Examples of FACULTATIVE REINSURANCE in a sentence
This additional automatic coverage shall apply to insurance which is covered under this agreement (as specified in paragraph 1 of the "REINSURANCE COVERAGE" article) but which does not meet all the conditions outlined in paragraph 2 of the "AUTOMATIC AND FACULTATIVE REINSURANCE" article.
Flat extra premiums are reinsured at the Ceding Company's flat extra premium rates: TERM OF FLAT EXTRA FIRST YEAR ALLOWANCE RENEWAL YEARS ALLOWANCE ------------------ -------------------- ----------------------- More than 5 Years [percentage] [percentage] 5 Years or Less [percentage] [percentage] o FACULTATIVE REINSURANCE PREMIUMS Facultative reinsurance premiums are the same as the automatic reinsurance premiums specified above.
Specifically, “Item 3" and “Item 4” of the Declarations page state:ITEM 3 - COMPANY [PEIC] RETENTION THE FIRST $1,000,000 SUBJECT TO FACULTATIVE REINSURANCE.
FACULTATIVE REINSURANCE If a policy covered under this Agreement is offered facultatively to the Reinsurer only, then the Reinsurer's liability shall begin simultaneously with the Company's contractual liability for this facultative policy.
Xxxxx Second Vice President & Actuary Director of Reinsurance DATE: 5/21/98 DATE: 5/21/98 [page break] AUTOMATIC YRT AGREEMENT BETWEEN C.M. LIFE INSURANCE COMPANY AND MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY AND THE LINCOLN NATIONAL LIFE INSURANCE COMPANY TABLE OF CONTENTS ARTICLE/SCHEDULE TITLE PAGE ARTICLE I AUTOMATIC REINSURANCE 1 ARTICLE II PROVISION FOR FACULTATIVE REINSURANCE 2 ARTICLE III BASIS OF REINSURANCE 3 ARTICLE IV PREMIUMS 3 ARTICLE V STANDARD PROVISIONS 4 A.