Ceding definition

Ceding means transferring a portion of an insured risk from an insurer to a reinsurer;
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Ceding means the transfer of all or part of the risks of insurance by one insurer to another.
Sample 1
Ceding. Insurer shall retain ownership of all assets held as Reserves on the Policies reinsured hereunder and Reinsurer shall have no legal, equitable or security interest in such assets.
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Examples of Ceding in a sentence

  • Reporting Entity Ceding to Certified Reinsurer Downgraded or Status Subject to Revocation The Company has not entered into any reinsurance contracts with Certified Reinsurers.

  • Ceding of rights associated with a person who commented on an application for municipal planning approval to new land owner125.(1) An owner who commented on an application for municipal planning approval by the closing date stated in the invitation contemplated in item 2(f) of Schedule 5 may, in writing, cede the rights conferred on a person who commented on an application to the new owner of his or her land.

  • Ceding insurers must report this and related information as required by reporting rules established by the National Association of Insurance Commissioners.

  • DefinitionsFor purposes of this subchapter, the following definitions shall apply:(1) Ceding insurerThe term ‘‘ceding insurer’’ means an insurer that purchases reinsurance.(2) Domiciliary StateThe terms ‘‘State of domicile’’ and ‘‘domi- ciliary State’’ mean, with respect to an in- surer or reinsurer, the State in which the in- surer or reinsurer is incorporated or entered through, and licensed.

  • Investigators must first prepare and submit a new study in iRIS using the Application for Request for Ceding to an External IRB.

  • Ceding commissions that are not contingent on claims of the underlying contracts issued reduce ceding premiums and are accounted for as part of reinsurance expenses.

  • This paragraph does not prohibit a Host Party or its supervisory authorities from applying requirements as a condition to allow a Host Party Ceding Insurer to take credit for reinsurance or risk mitigation effects of reinsurance agreements concluded with a Home Party Assuming Reinsurer if the same requirements apply to reinsurance agreements between a ceding insurer and an assuming reinsurer which have their head office or are domiciled in the territory of the same supervisory authority.

  • This Agreement is solely between the Ceding Company and the Reinsurer.

  • Ceding of rights associated with a person who commented on an application for municipal planning approval to new land owner124.(1) An owner who commented on an application for municipal planning approval by the closing date stated in the invitation contemplated in item 2(f) of Schedule 5 may, in writing, cede the rights conferred on a person who commented on an application to the new owner of his or her land.

  • Ceding commissions that are contingent on claims of the underlying contracts issued reduce incurred claims recovery.

Related to Ceding

  • Reinsurer has the meaning set forth in the preamble.

  • 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;

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • Insurer means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.

  • Insurance producer means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance, including annuities.

  • Insurance carrier means every insurance carrier duly

  • 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.

  • Policy Period means the period between the inception date and the expiry date as specified in the Schedule to this Policy or the cancellation of this insurance, whichever is earlier.

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

  • 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.