A&P Claims definition
Examples of A&P Claims in a sentence
Third Party Reinsurance Recoverables relating to A&P Claims paid by Reinsurer shall be paid to Reinsurer.
Administrator shall pay, using its own funds, A&P Claims and associated expenses as Ultimate Net Loss under the LPT Reinsurance Agreement and subject to the terms of the LPT Reinsurance Agreement.
Administrator shall provide Reinsureds with quarterly progress reports regarding such A&P Claims or accounts.
An account with Reinsured Contracts which includes both A&P Claims and Non-A&P Claims is referred to in this Administrative Services Agreement as a “Mixed Account.” As used in this Section 4.2(a), “account” shall mean an insured or cedent under a Reinsured Contract.
The Administrative Services shall include, as necessary and appropriate, all functions relating to the handling of A&P Claims, including those functions set forth in this Section 5.1.
To the extent that the Reinsured does not use commercially reasonable efforts to collect such Post-Inception Date Retrospective Premiums, the Reinsurer shall have the right to assume the management and control of the collection efforts of such Post-Inception Date Retrospective Premiums attributable to A&P Claims.
The Reinsured shall use substantially the same level of diligence and care in collecting Post-Inception Date Retrospective Premiums that are attributable to A&P Claims as the Reinsured exercises in collecting similar retrospective premiums in connection with its other insurance and reinsurance businesses.
The following terms shall have the respective meanings set forth below throughout this TPR Allocation Agreement: “A&P Recoverables” means all Recoverables that arise out of or relate to A&P Claims and which are attributable to reinsurance ▇▇▇▇▇▇▇▇ issued on or after the Inception Date, but prior to the expiration or termination of the LPT Reinsurance Agreement.
At the Closing, the CNA Parties and NICO shall execute and deliver to each other the Third Party Reinsurance Allocation Agreement which shall be effective as of the Closing Date, pursuant to which the CNA Parties and NICO will allocate between the Parties, the Third Party Reinsurance Recoverables in accordance with whether such recoverables are allocable to A&P Claims reinsured by NICO or that are allocable to Non-A&P Claims that are not ceded to NICO.
In no event shall Reinsured make any outgoing payment or return of Post-Inception Date Retrospective Premiums attributable to A&P Claims without first consulting with the Reinsurer.