premium

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premium

1. an amount paid in addition to a standard rate, price, wage, etc.; bonus
2. the amount above nominal or par value at which something sells
3. 
a. an offer of something free or at a specially reduced price as an inducement to buy a commodity or service
b. (as modifier): a premium offer
4. a fee, now rarely required, for instruction or apprenticeship in a profession or trade
References in periodicals archive ?
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 reserves.
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
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.