Share Reinsurance Sample Clauses

Share Reinsurance. Subject to the terms and conditions of this Agreement, the Company hereby cedes to the Reinsurer, and the Reinsurer hereby accepts and reinsures, the Quota Share of the Losses; provided, however, that, notwithstanding anything in this Agreement to the contrary, any payment by the Reinsurer in respect of a Covered Policy under the Second-to-Pay Policy shall, to the extent of such payment, discharge the Reinsurer from its related payment obligation to the Company under this Agreement in respect of the Covered Policy. For the avoidance of doubt, (i) the Reinsurer assumes the risk that reinsurance under the Third-Party Reinsurance Agreements is not collected and (ii) the Reinsurer shall not be required to pay or reimburse the Company for Losses paid prior to the Effective Date. As soon as practicable following the Closing Date, the parties shall settle any amount due each other under the terms of this Agreement for the period between the Effective Date and the Closing Date.
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Share Reinsurance. Unless otherwise specially agreed, it is understood that, in the event the COMPANY cedes reinsurance on a quota share or portfolio basis, the provisions of this Reinsurance Contract shall apply as if such reinsurance had not been effected.
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Share Reinsurance. The text of the first paragraph of Article V is removed and replaced by the following: ALL SINGLE LIFE INSURANCE CONTRACTS THAT ARE NOT REINSURED ON AN AUTOMATIC QUOTA SHARE BASIS BY NLV WITH THIRD PARTY REINSURERS WILL BE SUBJECT TO A TERM REINSURANCE ARRANGEMENT WHEREBY NLV WILL CEDE ITS ONE-HALF OF THE MORTALITY RISK TO . ALL PREMIUMS UNDER THIS TERM REINSURANCE ARRANGEMENT WILL BE DUE AT THE END OF EACH CALENDAR MONTH BASED ON THE ACTIVITY DURING THE MONTH. CRITERIA FOR INCLUSION IN THE THIRD PARTY AUTOMATIC QUOTA SHARE REINSURANCE PROGRAM: o STANDARD RATING o AGES 0-75: MAXIMUM OF $15,000,000 PER LIFE o AGES 76-80: MAXIMUM OF $5,000,000 PER LIFE THE TEXT OF ARTICLE VI IS REMOVED AND REPLACED BY THE FOLLOWING: DEATH CLAIMS FOR EACH CLAIM FOR DEATH BENEFITS UNDER THE LIFE INSURANCE CONTRACTS, SHALL PAY NLV THE SUM OF (1) DEATH BENEFITS PURSUANT TO THE MODIFIED COINSURANCE ARRANGEMENT AND (2) DEATH BENEFITS PURSUANT TO THE TERM REINSURANCE ARRANGEMENT, CALCULATED ACCORDING TO THE FOLLOWING:
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Share Reinsurance. Subject to the terms and conditions of this Agreement, Southern Mutual hereby cedes to Donegal Mutual, and Donegal Mutual hereby accepts and reinsures from Southern Mutual, the Quota Share of any Losses, including loss development on all Covered Policies issued prior to the Effective Date, under the Covered Policies. Such Losses and all other liabilities of Southern Mutual with respect to the Covered Policies are sometimes collectively referred to in this Agreement as the “Reinsured Liabilities.” Such cession by Southern Mutual and acceptance and reinsurance by Donegal Mutual shall, in the sole discretion of Donegal Mutual, be gross or net of any losses covered by the Third-
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Share Reinsurance. Subject to the terms and conditions of this Agreement:
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Share Reinsurance. The Reinsured shall, subject to the terms, conditions and exclusions of this Agreement, cede, and the Reinsurer hereby agrees to accept as reinsurance, a pro rata share in the percentage set forth on Exhibit A hereto (the "Quota Share Percentage") of the Reinsured's Policies (defined below) that incept and/or are renewed during the Term hereof and which fall within the definition of Business Reinsured.
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Related to Share Reinsurance

  • Other Reinsurance The Company shall be permitted to carry other reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

