30-Day Amount definition
30-Day Amount means, on the date of any Proof of Loss Claim, the amount of Loss Reserves that are estimated and scheduled by the Ceding Insurer to become Paid Losses within 30 calendar days following such date; provided, that the 30-Day Amount may not exceed the lower of (i) 100% of the Ceding Insurer’s Loss Reserves as of such date and (ii) 100% of the Ceding Insurer’s Paid Losses for the immediately preceding 30-day period.
Examples of 30-Day Amount in a sentence
Proof of Loss Claims delivered with respect to a Payment Date (other than the Final Extended Termination Date or a Partial Commutation Date in respect of the applicable Covered Event) may include only Paid Losses and the 30-Day Amount.