[G033]

gross net written premium income (GNWPI)

The generic term to describe the rating base for excess of loss reinsurance:

1) the ceding company's premium income (as opposed to premium receipts).

2) measured net, meaning after cancellations, refunds and premiums paid for reinsurance protecting the cover being rated.

3) gross, meaning before deducting any expenses.

(See Subject Premium.)

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100