Overpayment of Premium. If the Ceding Company overpays a reinsurance premium and the Reinsurer accepts the overpayment, the Reinsurer's acceptance will not constitute nor create a reinsurance liability nor result in any additional reinsurance. Instead, the Reinsurer will be liable to the Ceding Company for a credit in the amount of the overpayment.
Appears in 15 contracts
Samples: Reinsurance Agreement Effective December (Hartford Life & Annuity Ins Co Separate Acount Vlii), Reinsurance Agreement (Separate Account Vl I of Hartford Life Insurance Co), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Hartford Life & Annuity Ins Co Separate Acount Vlii)
Overpayment of Premium. If the Ceding Company overpays a reinsurance premium and the Reinsurer accepts the overpayment, the Reinsurer's acceptance will not constitute nor create a reinsurance liability nor result in any additional reinsurance. Instead, the Reinsurer will be liable to the Ceding Company for a credit in the amount of the overpaymentoverpayment without interest.
Appears in 2 contracts
Samples: Reinsurance Agreement (Separate Account Vl I of Hartford Life Insurance Co), Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I)
Overpayment of Premium. If the Ifthe Ceding Company overpays a reinsurance premium and the Reinsurer accepts the overpayment, the Reinsurer's acceptance will not constitute nor create a reinsurance liability nor result in any additional reinsurance. Instead, the Reinsurer will be liable to the Ceding Company for a credit in the amount of the overpayment.
Appears in 1 contract
Samples: Reinsurance Agreement (Separate Account Vl I of Hartford Life Insurance Co)
