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GAMBLING POLICY

A policy in respect of which the assured or reassured has no insurable interest, and no reasonable expectation of acquiring such interest.

GENERAL LAYERS

Layers of EXCESS OF LOSS reinsurance that protect the main account of the REINSURED. For example a marine company may purchase excess of loss reinsurances that cover all his marine account underwriting such as Hulls, Cargo, War, Energy etc. Such covers would be termed as "generals" as opposed to SPECIFICS. See also UMBRELLA LAYERS.

GENERALS See GENERAL LAYERS
GNEPI GROSS NET EARNED PREMIUM INCOME.
GNPI GROSS NET PREMIUM INCOME.
GNWPI GROSS NET WRITTEN PREMIUM INCOME.
GPI GROSS PREMIUM INCOME
GROSS NET EARNED PREMIUM INCOME The REINSURED’s gross EARNED PREMIUM income less return premiums and less premiums n reinsurances which inure to the benefit of the cover in question.
GROSS NET PREMIUM INCOME. The REINSURED’s gross WRITTEN PREMIUM income less return premiums and less premiums on reinsurances which inure to the benefit of the cover in question.
GROSS NET WRITTEN PREMIUM INCOME The REINSURED’s gross WRITTEN PREMIUM income less return premiums and less premiums on reinsurances which inure to the benefit of the cover in question.
GROSS PREMIUM INCOME The REINSURED’s gross WRITTEN PREMIUM less return premiums.