GENERAL REINSURANCE CORPORATION. The decision of the majority of the arbitrators shall be in writing and shall be final and binding upon the parties. Each party shall bear the cost of its own arbitrator and shall jointly and equally bear with the other party the expense of the third arbitrator and other costs of the arbitration. In the event both arbitrators are chosen by one party, the fees of all arbitrators shall be equally divided between the parties. The arbitration shall be held at the times and places agreed upon by the arbitrators.
GENERAL REINSURANCE CORPORATION. The Reinsurer shall be given written notice of the pendency of each claim against the Company on the policy(ies) reinsured hereunder within a reasonable time after such claim is filed in the insolvency proceedings. The Reinsurer shall have the right to investigate each such claim and to interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defenses which it may deem available to the Company or its liquidator. The expense thus incurred by the Reinsurer shall be chargeable, subject to court approval, against the insolvent Company as part of the expense of liquidation to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer.
GENERAL REINSURANCE CORPORATION. Promptly upon receipt of a definitive statement of Net Loss and Adjustment Expense from the Company, but within no more than 25 days after receipt of such statement, the Reinsurer shall pay to the Company the Reinsurer’s portion of Net Loss and the Reinsurer’s portion of Adjustment Expense, if any. The Company shall report to the Reinsurer any subsequent changes in the amount of Net Loss and/or Adjustment Expense, and the amount due either party shall be remitted promptly, but within no more than 25 days after receipt of such report.
GENERAL REINSURANCE CORPORATION. Company, its affiliates or subsidiaries, may not be obligated by law to pay a claim to itself, its affiliates or subsidiaries;
GENERAL REINSURANCE CORPORATION. Upon termination of this Agreement, the Reinsurer shall render to the Company a statement of contingent commission for the period from the effective date of this Agreement until such date. The amount thereof shall be balanced against the amount of contingent commission previously paid or allowed, and the net balance due either party shall be remitted promptly. Annually thereafter, revised statements shall be rendered to the Company reflecting changes in the original statement until all losses which occurred during the term of this Agreement are fully discharged, and the net balance due either party because of such changes shall be remitted promptly.
GENERAL REINSURANCE CORPORATION. (i) The Reinsurer's portion of reserves for claims and losses at the end of the quarter by line of insurance and year of claim or loss, and
GENERAL REINSURANCE CORPORATION loss or damage is excluded regardless of (i) any other cause or event contributing to such loss or damage in any way or at any time, or (ii) whether such loss or damage is accidental or intentional.
GENERAL REINSURANCE CORPORATION. (h) Insurance against earthquake, except when written in conjunction with fire and otherwise eligible perils;
GENERAL REINSURANCE CORPORATION. (s) Loss of, damage to, or failure of, or consequential loss resulting therewith (including but not limited to earnings and extra expense) of satellites, spacecraft, and launch vehicles, including cargo and freight carried therein, in all phases of operation (including but not limited to manufacturing, transit, pre-launch, launch, and in-orbit);
GENERAL REINSURANCE CORPORATION. The Company shall furnish to the Reinsurer, upon request, the following information with respect to each catastrophe set forth in the Catastrophe Bulletins published by the Property Claim Services:
