AUTOMATIC AND FACULTATIVE REINSURANCE Sample Clauses

AUTOMATIC AND FACULTATIVE REINSURANCE. A. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meets the following requirements:
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AUTOMATIC AND FACULTATIVE REINSURANCE. (Continued)
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AUTOMATIC AND FACULTATIVE REINSURANCE. (continued)
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AUTOMATIC AND FACULTATIVE REINSURANCE. All terms and conditions of these Agreements not in conflict with the terms and conditions of this Amendment shall continue unchanged.
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AUTOMATIC AND FACULTATIVE REINSURANCE. (Continued) conditional receipt or temporary insurance agreement is limited to the lesser of i. or ii. below:
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AUTOMATIC AND FACULTATIVE REINSURANCE. Reinsurer will be notified before issue anytime the Jumbo Limit exceeds $ . Reinsurer’s Automatic Binding Limit: $ for issue ages (Standard through Table P) $ for issue ages (Standard) $ for issue ages (Tables A through P) $ for issue ages (Standard through Table H) $ for issue ages (Tables J through P) $ for issue ages (Standard) $ for issue ages (Tables A through D) $ for issue ages (Standard) Automatic Issue Limit: $ Issue Ages: 0-90 CESSION LIMITS PER REINSURER (applies to Automatic and Facultative cases): Minimum Initial Cession: $10,000 Trivial Amount: $1 Minimum Face Amount: $50,000 Minimum Facultative Cession: $100,000 SCHEDULE C: FACULTATIVE SUBMISSION FORM «LAST»«POLICY_NO» Face Amount «COV_AMOUNT1» Policy # «POLICY_NO» First Name «FIRST» Last Name «LAST» DOB Second Insured First Name Last Name DOB Send To: XXXXXXXXX (Minimum face amount $ ) XXXXXXX(Excess Only) Excluding Survivorships MassMutual insurance inforce XXXXXX (Minimum face amount $ ) Of which we retain with XXXXXXXX (Minimum face amount $ ) parent or affiliate XXXXXXX (Excess Only) Insurance now applied for XXXXXXXX (Minimum face amount $ ) Of which we will retain XXXXXXXX (Excess Only) Excluding Survivorships XXXXXXX (Excess Only) Reinsurance applied for ¨ Send previously saved case to new Reinsurer Underwriting Data Insured Number 1 Insured Number 2 Insured Number 1 Insured Number 2 Application ¨ ¨ Financial Report ¨ ¨ Non-Medical ¨ ¨ Cover Letter ¨ ¨ Medical Exam ¨ ¨ APS ¨ ¨ ECG ¨ ¨ APS ¨ ¨ X-Ray ¨ ¨ APS ¨ ¨ Lab Report ¨ ¨ ¨ ¨ Specimen ¨ ¨ ¨ ¨ Inspection ¨ ¨ ¨ ¨ MVR ¨ ¨ ¨ ¨ Reason for Submission ¨ Retention/Amount ¨ Health ¨ Rating/Review Comments: SCHEDULE D: SPECIAL NET RISK CALCULATIONS
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AUTOMATIC AND FACULTATIVE REINSURANCE. Except as provided herein, all other terms, provisions and conditions of the above-referenced Agreement remain in full force and effect.
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AUTOMATIC AND FACULTATIVE REINSURANCE. 1. When the REINSURED retains its limit of retention, as shown in Schedule A, it may cede and the LINCOLN shall accept automatically reinsurance of Life, Disability, and Accidental Death insurance in amounts not to exceed those shown in Schedule B.
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AUTOMATIC AND FACULTATIVE REINSURANCE. A. The Ceding Company shall automatically cede to the Reinsurer reinsurance of that portion of individual life policies and supplemental benefits as specified in Schedule A – Accepted Coverages, and the Reinsurer shall automatically accept such reinsurance that meets the following requirements: 2 The mortality rating on each individual risk must not exceed 500% (Table 16 or P), or its equivalent on a flat extra premium basis.
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Related to AUTOMATIC AND FACULTATIVE REINSURANCE

  • FACULTATIVE REINSURANCE For Facultative reinsurance, the Reinsurer’s liability will commence at the same time as the Ceding Company’s liability, provided that the Reinsurer has made a binding Facultative offer and that offer was accepted, during the lifetime of the insured, in accordance with the terms of this Agreement.

