RECAPTURE OF REINSURANCE Sample Clauses

RECAPTURE OF REINSURANCE. In the event the Ceding Company increases its limits of retention, it may reduce all reinsurance effected under this Agreement by giving written notice to the Pool of its desire to initiate a recapture program, subject to the following restrictions:
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RECAPTURE OF REINSURANCE. Whenever the Ceding Company increases its maximum limits of retention over the Ceding Company’s Maximum Limits of Retention set forth in Exhibit 2, the Ceding Company has the option to recapture certain risk amounts. The Ceding Company may only recapture on a risk where it retained less than its quota share percentage set forth in Exhibit 1, at issue, because retaining its full quota share percentage at the time of issue would have exceeded the Ceding Company’s maximum limits of retention at the time of issue. The amount of reinsurance that may be recaptured shall equal the difference between the amount originally retained and the current normal maximum retention limit, but not to exceed the original quota share percentage, set forth in Exhibit 1, at the time of issue. Note: An increase in quota share will not effect recapture. The Reinsurer shall permit the Ceding Company to recapture all or part of such existing reinsurance cessions provided:
Sample 1
RECAPTURE OF REINSURANCE. An increase in the Ceding Company's Maximum Limits of Retention will not increase the amount that may be ceded on an automatic basis to the Reinsurer unless mutually agreed to by the parties. This provision does not prohibit the Ceding Company from reinsuring any portion of amounts it has retained on the Reinsured Business under catastrophic reinsurance programs or, risk pooling arrangements or financial or surplus relief type reinsurance transactions.
Sample 1
RECAPTURE OF REINSURANCE. A. Increases to Maximum Limits of Retention If the Ceding Company increases its Maximum Limits of Retention in accordance with Section 16 - Retention Limit Changes, the Ceding Company has the option to recapture risk amounts (the "Affected Business") as set out herein. [REDACTED]
Sample 1
RECAPTURE OF REINSURANCE. (a) The Reinsurer, or any of its affiliates to whom the Reinsurer has retroceded any of the Policies reinsured herein, shall permit the Company to recapture the Policies reinsured hereunder, at fair market value, based on procedures outlined in Schedule H, without any penalty, if the Reinsurer's risk-based capital ratio as defined in the National Association of Insurance Commissioners "Risk-Based Capital for Life and/or Health Insurers Model Act", falls below 150% of the "Company Action Level" at the end of any calendar quarter and remains below such level at the end of the next two calendar quarters. The recapture shall commence at the end of the calendar quarter during which 30 days notice is given to the Reinsurer by the Company of the Company's intent to recapture. The initial recapture shall relate to no more than 33 1/3% of the Policies reinsured in the hereunder, with the remainder of the recapture, in substantially equal amounts, to occur over a period not to exceed more than 36 months thereafter.
Sample 1
RECAPTURE OF REINSURANCE. 13 SECTION 25.
Sample 1
RECAPTURE OF REINSURANCE. Whenever the Ceding Company increases its maximum limits of retention over the Ceding Company's Maximum Limits of Retention set forth in Exhibit 2, the Ceding Company has the option to recapture certain risk amounts. If the Ceding Company has maintained its maximum stated retention (not a special retention limit) for the plan and the insured's issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force as follows: The Reinsurer shall permit the Ceding Company to recapture all or part of such existing reinsurance cessions provided:
Sample 1
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RECAPTURE OF REINSURANCE. (a) Once each calendar year, the Company shall have the option to recapture existing contracts reinsured hereunder. If the Company elects to recapture, recapture will occur subject to a mutually acceptable schedule determined at the time recapture is elected.
Sample 1
RECAPTURE OF REINSURANCE 
Sample 1

Related to RECAPTURE OF REINSURANCE

  • Other Reinsurance The Company shall be permitted to carry other reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

  • BASIS OF REINSURANCE Reinsurance under this Agreement will be on the Yearly Renewable Term basis on the portion of each policy that is reinsured as described in Schedule A.

