premium which has been paid to an insurance company, but which has not been earned from the insurer’s standpoint.
The portion of an insurance premium that applies to the unexpired portion of the policy period. For example, in the case of health insurance being paid in advance prior to the term of coverage, the entire premium is considered unearned until the term of coverage begins. Half way through the term, half of the premium is considered unearned and so on.
The pro-rated portion of the written premium for which an insurer has provided no coverage under each policy if it were canceled before the end of the policy term.
That portion of an advance premium that has not yet been used for coverage written. Thus in the case of an annual premium, at the end of the first month of the premium period, 11 months of the premium would still be "unearned," etc.
The portion of the premium for the remaining time period that the policy will not be in force.
The part of your policy term remaining before expiration.
Portion of a premium that may be returned to the policyholder if a claim resulting in a total loss takes place before the end of the policy term and eliminates the need for continued coverage.
The insured´s remaining premium equity in his policy; that part of the policy premium that has not been "used up."
That part of the original premium charged for the insurance that cannot be considered “earned” by the company beyond the current date, since protection still must be afforded throughout the remaining life of the contract.
The portion of a premium that a company has collected but has yet to earn because the policy still has unexpired time to run.
That portion of an insurance premium that would have to be returned to the insured if the policy were cancelled.
A portion of the paid premium that applies to the unexpired portion of the contract term.
The portion of the written premium that can be applied to the unexpired or unused part of the period for which the premium has been paid or refunded to the insured. For example, in the case of an annual premium, at the end of the first month of the premium period, 11/12 of the premium is unearned.
That portion of the original premium that applies to the unexpired portion of risk. A fire or casualty insurer or reinsurer must carry a reserve against all unearned premiums as a liability in its financial statement, for if the policy should be canceled, the company would have to pay back the unearned part of the original premium.
The part of the premium collected by an insurance company that it has yet to earn because its term has not expired.
The portion of the premium representing the unexpired portion of the policy term.
That portion of a premium already received by the insurer for which protection has not yet been provided.
The part of a premium left on a given policy term.
Premium already paid to an underwriter that is in respect of a period when he was not at risk.
(Prime non acquise) The part of the premium which has not been used or earned, and which must be returned to the insured in the event of cancellation of policy by the company prior to its full term.
The portion of your premium remaining on your policy term. For example, with a six-month premium, at the end of the first month of the premium period, five-sixths of the premium is unearned by the insurance company.
That portion of the written premium applicable to the unexpired or unused part of the period for which the premium has been paid. Thus, in the case of an annual premium, at the end of the first month of the premium period, eleven-twelfths of the premium is unearned.
Unearned premium is a part of a premium remaining in your policy.
General] the portion of the premium for a policy or group of policies as of a VALUATION DATE attributable to coverage after the valuation date
That portion of the policy premium that represents the unexpired policy term.
The portion of a premium already received by the insurer under which protection has not yet been provided. The entire premium is not earned until the policy period expires, even though premiums are typically paid in advance.
that portion of the original premium that has not yet been "earned" by the company as the policy still has some time to run. A fire or casualty insurance company must carry all unearned premiums as a liability in its financial statement, because if the policy should be cancelled, the company would have to pay back the unearned portion of the premium.
The portion of a premium payment that applies to the unexpired portion of the policy period.