Reinsuring Clause Clause Samples

Reinsuring Clause. The Reinsurer shall be liable to pay 90% of the Ultimate Net Aggregate Losses together with all other obligations which arise out of the business which is covered by this Agreement.

Reinsuring Clause. A. The Reinsurer hereby agrees to pay the Reinsured 100% of the annual Net Underwriting Loss incurred on the subject portfolio underwritten by the Reinsured as business under the FAA (“Business”), in excess of the Net Premium Retained by the Reinsured.

Reinsuring Clause. Page 1 ARTICLE 3 Obligatory Agreement...................................................Page 2 ARTICLE 4 Definitions............................................................Page 2 ARTICLE 5 Consideration..........................................................Page 3 ARTICLE 6 Administration.........................................................Page 4 ARTICLE 7 Term...................................................................Page 5 ARTICLE 8 Reinsurance Follows Original Policies..................................Page 5

Reinsuring Clause. The amount owed the Company for any accounting period shall be the excess, if any, of Benefits less Reinsurance Premiums, and the amount owed the Reinsurer for any accounting period shall be the excess, if any, of Reinsurance Premiums over Benefits. If such amounts cannot be determined at such date on an exact basis, such payments may be determined on an estimated basis and any final adjustments are to be made within twenty (20) Business Days after the end of the Accounting Period.

Reinsuring Clause. The REINSURER agrees to indemnify the COMPANY in accordance with the terms and conditions of this AGREEMENT for liability which the COMPANY has become legally obligated to pay and which is covered under its policies, as hereinafter defined, categorized as Casualty Business and specifically classified in the COMPANY’s Annual Statement as:

Reinsuring Clause. A. The Reinsurer hereby agrees to pay the Reinsured, in cash, an amount equal to 100% of any losses paid by the Reinsured on the subject portfolio, upon presentation of supporting documentation by the Reinsured. The calculation of losses shall include all reasonable costs and adjustment expenses paid by the Reinsured arising from the handling of claims, other than the overhead (including, without limitation, salaries of employees and office expenses) of the Reinsured. B. The Reinsurer will have the option of authorising the Reinsured to deduct amounts due under the above Article 4A from premium funds due to the Reinsurer, but in any event, the Reinsurer agrees to fund the paid losses either by “offset” or direct payment as soon as supporting documentation is received. C. The Reinsured undertakes to provide up-dated paid loss information on a monthly basis, no later than 30 days after the end of each month.

Reinsuring Clause. A. Except as provided in paragraphs B and C below with respect to New York and New Jersey business, Reinsurer shall be liable to pay 100% of the Ultimate Net Aggregate Losses together with all other obligations which arise out of Reassured's Business, including, without limitation, all obligations relating to or arising out of any insolvency pool, guaranty fund, FAIR plan, wind pool, auto facility, hurricane catastrophe fund or other similar plan or fund. B. 1) Reassured will be responsible for, and Reinsurer will not assume, all New York assigned risk assessments and assignments generated by Reassured's Business written prior to January 1, 2003. Reinsurer will be responsible for and will assume all New York assigned risk assessments and assignments based on Reassured's Business written pursuant to Article 11 hereof on or after January 1, 2003.

Reinsuring Clause. 6 6 Reinstatement......................................... 6 7 Premium............................................... 7 8 Ultimate Net Loss..................................... 8 9

Reinsuring Clause. A. Subject to the terms and conditions of this Agreement, as of the Effective Time, the Ceding Company hereby cedes to the Reinsurer, and the Reinsurer hereby accepts and agrees to assume and reinsure one hundred percent (100%) of all Reinsured Liabilities under Policies issued, renewed, reinsured or assumed prior to the Effective Time, whether or not such Policies are still in force as of the Effective Time, excluding, for the avoidance of doubt. B. Pursuant to the Administrative Services Agreement, on and after the Closing Date, the Reinsurer, in its capacity as administrator under the Administrative Services Agreement, shall have responsibility for discharging and paying to or on behalf of the Ceding Company for the account of the party to whom they are owed, as and when due, the Reinsured Liabilities. C. The Reinsurer’s liability under this Agreement shall be subject in all respects to the same risks, terms, rates, conditions, interpretations, assessments, waivers, and to the same modifications, alterations and cancellations, as the respective Policies to which liability under this Agreement attaches, the true intent of this Agreement being that the Reinsurer shall, subject to the terms, conditions, and limits of this Agreement, follow the fortunes of the Ceding Company under the Policies, and the Reinsurer shall be bound, without limitation, by all payments and settlements under the Policies made or entered into by or on behalf of the Ceding Company. D. The Reinsurer accepts, reinsures and assumes, as applicable and to the extent set forth herein, the Reinsured Liabilities subject to any and all defenses, setoffs and counterclaims to which the Ceding Company would be entitled with respect to the Reinsured Liabilities, it being expressly understood and agreed by the Parties that no such defenses, setoffs or counterclaims are or shall be waived by the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby and that the Reinsurer is and shall be fully subrogated in and to all such defenses, setoffs and counterclaims.