Method of Recapture. If we omit or overlook the recapture of any eligible policy or policies, your acceptance of reinsurance premiums after the date the recapture would have taken place will not cause you to be liable for the amount of the risk that would have been recaptured. You will be liable only to refund any such reinsurance premiums received, without interest. Quota share percentage increases due to our purchase by or purchase of another company, or our merger, assumption or any other affiliation with another company shall not be recognized for recapturing purposes under this article for a period of no less than five years from the effective date of such merger or acquisition.
Appears in 2 contracts
Sources: Automatic Coinsurance Agreement (Nassau Life Variable Universal Life Account), Automatic Coinsurance Agreement (PHL Variable Accumulation Account)