premium

(redirected from unearned premium)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.
Related to unearned premium: Unearned Premium Insurance, Unearned Premium Reserve

pre·mi·um

(prē'mē-ŭm)
The amount that must be paid to the insurer to maintain the desired health insurance coverage.

premium

(prē′mē-um)
A payment made periodically to a health care insurer in exchange for benefits coverage (indemnity against future expenses).

pre·mi·um

(prē'mē-ŭm)
The amount that must be paid to the insurer to maintain the desired health insurance coverage.

premium,

n the amount charged by a dental benefits organization for coverage of a level of benefits for a specified time.
premium, earned,
n the portion of a policy's premium payment for which the protection of the policy has already been given.
premium rate,
n the price per unit of insurance.
premium tax,
n an assessment levied by a state government, usually on the net premium income collected in that state by insurance companies.
premium, unearned,
n the part of the premium applicable to the unexpired part of the policy period.
References in periodicals archive ?
If the premium is a single premium received at the inception of the financial guarantee insurance contract, the insurance enterprise shall initially measure the unearned premium revenue at the amount received.
if the risk of loss arises uniformly over the contract period, the unearned premium is that portion of the coverage which has not expired.
As with most automobile warranty and vehicle service writers, loss reserves are generally not material, with the bulk of liabilities in the unearned premium reserves of policies offering multi-year coverage.
Deferred policy acquisition costs increased to reflect the associated acquisition costs on the increased unearned premium balances.
The cumulative effect of the accounting change affected the Company's unearned premium reserve, loss and loss adjustment expense reserve and deferred acquisition costs, as well as the Company's categories for credits that require a reserve.
7 million in unearned premiums transferred, which was partially offset by $11.
The agreement will be effective December 31, 2012 when the Company will cede 50% of its unearned premium on the selected book of business and receive a provisional ceding commission.
15 billion (which combined comprise qualified statutory capital, shown below), and unearned premium and loss and loss adjustment expense reserves totaling $1.
Pursuant to this reinsurance contract, Vesta's property and casualty subsidiaries will cede an additional 25% of the Companies' unearned premium for policies in force as of December 1, 2005 and of the written premium for policies issued or renewed during the term of the agreement.
Adjusted book value is defined as book value (stockholders' equity), plus the after-tax value of the net unearned premium reserve less deferred acquisition costs, plus the after-tax present value of future installment premiums (discounted at 5%).
Fitch considers RVI's capitalization to be strong, albeit non-traditional, as the company has a significant unearned premium reserve (UPR) balance, a portion of which Fitch includes when measuring RVI's true capital position.