ n 1: the difference between the face value or par value of a security and its market price when the latter is greater compare discount 2: the price paid for an insurance contract equal to the cost per unit times the number… …   Law dictionary

  • premium — consideration paid for an insurance policy. Glossary of Business Terms (1) The additional payment allowed by exchange regulation for delivery of higher than required standards or grades of a commodity against a futures contract. (2) In speaking… …   Financial and business terms

  • premium — A reward for an act done. Brown v. Board of Police Com rs of City of Los Angeles, 58 Cal.App.2d 473, 136 P.2d 617, 619. See also bonus A bounty or bonus; a consideration given to invite a loan or a bargain, as the consideration paid to the… …   Black's law dictionary

  • Gross premiums written — When a non life insurance company closes a contract to provide insurance against loss, the revenues (premiums) expected to be received over the life of the contract are called gross premiums written. Insurance companies often purchase reinsurance …   Wikipedia

  • premium — Synonyms and related words: Trinkgeld, abatement, agio, allowance, appreciation, at a premium, award, bait, bank discount, bank rate, bonus, bonus system, bounty, breakage, bribe, carrot, cash discount, chain discount, charge off, come on,… …   Moby Thesaurus

  • Net premium valuation — A Net Premium Valuation is an actuarial calculation, used to place a value on the liabilities of a life insurer. Background It involves calculating a present value for the contractual liabilities of a contract, and deducting the value of future… …   Wikipedia


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