Earned Premium

The amount of the premium that as been paid for in advance that has been "earned" by virtue of the fact that time has passed without claim. A three-year policy that has been paid in advance and is one year old would have only partly earned the premium.

See Also: Employers Liability Insurance; Eligibility requirements; Emergency reunion; Emergency evacuation; Evidence of insurability; Exclusions in health insurance; Exposure; Expense Ratio; Encumbrance; Evidence Clause; Exclusive Agency System;

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