unearned premium
11the amount set aside by a firm at the end of its financial year out of premiums in respect of risks to be borne by the firm after the end of the financial year under contracts of insurance entered into before the end of that year.
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Timeline guidance11the amount set aside by a firm at the end of its financial year out of premiums in respect of risks to be borne by the firm after the end of the financial year under contracts of insurance entered into before the end of that year.