Cumulative Earned Premium [Federal Crop Insurance Corporation] Law and Legal Definition

According to 7 CFR 400.302 [Title 7—Agriculture; Subtitle B -- Regulations of the Department of Agriculture; Chapter IV -- Federal Crop Insurance Corporation, Department of Agriculture; Part 400 -- General Administrative Regulations; Subpart O -- Non-Standard Underwriting Classification System Regulations for the 1991 and Succeeding Crop Years], cumulative earned premium rate “is the total premium earned for all years in the base period, divided by the total liability for all years in the base period with the result expressed as a percentage.”