AUTOMATIC PORTION REINSURED Sample Clauses
The "Automatic Portion Reinsured" clause defines the specific share of risk or liability that is automatically transferred from the primary insurer to the reinsurer under a reinsurance agreement. Typically, this clause outlines the percentage or amount of each policy or risk that will be ceded to the reinsurer without the need for individual negotiation or approval for each case. For example, it may state that 60% of all eligible policies are automatically reinsured. The core function of this clause is to streamline the reinsurance process, ensuring efficiency and predictability by clearly specifying the portion of risk that is consistently covered by the reinsurer, thereby reducing administrative burden and uncertainty for both parties.
AUTOMATIC PORTION REINSURED. For any policy reinsured under automatic reinsurance, the portion reinsured is shown in Schedule A.
AUTOMATIC PORTION REINSURED. 4 e. RETENTION............................................................4 f.
AUTOMATIC PORTION REINSURED. THE REINSURER will automatically reinsure under this Agreement, an amount equal to 10% of the net amount at risk related to the face amount of insurance that is in excess of $500,000, up to the First Layer of Coverage amounts shown in Schedule A, Section 5 below.
AUTOMATIC PORTION REINSURED. The Reinsurer shall automatically reinsure 20% of the excess above the Ceding Company's retention limit as shown below. Limited by Auto Acceptance Limits as shown below.
AUTOMATIC PORTION REINSURED. US/Canadian Residents AUSA will automatically reinsure an amount equal to 20% of the net amount at risk related to the face amount of insurance. The net amount of risk is determined as of the issue date and each subsequent policy anniversary and is defined as the death benefit minus the contract fund. Non US/Canadian Residents AUSA will automatically reinsure an amount equal to 10% of the net amount at risk related to the face amount of insurance.
AUTOMATIC PORTION REINSURED. US/Canadian Residents THE REINSURER will automatically reinsure an amount equal to 10% of the net amount at risk related to the face amount of insurance up to the First Layer of Coverage amounts shown in Schedule A, Section 4.B, below. The net amount of risk is determined as of the issue date and each subsequent policy anniversary and is defined as the death benefit minus the contract fund.
AUTOMATIC PORTION REINSURED. US/Canadian Residents SWISS RE will automatically reinsure an amount equal to 20% of the net amount at risk related to the face amount of insurance. The net amount of risk is determined as of the issue date and each subsequent policy anniversary and is defined as the death benefit minus the contract fund.
AUTOMATIC PORTION REINSURED. For Fully Underwritten Policies For US/Canadian and Non US/Canadian Residents THE REINSURER will automatically reinsure an amount equal to 26.67% of the net amount at risk corresponding to the face amount up to the First Layer of Coverage amounts shown in Schedule A, Section 5 below. For Simplified and Guaranteed Issue THE REINSURER will automatically reinsure an amount equal to 26.67% of the net amount at risk corresponding to the face amount.
AUTOMATIC PORTION REINSURED. US/Canadian Residents MUNICH will automatically reinsure an amount equal to 20% of the net amount at risk related to the face amount of insurance. The net amount of risk is determined as of the issue date and each subsequent policy anniversary and is defined as the death benefit minus the contract fund. Non US/Canadian Residents MUNICH will automatically reinsure an amount equal to 20% of the net amount at risk related to the face amount of insurance.
AUTOMATIC PORTION REINSURED. VUL II and VUL Protector PPVUL II