COINSURANCE BASIS Sample Clauses

COINSURANCE BASIS. This Agreement, including the attached Schedules, states the terms and conditions of automatic and facultative reinsurance which will be on a coinsurance basis. This Agreement is applicable only to reinsurance of policies directly written by the Ceding Company. Any policies acquired through merger with another company, reinsurance, or purchase of another company’s policies are not included under the terms of this Agreement.
Sample 1
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COINSURANCE BASIS. Savers and World acknowledge and agree that the reinsurance provided herein is on a 100% coinsurance basis. World agrees to assume, carry out and perform all of the duties, obligations and liabilities under the Coinsured Policies, subject, however, to the same rights, offsets, counter-claims, cross-actions and defenses that are or may be possessed by Savers, the Ceding Company. It is expressly understood that no such offsets, counter-claims, cross-actions or defenses are or shall be waived, but that the same are expressly preserved and that World shall be duly subrogated thereto, whether the same be known to exist or are hereafter discovered. 2.6.
Sample 1

Related to COINSURANCE BASIS

  • Coinsurance After the deductible is satisfied, seventy percent (70%) coverage up to the plan out-of-pocket maximum designated below.

  • Insurance, Loss Deductible The Customer shall be exempt from, and in no way liable for, any sums of money which may represent a deductible in any insurance policy. The payment of such deductible shall be the sole responsibility of the Contractor providing such insurance. Upon request, the Contractor shall furnish the Customer an insurance certificate proving appropriate coverage is in full force and effect.

  • Insurance Costs (08/19) Contractor shall be financially responsible for all premiums, deductibles, self-insured retentions, and self-insurance.

  • REINSURANCE PREMIUM A. As premium for each excess layer of reinsurance coverage provided by this Contract, the Company shall pay the Reinsurer the greater of the following:

  • PREMIUM TAX The Reinsurer will not reimburse the Ceding Company for premium taxes.

  • Reinsurance Premiums A. Computation Reinsurance Premiums under this Agreement shall be calculated as described in Exhibit I.

  • Duration of Insurance Contribution An employee is eligible for School District contributions as provided in this Article as long as an employee is employed by the School District. Employees whose employment terminates during the school year will be eligible for insurance and district contributions to insurance through the end of the month in which they terminate provided they pay the employee portion of the insurance premium for that month. Otherwise, the employee’s insurance will terminate as of the last day of employment.

  • 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.

  • Insurance Carriers All PSP’s insurance shall be issued by insurance carriers authorized to do business in Texas at the time the policy is issued (and at all times during the term of this Agreement) and rated by A.M. Best Company as A-VII or better, confirmed by one or more insurance certificates conforming to the following requirements:

  • 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.

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