Captive Account definition

Captive Account means the account maintained by the Company with The Bank of N. T. ▇▇▇▇▇▇▇▇▇▇▇ & Son Limited in Bermuda, which account is identified as Segregated Account PP72022, a segregated account pursuant to the Universal Re-Insurance Company ▇▇▇ ▇▇▇▇, a Private Act of the Bermuda Legislature.
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Examples of Captive Account in a sentence

  • There is no source (other than the Company Entities) for payment of malpractice claims and defense costs other than the Primary Policies, which are funded by the funds maintained in the Captive Account or by the Letter of Credit (the Captive Account also secures the reimbursement obligations under the Letter of Credit should Continental Casualty Company draw on the Letter of Credit).

  • The Company maintains the Captive Account to secure its reimbursement obligations under the Letter of Credit, to pay claims that are insured under the Primary Policies and to pay any amounts that become due for claims under the reinsurance policy.

Related to Captive Account

  • Active Account means an individual investment account in the Plans with a balance greater than $0.00.

  • Inactive Account means a trader’s Account which had Client-Initiated activity and subsequently it remained inactive for a period of 90 days.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Investment Account As defined in Section 3.12(a).