Risk Classification Changes. If a policyholder requests a Table Rating reduction or removal of a Flat Extra, such change will be underwritten according to the Ceding Company's Underwriting Guidelines as set forth in Exhibit I. Risk classification changes on facultative policies will be subject to the Reinsurer's approval.
Risk Classification Changes. If the policyholder requests a table rating reduction, removal of a flat extra, or change in smoking status, such change will be underwritten according to the Ceding Company's normal underwriting practices. For purposes of reinsurance, the original age and duration of the policy will be used to calculate reinsurance premiums, but the underwriting class will be changed if approved by the Ceding Company on a prospective basis from the date of improvement in risk classification. Risk classification changes on facultative policies will be subject to the Reinsurer's approval.
Risk Classification Changes. If the policyholder requests a substandard table rating reduction or removal of a Flat Extra, such change will be underwritten in accordance with the underwriting guidelines, practices, and procedures for risk selection conveyed to the Reinsurer prior to or at the time of pricing, or any Material Changes consented to in writing by the Reinsurer, which are still in use on the coverage commencement date. Such changes on Facultative policies will be subject to the Reinsurer's approval.
Risk Classification Changes. If the policyholder requests a table rating reduction, removal of a flat extra, or change in smoking status, such change will be underwritten according to the Ceding Company's normal underwriting practices. Risk classification changes on facultative policies will be subject to the Reinsurer's approval.
Risk Classification Changes. For automatic Risks, the Ceding Company may reduce the rating classification or change the tobacco classification in accordance with the Ceding Company underwriting guidelines. The Ceding Company will notify the Reinsurer of this change. For Facultative Risks, the Ceding Company will submit the rating classified changes and tobacco class changes under the Facultative provisions in Article 3.
Risk Classification Changes. If the policyholder requests a substandard table rating reduction or removal of a flat extra, such change will be underwritten by the us in accordance with our standard underwriting guidelines, practices, and procedures for risk selection, as communicated to you at the time of pricing, as well as any subsequent material changes to these guidelines, practices, and procedures that have been consented to in writing by you.
Risk Classification Changes. If the insured requests a table rating reduction, removal of a flat extra premium charge, or other risk classification change, such change shall be underwritten according to the Company’s normal underwriting practices. Risk classification changes on facultative Policies shall be subject to the Reinsurer’s or facultative underwriting Designee’s approval. Any reinsurance coverage shall be adjusted accordingly.
Risk Classification Changes. If the Policy Owner requests a change in risk classification, such as a table rating reduction or removal of a flat extra, the Ceding Company shall underwrite such change in accordance with its Underwriting Guidelines. Risk classification changes on Policies reinsured on a facultative basis will be subject to the Reinsurer’s prior written approval. Upon a change of risk classification, the Ceding Company shall determine the reinsurance premium for the Policy using [ ] at the revised underwriting classification. The Reinsurer shall refund unearned reinsurance premium paid by the Ceding Company upon the change of risk classification in accordance with Article 7 – Premium Accounting.
Risk Classification Changes. If a Policy was initially ceded to the Reinsurer on an automatic basis and if, following the consideration of new underwriting evidence, the Company makes a change to the risk classification in accordance with its underwriting guidelines, the same change will be made to the reinsurance coverage. If such change is being made on a facultatively reinsured policy, the change is subject to the Reinsurer's approval. If following the consideration of new underwriting evidence, the Company can place the Policy at a lower mortality rating or better underwriting class than that of the Reinsurer, then the Company will have the right to terminate the reinsurance. However, the Company will provide the Reinsurer an opportunity to quote anew and will use best efforts to maintain the existing reinsurance. Any such change affecting the reinsurance will be on a point-in-scale basis at the revised risk classification and effective with the date of the change. The Reinsurer will refund any unearned reinsurance premiums, net of reinsurance allowances, paid by the Company prior to the change of mortality rating or underwriting class as calculated on the date of the policy change.
Risk Classification Changes. If the policyholder requests a table rating reduction, removal of a flat extra or other risk classification change, the Ceding Company shall underwrite such change in compliance with its Underwriting Guidelines. Risk classification changes on facultative Policies will be subject to Munich Re, U.S. (Life)’s prior written approval. Any reinsurance coverage shall be adjusted accordingly.
