Common use of Reinsuring Clause Clause in Contracts

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. 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 forresponsible, and Reinsurer will not assume, for 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.