Glossary

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Gross Negligence: reckless action without regard to life, limb, and/or property; for example driving 100 miles per hour on a road or highway.
Gross Premium: The total premium before deduction of discounts.
Gross Written Premiums: Premiums received by or due to an insurer without deduction of the costs of any reinsurance or any adjustment for the fact that some of the income has to be reserved for unexpired risks.