earned premium

noun

: the difference between the amount of premium paid by the insured and the amount returned to the insured by the insurer upon cancellation of a policy before its term expires

Dictionary Entries Near earned premium

Cite this Entry

“Earned premium.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/earned%20premium. Accessed 5 Nov. 2024.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!