AUTOMATIC REINSURANCE definition

AUTOMATIC REINSURANCE. The Ceding Company shall retain its available retention on each risk, defined below as the Retained Net Amount at Risk, subject to the applicable Ceding Company's Treaty Retention Limit shown in Exhibit II. The Reinsurer will automatically reinsure a portion of the remainder of the risk, called the Reinsured Net Amount at Risk, as defined below in this Schedule B.
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AUTOMATIC REINSURANCE. For automatic reinsurance, MARC's liability for amounts ceded hereunder will commence at the same time as the Ceding Company's liability.
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AUTOMATIC REINSURANCE. The Ceding Company shall retain its available retention on each risk, defined below as the Retained Net Amount at Risk, subject to the applicable Ceding Company's Treaty Retention Limit shown in Exhibit II. The Reinsurer will automatically reinsure a portion of the remainder of the risk, called the Reinsured Net Amount at Risk, as defined below in this Schedule B, not to exceed the Reinsurer's Maximum Automatic Participation Limit, as set forth in Exhibit II. TOTAL ALLOCATION LIMIT (TAL): As shown in Exhibit II. CEDING COMPANY'S TREATY RETENTION LIMIT (CCTRL): As shown in Exhibit II. CEDING COMPANY'S ALLOCATED RETENTION (CCAR): As shown in Exhibit II. CURRENT RETENTION (CURRRET) = Current amount of life insurance retained by the Ceding Company and its affiliated companies on the life for in-force life insurance coverage. (For Last Survivor risks, see the Last Survivor Limits and Retention Worksheet in Exhibit II.) REINSURER'S ALLOCATED RETENTION (REINSARET): As shown in Exhibit II. REINSURER'S ATTACHMENT POINT (REINSAPT): As shown in Exhibit II. NAR TYPE for the Plan of Insurance to be reinsured under this Agreement, as shown in Schedule A. STEP 1 -- DETERMINE TOTAL NET AMOUNT AT RISK FOR THE COVERAGE TOTAL NET AMOUNT AT RISK (TOTNAR)* = For NAR TYPE A, Death Benefit minus the Account Value. For NAR TYPE B, Death Benefit minus the Working Reserve, where Allocated Retention Pool (Non-Excess Risks) -- Effective 10/01/2008 Between HLAIC and Canada Life Amendment 8 -- Effective 03/01/2012
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Examples of AUTOMATIC REINSURANCE in a sentence

  • EXHIBIT E-I AUTOMATIC REINSURANCE POOL CAPACITY The following chart outlines the automatic pool capacity only.

  • TABLE OF CONTENTS ARTICLE/SCHEDULE TITLE PAGE ARTICLE I AUTOMATIC REINSURANCE 1 ARTICLE II BASIS OF REINSURANCE 1 ARTICLE III PREMIUMS 2 ARTICLE IV STANDARD PROVISIONS 3 A.

  • SCHEDULE B BASIS OF REINSURANCE REINSURANCE POOL SHARE: [Redacted] AUTOMATIC REINSURANCE The Ceding Company will retain its available retention on each risk as referenced in Exhibit II.

  • Allocated Retention Pool -- Effective 10/1/2008 Between HLIC and Swiss Re SCHEDULE B REINSURANCE SPECIFICATIONS EFFECTIVE OCTOBER 1, 2008 AUTOMATIC REINSURANCE: The Ceding Company shall retain its available retention on each risk, defined below as the Retained Net Amount at Risk, subject to the applicable Ceding Company's Treaty Retention Limit shown in Exhibit II.

  • Pool -- Effective 10/1/2008 Between HLIC and TFLIC 39 SCHEDULE B REINSURANCE SPECIFICATIONS EFFECTIVE OCTOBER 1, 2008 AUTOMATIC REINSURANCE: The Ceding Company shall retain its available retention on each risk, defined below as the Retained Net Amount at Risk, subject to the applicable Ceding Company's Treaty Retention Limit shown in Exhibit II.

