Automatic Cessions. Whenever the plan of insurance on any policy reinsured hereunder is being changed, including internal replacements, and the Company is not obtaining evidence in accordance with the Company’s full new business underwriting rules, or as agreed otherwise by the Company and the Reinsurer, the reinsurance shall remain in effect with the Reinsurer on the following basis:
Appears in 9 contracts
Sources: Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Reinsurance Agreement (John Hancock Life Insurance Co of New York Separate Account B), Reinsurance Agreement (John Hancock Life Insurance Co of New York Separate Account B)
Automatic Cessions. Whenever the plan of insurance on any policy reinsured hereunder is being changed, including internal replacements, and the Company is not obtaining evidence in accordance with the Company’s 's full new business issue underwriting rules, or as agreed otherwise by the Company and the Reinsurer, the reinsurance shall remain in effect with the Reinsurer on the following basis:
(a) the reinsurance rates and the durations shall be based on those applicable to the original cession;
(b) the reinsurance amount at risk shall be determined according to the terms of this Agreement but in no event shall be more than the original cession at the time of the change in plan.
Appears in 1 contract
Sources: Reinsurance Agreement (Ids Life of New York Account 8)