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Auto>General Auto

What is the definition of gross premium?

Updated: 9/11/2023

Wiki User

∙ 16y ago

Best Answer

It is your total premium paid.

Wiki User

∙ 16y ago

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Money set aside to fund future benefit payouts

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Is net premium written gross premium written less net ceded premium meaning gross ceded premium less ceding commission?

Net Premiums written = Gross Written premium less deductions for commissions and ceded reinsurance.

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