  • Allocated Retention Pool -- Effective 10/01/2008 Between HLIC and TFLIC Amendment 2 - Effective October 1, 2008 7 SCHEDULE B REINSURANCE SPECIFICATIONS EFFECTIVE OCTOBER 1, 2008 AUTOMATIC REINSURANCE: The Ceding Company shall retain its available retention on each risk, defined below as the Retained Net Amount at Risk, subject to the applicable Ceding Company's Treaty Retention Limit shown in Exhibit II.

  • The deliverable of this Task (D5.4) will be a comprehensive plan to successfully engage stakeholders to prepare the ground for the future formulation of a common European roadmap for a geothermal energy technology RDD&I program.

  • Allocated Retention Pool -- Effective 10/1/2008 Between ILA and Swiss Re SCHEDULE B REINSURANCE SPECIFICATIONS EFFECTIVE OCTOBER 1, 2008 AUTOMATIC REINSURANCE: The Ceding Company shall retain its available retention on each risk, defined below as the Retained Net Amount at Risk, subject to the applicable Ceding Company's Treaty Retention Limit shown in Exhibit II.

  • AUTOMATIC REINSURANCE We will accept automatically reinsurance of life benefits for your individually underwritten ordinary life policies on any permanent resident of the United States or Canada, in agreement with the provisions and limitations shown in Exhibit A (Reinsurance Coverage).

  • Our recommendations focused on the development of the Report Collection, improving the quality of data on the database, and making the Expeditions Database more relevant in the digital age.


More Definitions of AUTOMATIC REINSURANCE

AUTOMATIC REINSURANCE of the Agreement, hereby seeks consent of such modifications of the Investment Requirements from the Reinsurer;
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AUTOMATIC REINSURANCE means reinsurance which must be ceded by the Ceding Company in accordance with contract terms (treaty), and must be accepted by the Reinsurer;
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AUTOMATIC REINSURANCE. A reinsurance agreement under which the Reinsurer is obligated to accept or assume risks that meet certain specific criteria based on the Ceding Company's underwriting. BINDING LIMIT - The face amount reinsured over the Ceding Company's retention, which can be ceded automatically if all automatic conditions are met. CASH VALUE - The amount of money that the policy owner will receive as a refund if the policy owner cancels the coverage and returns the policy to the company. CEDE - To transfer an insurance risk from the company originally issuing the policy to another insurance company known as the Reinsurer.
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Related to AUTOMATIC REINSURANCE

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Medicare benefit means the Medicare benefit payable within the meaning of Part II of the Health Insurance Act 1973 with respect to a professional service.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Coinsurance means that you pay a percent of the total cost of the drug each time you fill a prescription.

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

  • Reinsurance Agreement means any agreement, contract, treaty or other arrangement whereby one or more insurers, as reinsurers, assume liabilities under insurance policies or agreements issued by another insurance or reinsurance company or companies.

  • Disability Benefit means the benefit set forth in Article 8.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Credit unemployment insurance means insurance:

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

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

  • Social Security Benefit means the Primary Insurance Amount to which a Participant becomes entitled at age sixty-five (65) under Social Security legislation in effect on the earliest of his Normal Retirement Date, early retirement date or Termination Date.

  • Reinsurance intermediary means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

  • Medicare means the “Health Insurance for the Aged Act,” Title XVIII of the Social Security Amendments of 1965, as then constituted or later amended.

  • Ceding Company has the meaning set forth in the preamble.

  • variable insurance contract means a contract of life insurance under which the interest of the purchaser is valued for purposes of conversion or surrender by reference to the value of a proportionate interest in a specified portfolio of assets.

  • insurance period means a contribution period or an equivalent period;

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Reinsurers shall be understood to mean “Reinsurers”, “Underwriters” or whatever other term is used in the attached reinsurance document to designate the reinsurer or reinsurers.

  • Unemployment Insurance means the contribution required of Vendor, as an employer, in respect of, and measured by, the wages of its employees (or subcontractors) as required by any applicable federal, state or local unemployment insurance law or regulation.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Ceding Commission shall have the meaning specified in Section 5.2.

  • Insurance Schedule means Schedule 3 attached hereto.