class B insurer definition

class B insurer means a holder of a valid class B insurer licence referred to in section 4(3)(b);
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Examples of class B insurer in a sentence

  • Returns required of insurer (3) The following exemptions apply to the requirements of subsection (1) - (a) a class C insurer or a class B insurer that does not write long term business is not required to make submissions under subsection (1)(b) or (c); and (b) the Authority may in writing exempt other classes of insurer from the requirement under subsection (1)(b) where it considers it appropriate, based on the nature, scale or scope of the insurance business involved.

  • Applicants must remit to the Authority any differences in the licence fees between the class B insurer licence categories (where the annual licence fee reduces due to the reclassification of the licence, the Authority will not refund the difference).

  • Only a person incorporated as an exempted company under the Companies Law and that has at least two directors may be licensed as a class B insurer or a class C insurer.

  • This Policy is applicable to persons seeking to carry on insurance business as a class B insurer (“applicants”) in or from within the Cayman Islands.

  • The ownership structure chart should show all the intermediary holding and operating entities between the class B insurer and its ultimate beneficial owners with 10% or more control.

  • Applicants shall demonstrate that they meet the definition of the appropriate class B insurer licence category pursuant to the Law.

  • It is expected that the manager will be the principal contact between the Authority and the class B insurer.

  • Notification of change of directors, managers or officers of the class B insurer to the Authority.

  • Notification of a change in shareholders/beneficial interest of the class B insurer to the Authority.

  • Notification of difficulties in obtaining information from the class B insurer to the Authority.

Related to class B insurer

  • Certificate Insurer As defined in the Series Supplement.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Certificate Insurer Default The existence and continuance of any of the following:

  • Class H designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Certificate Group Each of the Group 1 Certificates and the Group 2 Certificates.

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

  • Insured Certificates The Class A-1 Certificates.

  • R&W Insurer means AIG Specialty Insurance Company.

  • Note A-2 Special Servicer means the special servicer under the Note A-2 PSA.

  • Policy Holder means the person who is a legal holder of this Policy and is named as the “Policy Holder” in the Policy Schedule.

  • 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.

  • Class A-IO Certificate Any one of the Class A-IO Certificates executed, authenticated and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class A-PO Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-PO and Exhibit C hereto.

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Member insurer means any person who:

  • Class A-2 Certificateholder The registered holder of a Class A-2 Certificate.

  • Class A-3 Certificateholder The registered holder of a Class A-3 Certificate.

  • Class B Certificateholder means the Person in whose name a Class B Certificate is registered in the Certificate Register.

  • Class A-1 Certificateholder The registered holder of a Class A-1 Certificate.

  • Class HI B-2 Formula Interest Distribution Amount" means, as to any Payment Date, the sum of (a) the amount specified in clause (a) of the definition of the term "Class HI: B-2 Formula Distribution Amount" and (b) the Unpaid Class HI: B-2 Interest Shortfall, if any.

  • Policy Owner means the owner named in the policy or the certificate holder in the case of a group policy.

  • Class H Certificate means any of the Certificates with a "Class H" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class B Investor Interest means, on any date of determination, an amount equal to (a) the Class B Initial Investor Interest, minus (b) the aggregate amount of principal payments made to Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(b), minus (d) the amount of the Reallocated Class B Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Collateral Interest Amount has not been reduced, minus (e) an amount equal to the amount by which the Class B Investor Interest has been reduced on all prior Transfer Dates pursuant to subsection 4.10(a) and plus (f) the aggregate amount of Excess Spread allocated and available on all prior Transfer Dates pursuant to subsection 4.11(d) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Investor Interest may not be reduced below zero.

  • Note A-1 Special Servicer means the special servicer under the Note A-1 PSA.

  • General Special Servicer mean the Person performing the duties and obligations of special servicer with respect to the Mortgage Pool (exclusive of (A) any Serviced Loan Combination or related REO Property as to which a different Loan Combination Special Servicer has been appointed with respect thereto and (B) any Excluded Special Servicer Mortgage Loan or any related REO Property as to which an Excluded Mortgage Loan Special Servicer has been appointed with respect thereto).