Covered Insurance Policies has the meaning set forth in the Reinsurance Agreement.
Covered Insurance Policies means, with respect to any Reinsured Portfolio, (a) the policies listed in the electronic file specified in Schedule 1.2 with respect to such Reinsured Portfolio, as such electronic file may be updated from time to time in accordance with Schedule 1.2, (b) any such policy that is terminated and then subsequently issued as a reinstatement of a Covered Insurance Policy in accordance with Section 2.1(b), (c) any such policy that is issued as an exchange, replacement or conversion of a Covered Insurance Policy in accordance with Section 2.1(c), (d) any policy that is issued as a conversion of a Covered Insurance Policy in accordance with Section 2.1(g), or (e) any policy issued as a Supplemental Contract in accordance with Section 2.1(e) or (f), in the case of each of (b) and (c), after the Effective Time and in each case of (d) and (e), after the Amendment Date.
Covered Insurance Policies means any and all endorsements, riders, certificates and contracts of insurance issued by the Ceding Company on or after the Effective Time that correspond to the annuity products identified on Schedule 1.1 and any renewals thereof, including without limitation all such contracts lapsed and terminated with unpaid claims or subsequently reinstated.
Examples of Covered Insurance Policies in a sentence
The Reinsurer shall bear all risk of collecting amounts due in respect of the Covered Insurance Policies under the Existing Reinsurance Agreements.
The Ceding Company will also recapture all, and not less than all, of the reinsurance of the Covered Insurance Policies ceded under this Agreement if termination of this Agreement is awarded by an arbitration panel pursuant to Section 10.3(d); provided that the Recapture Effective Date for any such recapture shall be determined by the arbitration panel unless otherwise agreed between the Parties in writing.
If the Ceding Company’s liability under any of the Covered Insurance Policies is changed because of a misstatement of age, sex or any other material fact, the Reinsurer shall: (a) assume a Quota Share of that portion of any increase in the Ceding Company’s liability resulting from the change; and (b) receive credit for a Quota Share of that portion of any decrease in the Ceding Company’s liability resulting from the change.
Following the Amendment Date, this Section 3.6(a) shall cease to apply to the Ceding Company’s administration of the Covered Insurance Policies.
The “Terminal Settlement” shall consist of (i) the Quarterly Net Settlement Amount for the Terminal Accounting Period, and (ii) the Embedded Value Payment with respect to the then in-force Covered Insurance Policies as of the Recapture Effective Date.
More Definitions of Covered Insurance Policies
Covered Insurance Policies means (i) the In Force Policies and (ii) the New Policies.
Covered Insurance Policies means (i) any and all binders, endorsements, riders, policies, certificates, and contracts of individual or group life insurance, and supplementary contracts of individual or group life insurance (including retained asset accounts and all other settlement options) issued, renewed or assumed by the Ceding Company in the United States, the District of Columbia, Puerto Rico or Guam and that correspond to the policy forms of the Ceding Company identified by form number on Schedule 1.1(B) (with the group life items identified under a separate heading on such schedule), (ii) any and all binders, endorsements, riders, policies, certificates, and contracts of individual life insurance, and supplementary contracts of individual life insurance (including retained asset accounts and all other settlement options) issued in the United States, the District of Columbia, Puerto Rico or Guam that are reinsured by the Ceding Company from an Underlying Company pursuant to the Underlying Reinsurance Agreements identified in Schedule 1.1(C) and that correspond to the policy forms of the Ceding Company (or the Underlying Companies) identified by form number on Schedule 1.1(B), (iii) all other binders, endorsements, riders, policies, certificates, and contracts of individual or group life insurance, and supplementary contracts of individual or group life insurance (including retained asset accounts and all other settlement options) issued, renewed, reinsured or assumed by the Ceding Company in the United States, the District of Columbia, Puerto Rico or Guam on policy forms that are substantially similar to the policy forms of the Ceding Company identified on Schedule 1.1(B), (iv) the endorsements and riders to policies of individual or group life insurance covered by clauses (i) through (iii) above that are identified on Schedule 1.1(B), in each of clauses (i) through (iv), issued, renewed, reinsured or assumed by the Ceding Company on or prior to the Closing Date (including those that have lapsed and terminated with unpaid claims), provided, that in each of clauses (i) through (iv) such item is reflected or otherwise taken into account in the Closing Statement of General Account Net Settlement, and (v) the New Insurance Policies; provided further, that Covered Insurance Policies shall not include any policies listed on Schedule 1.1(D).
Covered Insurance Policies means the LBL Contracts and the Vermont Captive Contracts.
Covered Insurance Policies means (a) all Policies issued, renewed or assumed by PRIAC prior to the Effective Time, other than the PRIAC Excluded Insurance Policies and (b) (i) all Policies issued, renewed or assumed by PICA prior to the Effective Time that constitute part of the FSS Business (specifically including any stable value wrap contract with respect to either a PTC Contract or an Other Wrapped IMA) and are in force and listed on the Seriatim File or, upon delivery hereunder, the Updated Seriatim File, as such file may otherwise be amended pursuant to Section 5.29, including, conversions, exchanges, replacements or reissuances thereof effected pursuant to the terms thereof or as required by applicable Law that continue to remain on policy forms issued by PICA and (ii) the New Insurance Policies (as defined in the PICA FSS Reinsurance Agreements), in each case including any such Policies that have lapsed and terminated with unpaid claims or are subsequently reinstated.
Covered Insurance Policies means any and all binders, policies, certificates, contracts of insurance, supplementary contracts of insurance and annuity contracts issued, assumed, reinsured or renewed by the Ceding Company that are (x)(i) identified or described on the internal systems, books, records or other data of the Ceding Company as constituting its legacy life and annuity business, and (ii) incorporated in or factored into the analyses and projections set forth in the Actuarial Report or (y) policies that correspond to the policy codes or forms of the Ceding Company based on the seriatim listing provided by the Ceding Company specified on Schedule 1.1(A) and as updated within sixty (60) days following the Closing Date, in each case, including (a) all endorsements, riders, and side letters thereto, (b) subject to Section 2.1(h), any supplementary contracts or policies issued in connection with any settlement option or annuitization of an annuity contract included in the Covered Insurance Policies following the Effective Time, (c) conversions, exchanges, replacements or reissuances related thereto that are effected pursuant to the terms of such included Covered Insurance Policies or as required by Applicable Law, and (d) all Discovered Policies, in each case of (a), (c) and (d), whether issued, assumed, reinsured or renewed by the Ceding Company prior to, at or following the Effective Time (including those that have lapsed or terminated with unpaid claims or unsettled obligations and those that are kept in force in accordance with mandates or recommendations of Governmental Entities in connection with the COVID-19 pandemic), and including, for the avoidance of doubt, the insurance policies constituting the Regulatory Closed Block, but excluding (x) any Retained Asset Accounts (or contracts, assets or obligations relating thereto) of the Ceding Company or any Underlying Company as of the Effective Time, (y) certain annuities of the Ceding Company or any Underlying Company in payout status as of the Effective Time as set forth on Schedule 1.1(B) and (z) the binders, policies, certificates, contracts of insurance, supplementary contracts of insurance and annuity contracts specified on Schedule 1.1(B).
Covered Insurance Policies has the meaning ascribed to it in Section 2.5.
Covered Insurance Policies means those policies set forth on Part (b) of Schedule 7.13.