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to the North American Re the portion of the initial risk amount in excess of its retention thereafter, the Ceding Company and the North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • Reinsurance The Contractor shall purchase reinsurance from a commercial reinsurer and shall establish reinsurance agreements meeting the requirements listed below. The Contractor shall submit new policies, renewals or amendments to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective.  Agreements and Coverage  The attachment point shall be equal to or less than $200,000 and shall apply to all services, unless otherwise approved by OMPP. The Contractor electing to establish commercial reinsurance agreements with an attachment point greater than $200,000 must provide a justification in its proposal or submit justification to OMPP in writing at least one hundred and twenty (120) calendar days prior to the policy renewal date or date of the proposed change. The Contractor must receive approval from OMPP before changing the attachment point.  The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).  Reinsurance agreements shall transfer risk from the Contractor to the reinsurer.  The reinsurer's payment to the Contractor shall depend on and vary directly with the amount and timing of claims settled under the reinsured contract. Contractual features that delay timely reimbursement are not acceptable.  The Contractor shall maintain a plan acceptable to the IDOI commissioner for continuation of benefits in the event of receivership. The Contractor must finance the greater of $1,000,000 or total projected costs as calculated by the form set forth in 760 IAC 1-70-8.  The Contractor shall obtain continuation of coverage insurance (insolvency insurance) to continue plan benefits for members until the end of the period for which premiums have been paid. This coverage shall extend to members in acute care hospitals or nursing facility settings when the Contractor’s insolvency occurs during the member’s inpatient stay. The Contractor shall continue to reimburse for its member’s care under those circumstances (i.e., inpatient stays) until the member is discharged from the acute care setting or nursing facility.  Requirements for Reinsurance Companies  The Contractor shall submit documentation that the reinsurer follows the National Association of Insurance Commissioners' (NAIC) Reinsurance Accounting Standards.  The Contractor shall be required to obtain reinsurance from insurance organizations that have Standard and Poor's claims- paying ability ratings of "AA" or higher and a Xxxxx’x bond rating of “A1” or higher, unless otherwise approved by OMPP.  Subcontractors  Subcontractors’ reinsurance coverage requirements must be clearly defined in the reinsurance agreement.  Subcontractors should be encouraged to obtain their own stop-loss coverage with the above-mentioned terms.  If subcontractors do not obtain reinsurance on their own, the Contractor is required to forward appropriate recoveries from stop- loss coverage to applicable subcontractors.

  • Payment of Reinsurance Premiums For automatic and facultative reinsurance, following the close of each calendar month, the Ceding Company will send the Reinsurer a statement and a listing of new business, changes and terminations. If a net reinsurance premium balance is payable to the Reinsurer, the Ceding Company will forward this balance within (60) sixty days after the close of each month. If a net reinsurance premium balance is payable to the Ceding Company, the balance due will be subtracted from the reinsurance premium payable by Ceding Company for the current month. The Reinsurer shall pay any remaining balance due the Ceding Company sixty days after the Ceding Company submits the statement.

  • Automatic Reinsurance For automatic reinsurance, the Reinsurer's liability will commence at the same time as the Ceding Company's liability, including liability under any conditional receipt or temporary insurance provision.

  • Tenant Insurance Landlord shall not be liable to Tenant, Xxxxxx’s family or Xxxxxx’s invitees, licensees, and/or guests for damages not proximately caused by Landlord or Landlord’s agents. Landlord will not compensate Tenant or anyone else for damages proximately caused by any other source whatsoever, or by Acts of God, and Tenant is therefore strongly encouraged to independently purchase insurance to protect Tenant, Xxxxxx’s family, Xxxxxx’s invitees, licensees, and/or guests, and all personal property on the leased premises and/or in any common areas from any and all damages.

  • Reinsurance Agreements In consideration of the premium stated herein, the Underwriter does hereby agree with the Named Insured to reinsure the Named Insured's insurance policies which provide coverage to the Assured, to the extent hereinafter set forth:

  • Landlord’s Insurance Tenant shall not cause or permit or suffer any action or condition that would (i) invalidate or conflict with Landlord’s insurance policies which contemplate a live entertainment use for the Music Hall, (ii) violate applicable rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any other authority having jurisdiction over the Center, (iii) cause an increase in the premiums for fire insurance then covering the Buildings over that payable with respect to comparable first-class office buildings or theaters, or (iv) result in insurance companies of good standing refusing to insure the Buildings or any property therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance premiums increase as a result of Tenant’s failure to comply with the provisions of this Article, Tenant shall promptly cure such failure and shall reimburse Landlord for the increased fire insurance premiums paid by Landlord as a result of such failure by Tenant, provided that Landlord shall furnish reasonable supporting documentation therefor. If it is not practicable for Tenant to cure such failure and continue to operate the Premises for the Permitted Uses and the only result of such failure is an increase in Landlord’s insurance premium, then provided Tenant pays such increased premium, Tenant shall not be required to cease such action so long as the increased premium is the only effect of such failure and, provided further, in the event that (A) Landlord’s insurance carrier refuses to provide certain insurance as a result of Tenant’s failure to comply with the provisions of this Article and (B) a separate insurance carrier of comparable rating or which is otherwise satisfactory to Landlord is willing to provide such insurance, Tenant shall pay any increased cost payable by Landlord by reason of its purchase of such insurance from such separate insurance carrier. In any action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for the Buildings or the Premises issued by the appropriate Fire Insurance Rating Organization, or other body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates then applicable to the Buildings.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below, or on a facultative basis, subject to the requirements set forth in Section B below, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

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