Reinsurance Availability. The Administrator’s authority under this Agreement is subject to the Company’s ability, on behalf of itself and its affiliates, to obtain and maintain in force at all times satisfactory reinsurance protection on reasonable terms and conditions. If the Company, acting reasonably, determines that it is not able to obtain and/or maintain satisfactory reinsurance protection on reasonable terms and conditions for the business authorized hereunder, Palomar may immediately suspend the authority of the Administrator as it relates to the business authorized under this Agreement. Such a suspension shall take effect immediately and shall remain in effect until further notice.
Appears in 2 contracts
Sources: Program Administrator Agreement (Palomar Holdings, Inc.), Program Administrator Agreement (GC Palomar Holdings)