Policy Changes Sample Clauses

Policy Changes. The Cedent must provide written notification to the Reinsurer of any program to change the original terms or conditions of the Policies which would result in an increase in liabilities of more than two percent (2%) of all Policies not later than fifteen (15) days after the change takes effect. The Reinsurer shall provide written notification to the Cedent of the Reinsurer's acceptance or rejection of the change within fifteen (15) days after receipt of notice of the change. If the Reinsurer accepts any such change then it shall (a) assume that portion of any increase in the Cedent's liability, resulting from the change, that corresponds to the reinsured portion of the Policies, and (b) receive credit for that portion of any decrease in the Cedent's liability, resulting from the change, that corresponds to the reinsured portion of the Policies. If the Reinsurer rejects any such change then its liabilities shall be determined as though no such change had occurred.

Policy Changes. RATE INCREASES If any change is made in a Policy by the Company that affects reinsurance hereunder, the Administrator shall immediately deliver written notice thereof to the Reinsurer. Except for Policy changes required by state or federal law or regulation any proposed change shall not be effective until approved in writing by the Reinsurer. From and after the Effective Date, each of the Administrator and the Company, shall, or shall cause its duly appointed actuary or representative to, timely file with all applicable regulatory authorities a request for rate increases with respect to the Policies reinsured under this agreement. Such rate increase filings shall be made (i) within fifteen (15) days after the date on which such rate increase filings are requested in writing by the Reinsurer to the Administrator, and (ii) in the amounts requested by the Reinsurer up to amounts permitted by applicable law based upon all relevant factors, including without limitation, loss experience for the Policies. The costs of calculating the rate increase amount, if calculated by an outside actuary or other qualified outside representative of he Administrator, shall be borne by the Reinsurer in proportion to its share of liability hereunder. The Administrator, on behalf of the Company, agrees to deliver to the Reinsurer within forty-five (45) days after the end of each calendar quarter a written report showing: 1. The loss experience on the Policies reinsured under this Agreement for the preceding quarter; and 2. The dates on which increase filings were actually made for Policies reinsured under this Agreement for the preceding quarter if any; and 3. The amounts of the rate increases which were filed and the amounts which were approved for Policies reinsured under this Agreement; and 4. Whether approval of the rate increase filings have been obtained, and 5. Any other information reasonably requested by the Reinsurer relating to the Policies reinsured under this Agreement. It is acknowledged and agreed that the making of timely rate increase filings as requested by the Reinsurer under this Agreement is a material inducement to the Reinsurer agreeing to enter into this Agreement and that absent the assurance that such filings will be made and the Reinsurer's reliance on such assurance, the Reinsurer would not have entered into this Agreement. Accordingly, the parties hereto agree that the failure or refusal by the Administrator or the Company to comply strictly with the m...

Policy Changes. The termination shall become effective on the date specified in the written notice, but not less than after written notice is given.

Policy Changes. 9 a. NOTICE...............................................................9 b. INCREASES............................................................9 c.

Policy Changes. A. The Ceding Company shall notify the Reinsurer of all policy terminations and changes that affect the reinsurance. Unearned reinsurance premiums on such terminations or changes shall be refunded. B. If any portion of the Ceding Company’s insurance risk is terminated, the reinsurance shall be reduced by a proportionate amount. If there are other reinsurers, each one shall share in the reduction according to its proportion of the total reinsurance. C. If a policy reinsured under this Agreement lapses to extended term or paid-up insurance, the Reinsurer shall share in an adjustment in the amount of reinsurance on the policy in the same proportion as the reinsurance amount had to the insurance amount immediately prior to the policy lapsing. D. If a portion of the insurance issued by the Ceding Company on a life reinsured hereunder is terminated, reinsurance on that life hereunder shall be reduced so as to restore, as far as possible, the retention level of the reinsured on the risk, provided, however, that the reinsured shall not assume on any policy being adjusted as provided in this Article an amount of insurance in excess of the greater of (1) its retention limit at the time of issue of that policy, and (2) the retention limit of that policy as already adjusted by the provisions of Article X –

Policy Changes. If the plan, the amount of reinsurance, or the premiums of a Reinsured Policy are changed, the Company will promptly inform the Reinsurer. Whenever a Reinsured Policy is changed and the Company's underwriting rules do not require that full evidence be obtained, the reinsurance will remain in effect with the Reinsurer. The suicide, contestability and recapture periods applicable to the original Reinsured Policy will apply to the reissued Reinsured Policy and the duration will be measured from the effective date of the original Reinsured Policy. Whenever a Reinsured Policy is changed and the Company's underwriting rules require that full evidence be obtained, the change will be subject to the Reinsurer's approval, if: 7.2.1 The new amount of the Reinsured Policy would be in excess of the Automatic Acceptance Limit, in effect at the time of the change, as set out in Exhibit E; or 7.2.2 The new amount of the policy and the amount already in force on the same life exceeds the Inforce Limit stated in Exhibit E; or 7.2.3 The Reinsured Policy is submitted for facultative excess of Company's automatic binding capacity. The amount of any non-contractual increase will be subject to the terms stated in Exhibit C. For changes not covered under this Agreement, which affect the terms of any Reinsured Policy, the Company must obtain the Reinsurer's approval before such changes become effective.

Policy Changes. (a) The Ceding Company shall not, without the prior written consent of the Reinsurer, terminate, amend, modify or waive any provision or provisions of the Reinsured Policies, except to the extent required by applicable Law or the express terms of the Reinsured Policies. (b) Any such terminations, amendments, modifications or waivers made without the prior written consent of the Reinsurer shall be disregarded for purposes of this Agreement, and the reinsurance with respect to the affected Reinsured Policy will continue as if such termination, amendment, modification or waiver had not been made.

Policy Changes. Copies of all changes in school board, school district and school rules and policies will be posted on the District website and sent to all bargaining unit employees at the time of Board approval.

Policy Changes. Neither the Company nor the Reinsurer shall make any changes to the Company’s policy forms except with the express written consent of the other party (which consent shall not be unreasonably withheld) or if (a) the changes are required by Applicable Law and (b) the Reinsurer gives the Company prior notice in writing of the nature of such required changes in the manner provided by the NY Administrative Services Agreement.