LIMITS OF COVER. A.1. As respects policies in force during the term of this Agreement, the Company shall retain for its own account and pay under one or more of the Company's policies the first $2,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $2,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $3,000,000 resulting from each and every loss.
LIMITS OF COVER. A. With respect to business classified as Directors and Officers Liability: The liability of the Reinsurer shall not exceed $4,000,000 per policy in the aggregate and/or coverage part (i.e., 80% of $5,000,000).
LIMITS OF COVER. A. 1. As respects policies in force during the term of this Agreement, the Company shall retain for its own account and pay under one or more of the Company's policies the first $5,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $5,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $5,000,000 resulting from each and every loss as respects Physicians and Surgeons Comprehensive Professional and Business Liability policies, including Clinics and Clinical Laboratories, Errors and Omissions Liability policies for Managed Care Organizations and/or Directors and Officers Liability and/or Professional and Business Liability policies for hospitals and/or Extra Contractual Obligation losses and losses in Excess of Original Policy Limits only, resulting from the Company's net retained liability from the Texas Physicians and Surgeons Professional Liability Program underwritten by Xxx & Xxxxx, Inc., arising from any one incident.
LIMITS OF COVER. A. As respects one or more than one of the classes under Property Classes of Insurance as stated in Section 1, the Reinsurer shall not be liable for any loss until the Company's ultimate net loss for each and every risk exceeds $300,000 and then the Reinsurer shall be liable for the amount of the Company' s ultimate net loss for each and every risk in excess of $300,000 but the Reinsurer's liability shall not exceed 100% of $1,700,000 for each and every risk or exceed $3,000,000 in any one occurrence.
LIMITS OF COVER. A. As respects policies issued by the Company, the Company shall cede to the Reinsurer and the Reinsurer shall accept from the Company a 20% quota share participation of the Company's net retained insurance liability, subject to the limitation set forth in paragraph B., below.
LIMITS OF COVER. As respects the class of business as stated in Section 1, the Reinsurer shall not be liable for any loss until the Company's ultimate net loss in each occurrence exceeds $1,000,000 and then the Reinsurer shall be liable for the amount of the Company' s ultimate net loss in each occurrence in excess of $1,000,000 but the Reinsurer's liability shall not exceed 100% of $1,000,000 in any one occurrence or $3,000,000 in any one Agreement Year.
LIMITS OF COVER. 3.1. The Reinsurer shall reimburse the Ceding Company for the amount of the Ceding Company’s losses, including loss adjustment expenses, incurred in each calendar year which amount is in the aggregate excess of $100,000,000. However, the liability of the Reinsurer shall not exceed, (i) for 2004, at any time of determination, twenty percent (20%) of the Ceding Company’s net retention (as defined above) with respect to the aggregate insured principal sum outstanding as of such time plus the insured principal sum outstanding under the Ceding Company’s two largest policies outstanding as of such time and (ii) in any subsequent one calendar year, twenty percent (20%) of the Ceding Company’s net retention (as defined above) with respect to the aggregate insured principal sum outstanding as of 11:59 p.m., Greenwich Mean Time in the United Kingdom, on December 31 of the prior year plus the insured principal sum outstanding under the Ceding Company’s two largest policies in effect as of 11:59 p.m., Greenwich Wan Time in the United Kingdom, on December 31 of the prior year.
LIMITS OF COVER. A. 1. The Company shall retain for its own account and pay under one or more of the Company's policies the first $1,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $1,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $1,000,000 resulting from each and every loss as respects Physicians and Surgeons Comprehensive Professional and Business Liability policies, including Clinics and Clinical Laboratories, Errors and Omissions Liability policies for Managed Care Organizations and/or Directors and Officers Liability arising from any one
LIMITS OF COVER. A. The reinsurance provided hereunder is in two sections as follows:
LIMITS OF COVER. 3.1. The Reinsurer shall reimburse the Ceding Company for the amount of the Ceding Company’s losses, including loss adjustment expenses, incurred in each calendar year which amount is in the aggregate excess of an amount equal to the greater of: (1) $500,000; or (2) 40% of the Ceding Company’s net earned premium income for that same calendar year. However, the liability of the Reinsurer shall not exceed, in any one calendar year, the Ceding Company’s net retention (as defined above) with respect to the principal outstanding plus interest insured under the Ceding Company’s largest policy in effect as of 11:59 p.m. on December 31 of the prior year.
