Again, in the contract State Farm expressly reserved the right to accept late installment payments without reinstating coverage retroactively, declaring that any "[d]elay [by State Farm] in the return of any unearned premium
does not affect the cancellation date.
ANV announced separately the final accord on the transfer of the unearned premium
CONTENTS Objective/1 Standards of Financial Accounting and Reporting: Scope/2-7 Unearned Premium
Revenue/8-15 Initial Recognition and Measurement/8-12 Receivable for Future Premiums/11-12 Subsequent Measurement/13-14 Receivable for Future Premiums/14 Derecognition/15 Premium Revenue Recognition/16-21 Early Retirement and Replacement of an Insured Financial Obligation/20-21 Claim Liability/22-28 Recognition/22-23 Measurement/24-28 Expected Net Cash Outflows/25 Initial Measurement/26 Subsequent Measurement/27-28 Disclosures/29-31 Effective Date and Transition/32-35 Appendix A: Implementation Guidance/A1-A13 Appendix B: Background Information and Basis for Conclusions/B1-B55 Appendix C: Amendments to Existing Pronouncements/C1-C5
This amount is increased by 80% of the unearned premiums
on insurance contracts at the end of the preceding tax year, and is decreased by 80% of the unearned premiums
on insurance contracts at the end of the current tax year.
The reciprocal can eliminate the unearned premium
haircut by writing policies that coincide with its taxable year.
The reduction was mainly due to the increased claims in fire, medical and marine insurances in Bahrain and Kuwait and also due to the increase in unearned premium
reserves in motor insurance.
NGHC has also obtained a 10-day option to reinsure, on a prospective basis, not less than 60% of the unearned premium
reserve relating to Towers personal lines business.
Earnings in 2012 were negatively impacted by an increase in doubtful debt provisions and an adjustment in unearned premium
reserves to comply with the draft UAE insurance regulation and the International Financial Reporting Standards (IFRS).
based specialty program manager says it will surrender 50 percent of unearned premium
on a selected portion of its business in return for an undisclosed ceding commission, starting Dec.
The adoption of automated unearned premium
calculation to replace the old manual method resulted in additional provision of about BD270,000.
Also, under the terms of the agreement, Ariel has agreed to provide First Mercury with full protection related to the runoff of Valiant's net loss and loss adjustment expense reserves and unearned premium
reserves reflected on the closing date balance sheet.