  • Reinsurance The Contractor shall purchase reinsurance from a commercial reinsurer and shall establish reinsurance agreements meeting the requirements listed below. The Contractor shall submit new policies, renewals or amendments to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective.  Agreements and Coverage  The attachment point shall be equal to or less than $200,000 and shall apply to all services, unless otherwise approved by OMPP. The Contractor electing to establish commercial reinsurance agreements with an attachment point greater than $200,000 must provide a justification in its proposal or submit justification to OMPP in writing at least one hundred and twenty (120) calendar days prior to the policy renewal date or date of the proposed change. The Contractor must receive approval from OMPP before changing the attachment point.  The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).  Reinsurance agreements shall transfer risk from the Contractor to the reinsurer.  The reinsurer's payment to the Contractor shall depend on and vary directly with the amount and timing of claims settled under the reinsured contract. Contractual features that delay timely reimbursement are not acceptable.  The Contractor shall maintain a plan acceptable to the IDOI commissioner for continuation of benefits in the event of receivership. The Contractor must finance the greater of $1,000,000 or total projected costs as calculated by the form set forth in 760 IAC 1-70-8.  The Contractor shall obtain continuation of coverage insurance (insolvency insurance) to continue plan benefits for members until the end of the period for which premiums have been paid. This coverage shall extend to members in acute care hospitals or nursing facility settings when the Contractor’s insolvency occurs during the member’s inpatient stay. The Contractor shall continue to reimburse for its member’s care under those circumstances (i.e., inpatient stays) until the member is discharged from the acute care setting or nursing facility.  Requirements for Reinsurance Companies  The Contractor shall submit documentation that the reinsurer follows the National Association of Insurance Commissioners' (NAIC) Reinsurance Accounting Standards.  The Contractor shall be required to obtain reinsurance from insurance organizations that have Standard and Poor's claims- paying ability ratings of "AA" or higher and a Xxxxx’x bond rating of “A1” or higher, unless otherwise approved by OMPP.  Subcontractors  Subcontractors’ reinsurance coverage requirements must be clearly defined in the reinsurance agreement.  Subcontractors should be encouraged to obtain their own stop-loss coverage with the above-mentioned terms.  If subcontractors do not obtain reinsurance on their own, the Contractor is required to forward appropriate recoveries from stop- loss coverage to applicable subcontractors.

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to the North American Re the portion of the initial risk amount in excess of its retention thereafter, the Ceding Company and the North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • Automatic Reinsurance For automatic reinsurance, the Reinsurer's liability will commence at the same time as the Ceding Company's liability, including liability under any conditional receipt or temporary insurance provision.

  • FACULTATIVE REINSURANCE For Facultative reinsurance, the Reinsurer’s liability will commence at the same time as the Ceding Company’s liability, provided that the Reinsurer has made a binding Facultative offer and that offer was accepted, during the lifetime of the insured, in accordance with the terms of this Agreement.

  • BASIS OF REINSURANCE Reinsurance under this Agreement will be on the Yearly Renewable Term basis on the portion of each policy that is reinsured as described in Schedule A.

  • Tenant Insurance Landlord shall not be liable to Tenant, Xxxxxx’s family or Xxxxxx’s invitees, licensees, and/or guests for damages not proximately caused by Landlord or Landlord’s agents. Landlord will not compensate Tenant or anyone else for damages proximately caused by any other source whatsoever, or by Acts of God, and Tenant is therefore strongly encouraged to independently purchase insurance to protect Tenant, Xxxxxx’s family, Xxxxxx’s invitees, licensees, and/or guests, and all personal property on the leased premises and/or in any common areas from any and all damages.

  • Reinsurance Agreements In consideration of the premium stated herein, the Underwriter does hereby agree with the Named Insured to reinsure the Named Insured's insurance policies which provide coverage to the Assured, to the extent hereinafter set forth:

  • Employment Insurance ‌ Employment insurance coverage will be provided during the life of this agreement for regular and auxiliary employees who would, if employed by a private employer, be eligible for such coverage under the provisions of the Employment Insurance Act.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below, or on a facultative basis, subject to the requirements set forth in Section B below, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

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