Retention and Limit. The Reinsurer will accept a fixed proportion of up to 50% of the Company's loss on the first $1,250,000 on behalf of the Company under each and every Policy subject to this Exhibit, as follows:
Retention and Limit. The Company shall cede to the Reinsurer and the Reinsurer agrees to accept 100% of the Company's liability arising out of directly or indirectly, in whole or in part or in connection with the Policy.
Retention and Limit. A. As respects each excess layer of reinsurance coverage provided by this Contract, the Company shall retain and be liable for the first amount of ultimate net loss, shown as "Company's Retention" for that excess layer in Schedule A attached hereto, arising out of each loss occurrence. The Reinsurer shall then be liable, as respects each excess layer, for the amount by which such ultimate net loss exceeds the Company's applicable retention, but the liability of the Reinsurer under each excess layer shall not exceed the amount, shown as "Reinsurer's Per Occurrence Limit" for that excess layer in Schedule A attached hereto, as respects any one loss occurrence.
B. No claim shall be made under any excess layer of reinsurance coverage provided by this Contract as respects any one loss occurrence unless at least two risks insured or reinsured by the Company are involved in such loss occurrence. For purposes of this Contract, the Company shall be the sole judge of what constitutes one risk.
Retention and Limit. A. As respects all losses subject hereto, except losses arising out of an occurrence of an act of terrorism, as respects each excess layer of reinsurance coverage provided by this Contract, the Company shall retain and be liable for the first amount of ultimate net loss (whether involving any one or any combination of the classes of business covered hereunder, regardless of the number of policies under which such loss is payable or the number of different interests insured), shown as “Company’s Retention” for that excess layer in Schedule A attached hereto, arising out of each occurrence. The Reinsurer shall then be liable, as respects each excess layer, for the amount by which such ultimate net loss exceeds the Company’s retention, but the liability of the Reinsurer shall not exceed the amount, shown as “Reinsurer’s Per Occurrence Limit” for that excess layer in Schedule A attached hereto, as respects any one occurrence.
B. As respects losses arising out of an occurrence of an act of terrorism, as respects each excess layer of reinsurance coverage provided hereunder, the Company shall retain and be liable for the first amount of ultimate net loss, shown as “Company’s Retention” for that excess layer in Schedule A attached hereto, arising out of each occurrence. The Reinsurer shall then be liable, as respects each excess layer, for the amount by which such ultimate net loss exceeds the Company’s retention, but the liability of the Reinsurer shall not exceed the amount shown as “Reinsurer’s Terrorism Per Occurrence Limit” for that excess layer in Schedule A attached hereto as respects any one occurrence of an act of terrorism, nor shall it exceed the amount shown as “Reinsurer’s Contract Year Terrorism Limit” for that excess layer in Schedule A attached hereto as respects loss or losses arising out of all occurrences of acts of terrorism during any one contract year.
C. The Company deems that the maximum Employers Liability policy limits subject hereto shall not exceed $2,000,000. Policy limits in excess of $2,000,000 may be submitted by special acceptance to the Reinsurer for coverage hereunder, subject to the provisions of paragraph C of the Exclusions Article.
Retention and Limit. A. The Company shall retain and be liable for the first $124,300,000 of ultimate net loss arising out of each loss occurrence. The Reinsurer shall then be liable for the amount by which such ultimate net loss exceeds the Company's retention, but the liability of the Reinsurer shall not exceed $25,000,000 as respects any one loss occurrence.
B. Notwithstanding the provisions above, no claim shall be made hereunder as respects losses arising out of loss occurrences commencing during the term of this Contract unless at least two risks insured or reinsured by the Company are involved in such loss occurrence. For purposes hereof, the Company shall be the sole judge of what constitutes "one risk."
Retention and Limit. A. The Company shall retain and be liable for the first $20,500,000 of ultimate net loss arising out of each loss occurrence. The Reinsurer shall then be liable, as respects each excess layer, for the amount by which such ultimate net loss exceeds the Company's retention, but the liability of the Reinsurer under each excess layer shall not exceed the amount, shown as "Reinsurer's Per Occurrence Limit" for that excess layer in Schedule A attached hereto, as respects any one loss occurrence. Whether a loss occurrence results in an ultimate net loss under one or more of the excess layers set forth in Schedule A attached hereto, the Company's retention will not exceed the first $20,500,000 of ultimate net loss arising out of such loss occurrence.
B. Recoveries shall always be made, in the first instance, under the lowest excess layer that is not entirely exhausted. If there is any amount of ultimate net loss arising out of a loss occurrence in excess of the Company's retention under the lowest excess layer that has not been recovered thereunder, such amount shall be recovered under the next or subsequent excess layer or layers, as appropriate. Recoveries under each excess layer set forth in Schedule A attached to and forming part of this Contract shall inure as follows:
1. Recoveries under the First Excess layer shall inure to the benefit of the Second Excess layer;
2. Recoveries under the First and Second Excess layers shall inure to the benefit of the Third Excess layer; and
3. Recoveries under the First, Second and Third Excess layers shall inure to the benefit of the Fourth Excess layer.
4. Recoveries under the First, Second, Third and Fourth Excess layers shall inure to the benefit of the Fifth Excess layer. It is understood, however, that any fully exhausted excess layer or the exhausted portion of any excess layer shall no longer inure to the benefit of any subsequent excess layer(s).
C. Notwithstanding the provisions above, no claim shall be made hereunder as respects losses arising out of loss occurrences commencing during the term of this Contract unless at least two risks insured or reinsured by the Company are involved in such loss occurrence. For purposes hereof, the Company shall be the sole judge of what constitutes "one risk."
Retention and Limit. All catastrophe losses will qualify as losses towards the retention. No claim shall be made in any one loss occurrence unless at least two risks insured or reinsured by the Company are involved in such loss occurrence. For purposes hereof, the Company shall be the sole judge of what constitutes one risk. The Subscribing Reinsurer shall be liable in each and every Loss Occurrence, for the Ultimate Net Loss above an initial net loss to the Company of $75,000,000 provided, however, that the Subscribing Reinsurer shall not be liable for more than $25,000,000 of each and every such Loss Occurrence, nor more that $50,000,000 in the aggregate during the term of this Contract.
Retention and Limit. The REINSURER shall pay to the COMPANY the amount of ultimate net loss sustained by the COMPANY in excess of the COMPANY’s retention of $200,000 each occurrence, but the REINSURER’s limit of liability shall not exceed $300,000 each occurrence.
Retention and Limit. The Reinsurer will accept a fixed proportion of [up to 50%] of the Company's loss on the first $1,000,000 on behalf of the Company under each and every Policy subject to this Agreement, as follows: [1/1/05 to 12/31/11 10% (except for (1) MUST I business which proportion shall be 15% effective 1/1/09 to 12/31/11, and (2) business produced by Companion Life Insurance Company which proportion shall be 5% effective 1/1/06 to 12/30/11)].
Retention and Limit. A. The Company shall retain and be liable for the first $150,000,000 of ultimate net loss arising out of each loss occurrence. The Reinsurer shall then be liable for the amount by which such ultimate net loss exceeds the Company's retention, but the liability of the Reinsurer shall not exceed $25,000,000 as respects any one loss occurrence.
B. No claim shall be made hereunder in any one loss occurrence unless at least two risks insured by the Company are involved in such loss occurrence. For the purposes of this Contract, the Company shall be the sole judge of what constitutes "one risk."
