earned premium

noun

Legal Definition of earned premium

: 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

Learn More About earned premium

Dictionary Entries Near earned premium

earned income

earned premium

earned surplus

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Cite this Entry

“Earned premium.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/earned%20premium. Accessed 31 Jul. 2021.

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