Assumed Policy definition

Assumed Policy refers to any policy that has been assumed, removed, or taken-out from Citizens pursuant to the Plan by Insurer.
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Assumed Policy means each of the Policies.
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Assumed Policy has the meaning ascribed to it in the Assumption Agreement. “Assumption Agreement” has the meaning ascribed to it in the Master
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Examples of Assumed Policy in a sentence

  • Any payments for benefits made under any Assumed Policy prior to its Assumption Effective Date by the Ceding Company, or by the Reinsurer on behalf of the Ceding Company pursuant to the Coinsurance Agreement, shall be deemed to have been made by the Reinsurer for purposes of determining any maximum benefits payable to any Policyholder under any of the Assumed Policies.

  • The Policyholder under the Assumed Policy shall thereafter disregard the Ceding Company as a party to the Assumed Policy and treat the Reinsurer as if it had been originally obligated as the direct issuing insurer under the Assumed Policy.

  • On the applicable Assumption Effective Date, the Reinsurer shall be the successor of the Company with respect to the Assumed Policy, and such Assumed Policy shall be the direct obligation of the Reinsurer, and the Company shall have no further rights or liability thereunder.

  • The Policyholder and any persons insured under the Assumed Policy shall thereafter disregard the Company as a party to the Assumed Policy and treat the Reinsurer as if it had been originally obligated under the Assumed Policy.

  • For bidders who use an alternate form, it is in Canada's sole discretion to determine whether all the required information has been provided.

  • Select ‘Add Worksheet Item’ and check the ‘Does this item include match?’ box.

  • On the applicable Assumption Effective Date with respect to each Coinsured Contract, the Reinsurer shall be the successor of the Ceding Company with respect to the Assumed Policy, and such Assumed Policy shall be the direct obligation of the Reinsurer, and the Ceding Company shall have no further rights, obligations, liabilities or risks arising under, in connection with or related to the Assumed Policy including with respect to Producer Payments.

  • Upon the Assumption Effective Date with respect to any Coinsured Contract, the Ceding Company shall have no further obligation, liability or risk arising under, in connection with or related to the Assumed Policy.

  • The substitution of the Reinsurer for the Company under an Assumed Policy with the result that the Reinsurer becomes directly liable to the Policyholder as of the Assumption Effective Date and the Company's liability to the Policyholder under such Assumed Policy is extinguished.

  • An Insurer may not cancel or nonrenew an Assumed Policy for exposure management or for any underwriting reason that the Insurer knew or should have known of at the Assumption Date.


More Definitions of Assumed Policy

Assumed Policy means any Ceded Policy to which an Assumption Effective Date applies, other than (a) a Ceded Policy for which the Unitrin Companies have provided Xxxxxx with an Exclusion Notice and not an Assumption Notice or (b) a Ceded Policy for which no company is identified on Exhibit A as eligible to assume such Ceded Policy.
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Related to Assumed Policy

  • Covered policy means a policy of commercial risk insurance, professional liability insurance or public entity insurance.

  • R&W Policy means any buyer-side representations and warranties insurance policy purchased by a Buyer or an Affiliate thereof in connection with this Agreement on or before the Closing Date.

  • Claims Made Policies has the meaning set forth in Section 5.01(b).

  • Shared Policies means all Policies, current or past, which are owned or maintained by or on behalf of D&B or any of its Subsidiaries which relate to one or more of the D&B Business, the Cognizant Business or the ACNielsen Business.

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

  • Lapsed Policy means a Policy which has not acquired the Surrender Value and where the due Premium has not been received till the expiry of the Grace Period;

  • Reinsured Policies has the meaning assigned to it in the Reinsurance Agreement.

  • Purchaser Plans shall have the meaning set forth in Section 6.6(a)(v).

  • D&O Policy has the meaning set forth in Section 6.18(b).

  • D&O Tail Policy has the meaning set forth in Section 5.8(c).

  • Seller Plans has the meaning set forth in Section 3.13(a).

  • D&O Policies has the meaning set forth in Section 8.01(e).

  • Seller Plan means any Employee Benefit Plan maintained, or contributed to, by the Seller or any ERISA Affiliate.

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • Insurance Policies has the meaning set forth in Section 3.16.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Assumed Servicing Liability means any Liabilities with respect to any Serviced Appointments (or Serviced Corporate Trust Contracts) that arise out of or relate to facts, circumstances, actions, omissions and/or events occurring from and after the Closing and prior to the applicable Succession Time for such Serviced Appointment; provided that Assumed Servicing Liability shall not include any Liabilities that arise out of or relate to facts, circumstances, actions, omissions and/or events with respect to any Retained Duties or any matters for which Seller or any of its Affiliates is responsible pursuant to Section 3.9.

  • CSR Policy means the present Corporate Social Responsibility Policy of the Company, which covers the activities to be undertaken by the Company as specified in Schedule VII to the Act and the CSR Expenditure thereon.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Company Insurance Policies has the meaning set forth in Section 3.14.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.

  • Insured Contract means any written:

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Assumed Agreements shall have the meaning as set forth in Section 2.2.

  • LPMI Policy A policy of primary mortgage guaranty insurance issued by a LPMI Insurer pursuant to which the related premium is to be paid from payments of interest made by the Mortgagor.