  • Automatic Reinsurance For automatic reinsurance, the Reinsurer's liability will commence at the same time as the Ceding Company's liability, including liability under any conditional receipt or temporary insurance provision.

  • Credit for Reinsurance Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.

  • Reinsurance The Contractor shall purchase reinsurance from a commercial reinsurer and shall establish reinsurance agreements meeting the requirements listed below. The Contractor shall submit new policies, renewals or amendments to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective.  Agreements and Coverage  The attachment point shall be equal to or less than $200,000 and shall apply to all services, unless otherwise approved by OMPP. The Contractor electing to establish commercial reinsurance agreements with an attachment point greater than $200,000 must provide a justification in its proposal or submit justification to OMPP in writing at least one hundred and twenty (120) calendar days prior to the policy renewal date or date of the proposed change. The Contractor must receive approval from OMPP before changing the attachment point.  The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).  Reinsurance agreements shall transfer risk from the Contractor to the reinsurer.  The reinsurer's payment to the Contractor shall depend on and vary directly with the amount and timing of claims settled under the reinsured contract. Contractual features that delay timely reimbursement are not acceptable.  The Contractor shall maintain a plan acceptable to the IDOI commissioner for continuation of benefits in the event of receivership. The Contractor must finance the greater of $1,000,000 or total projected costs as calculated by the form set forth in 760 IAC 1-70-8.  The Contractor shall obtain continuation of coverage insurance (insolvency insurance) to continue plan benefits for members until the end of the period for which premiums have been paid. This coverage shall extend to members in acute care hospitals or nursing facility settings when the Contractor’s insolvency occurs during the member’s inpatient stay. The Contractor shall continue to reimburse for its member’s care under those circumstances (i.e., inpatient stays) until the member is discharged from the acute care setting or nursing facility.  Requirements for Reinsurance Companies  The Contractor shall submit documentation that the reinsurer follows the National Association of Insurance Commissioners' (NAIC) Reinsurance Accounting Standards.  The Contractor shall be required to obtain reinsurance from insurance organizations that have Standard and Poor's claims- paying ability ratings of "AA" or higher and a Xxxxx’x bond rating of “A1” or higher, unless otherwise approved by OMPP.  Subcontractors  Subcontractors’ reinsurance coverage requirements must be clearly defined in the reinsurance agreement.  Subcontractors should be encouraged to obtain their own stop-loss coverage with the above-mentioned terms.  If subcontractors do not obtain reinsurance on their own, the Contractor is required to forward appropriate recoveries from stop- loss coverage to applicable subcontractors.

  • Employment Insurance Rebate The short-term sick leave plan shall be registered with the Employment Insurance Commission (EIC). The nurses' share of the employer's Employment Insurance premium reduction will be retained by the Hospital towards offsetting the cost of the benefit improvements contained in this agreement.

  • Other Reinsurance The Company shall be permitted to carry other reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to the North American Re the portion of the initial risk amount in excess of its retention thereafter, the Ceding Company and the North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • Reinsurance Administration THE COMPANY shall perform all duties with respect to the administration of the reinsurance under this Agreement on the portion of the policies reinsured under this Agreement.

  • BASIS OF REINSURANCE Reinsurance under this Agreement will be on the Yearly Renewable Term basis on the portion of each policy that is reinsured as described in Schedule A.

  • Unemployment Insurance Unemployment Insurance coverage will be provided during the life of this Agreement for regular and auxiliary employees who would, if employed by a private employer, be eligible for such coverage under the provisions of the Unemployment Insurance Act.

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