Financial Sector (Collection of Data) (reporting standard) determination No. 19 of 2016 - LOLRS 800.1 Policy Data: Public and Product Liability and Professional Indemnity Insurance
15b. Gross Earned Premium15b. Gross Earned Premium
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15b. Gross Earned Premium
In this field, insert the Lloyd’s proportion of the earned amount of gross annual premium for the exposure of this policy during the reporting period (in whole $, no decimal points) converted to A$ using end of processing month rates of exchange between the effective start date (field 12) and effective end date (field 14). Include the same components as for gross annualised premium.
For endorsements and cancellations, the gross earned premium should still be the earned amount of gross annual premium for the exposure of this policy during the reporting period (in whole $, no decimal points) between the effective start date of the endorsement or cancellation (field 12) and effective end date of the endorsement or cancellation (field 14).