premiums written, net: Gross premiums written less premiums ceded to reinsurers.
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premiums written, gross: Total premiums received from all sources including reinsurance assumed from other insurers.
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premiums earned, net: Gross premiums earned less premiums earned on business ceded to reinsurers
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premiums earned, gross: The amount of premiums received for in advance that are earned by virtue of the expiration of risk.
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premium revenue: Net premiums (direct premiums plus reinsurance assumed less reinsurance ceded) plus annuity and fund deposits.
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Premium Loan – insurance term definition
premium loan: A policy loan made for the purpose of paying premiums.
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Premium – insurance term definition
premium: The payment, or one of the regular periodic payments, that a policyholder makes to own an insurance policy.
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preferred provider organization (PPO): Plan through which a sponsoring group negotiates price discounts with providers in exchange for patients. The sponsor may be an insurer, employer, or third-party administrator.
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precertification: A utilization management program that requires the insured or the health care provider to notify the insurer prior to a hospitalization or surgical procedure. The notification allows the insurer to authorize payment, as well as to recommend alternate courses of action.
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pre-existing condition: Any physical and/or mental condition or conditions that exist prior to the effective date of health insurance coverage. Many disability policies and individual health plans exclude benefits for any illness or injury for which a person received medical treatment or consultation within a specified time period before becoming covered under the plan.
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