Common use of Follow the Fortunes Clause in Contracts

Follow the Fortunes. The Reinsurer's liability shall attach simultaneously with that of the Reassured and shall be subject in all respects to the same risks, terms, conditions, interpretations, and cancellations as the respective insurances (or reinsurances) of the Reassured, the true intent of this Contract being that the Reinsurer shall, subject to the terms, conditions, and limits of this Contract and the policies subject to this Contract follow the underwriting fortunes of the Reassured. Nothing shall in any manner create any obligations or establish any rights against the Reinsurer in favor of any third parties or any persons not parties to this Contract.

Follow the Fortunes. The Reinsurer's liability shall attach simultaneously with that of the Reassured and shall be subject in all respects to the same risks, terms, conditions, interpretations, and cancellations as the respective insurances (or reinsurances) original policies and contracts of insurance of the Reassured, the true intent of this Contract being that the Reinsurer shall, subject to the terms, conditions, and limits of this Contract and the policies subject to this Contract follow the underwriting fortunes of the Reassured. Nothing shall in any manner create any obligations or establish any rights against the Reinsurer in favor of any third parties or any persons not parties to this Contract, except as provided for in Article, INSOLVENCY OF THE REASSURED.