The portion of a policy premium, which the company has earned; the portion, which the insured has "used up."
(Prime acquise) The premium for the amount of insurance that has been used or has elapsed. The portion of premium which would pay for insurance from the start date of the policy until the particular date at which items are deleted or the policy is terminated. It is the expired portion of a premium.
premium which has been paid by the insured and which has been earned from the insurer’s point of view for protection provided.