https://www.insurerbrain.com/w/index.php?action=history&feed=atom&title=Definition%3APremium_reporting 2026-05-01T05:59:41Z Revision history for this page on the wiki MediaWiki 1.43.8 https://www.insurerbrain.com/w/index.php?title=Definition:Premium_reporting&diff=19007&oldid=prev 2026-03-16T09:43:36Z

<p>Bot: Creating new article from JSON</p> <p><b>New page</b></p><div>📋 &#039;&#039;&#039;Premium reporting&#039;&#039;&#039; is the process by which [[Definition:Insured | insureds]], [[Definition:Managing general agent (MGA) | MGAs]], or [[Definition:Intermediary | intermediaries]] communicate earned or written [[Definition:Premium | premium]] figures back to [[Definition:Insurance carrier | carriers]] or [[Definition:Reinsurer | reinsurers]], typically on a periodic schedule defined in the underlying [[Definition:Insurance policy | policy]] or [[Definition:Reinsurance | reinsurance]] contract. In many commercial and specialty lines, the final premium owed is not fixed at inception but depends on variable exposures — such as [[Definition:Payroll | payroll]], revenue, or units of risk — that only become known as the policy period unfolds. Premium reporting is the mechanism that keeps all parties aligned on actual exposure and the corresponding premium due.<br /> <br /> 🔄 The mechanics vary depending on the arrangement. Under [[Definition:Adjustable premium | adjustable-premium]] policies and many [[Definition:Treaty reinsurance | reinsurance treaties]], the [[Definition:Policyholder | policyholder]] or [[Definition:Cedent | cedent]] submits periodic bordereaux or declarations — monthly, quarterly, or at some other agreed interval — detailing the exposure base for the period. The [[Definition:Underwriter | underwriter]] or reinsurer then calculates the premium owed by applying the agreed [[Definition:Rate | rate]] to reported exposures. In [[Definition:Delegated underwriting authority (DUA) | delegated authority]] arrangements, [[Definition:Coverholder | coverholders]] report bound premiums through [[Definition:Bordereau | bordereaux]] that feed into the carrier&#039;s financial and regulatory reporting systems. Across jurisdictions, the format and granularity of these reports are shaped by local regulatory expectations: [[Definition:Lloyd&#039;s | Lloyd&#039;s]] mandates structured premium data through its central accounting systems, while the [[Definition:National Association of Insurance Commissioners (NAIC) | NAIC]]&#039;s statutory reporting framework in the United States imposes its own schedules, and [[Definition:Solvency II | Solvency II]] jurisdictions require granular data for [[Definition:Technical provisions | technical-provision]] calculations under [[Definition:IFRS 17 | IFRS 17]].<br /> <br /> 📊 Accurate and timely premium reporting underpins nearly every downstream function in an insurance operation — from [[Definition:Reserving | reserving]] and [[Definition:Loss ratio | loss-ratio]] analysis to [[Definition:Commission | commission]] payments and regulatory capital calculations. When reporting is delayed or inaccurate, carriers may misjudge their exposure, reinsurers may not receive the premium they are owed, and financial statements can materially misstate [[Definition:Earned premium | earned premium]]. For [[Definition:Insurtech | insurtech]] platforms and modern [[Definition:Policy administration system | policy administration systems]], automating premium reporting has become a key value proposition — replacing spreadsheet-based workflows with real-time data feeds that reduce reconciliation errors and accelerate the close process.<br /> <br /> &#039;&#039;&#039;Related concepts:&#039;&#039;&#039;<br /> {{Div col|colwidth=20em}}<br /> * [[Definition:Bordereau]]<br /> * [[Definition:Earned premium]]<br /> * [[Definition:Adjustable premium]]<br /> * [[Definition:Delegated underwriting authority (DUA)]]<br /> * [[Definition:Written premium]]<br /> * [[Definition:Treaty reinsurance]]<br /> {{Div col end}}</div>

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