gross liability definition

gross liability shall have the meaning ascribed to such term in section 2.03(c)(iii)(1) hereof.
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gross liability means liability before deducting any part of it which is re- insured;
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gross liability means the liability assessed by an actuary at a valua- tion made byhim or her and approved by the Commissioner;
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Examples of gross liability in a sentence

  • Particulars A B C D Total Gross Liability (-)unmarked application (35,000*6:5:5:4) (-) marked application (-) surplus of ‘D’ distributer to A,B & C (6,000*6:5:5) Net Liability (+) Firm underwriting Total liability 37,500 10,500 31,250 8,750 31,250 8,750 25,000 7,000 1,25,000 35,000 27,000 24,000 22,500 20,000 22,500 12,000 18,000 24,000 90,000 80,000 3,000 2,250 750 4,000 12,500 1,875 125 6,000 10,500 1,875 8,625 - -6,000 - 15,000 10,000 10,000 25,000 4,750 6,125 8,625 15,000 35,000 iv.

  • Particulars X Y Z Total Gross Liability (-)unmarked application (-) marked application (-) surplus of Y’s distributer to X & Z (4,000*12:3) Net Liability (+) Firm underwriting Total liability 60,000 21,600 25,000 9,000 15,000 5,400 1,00,000 36,000 38,400 10,000 16,000 20,000 9,600 5,000 64,000 35,000 28,400 3,200 -4,000 - 4,600 800 29,000 - 25,200 8,000 - 3,000 3,800 10,000 29,000 21,000 33,200 3,000 13,800 50,000 18.

  • Statement showing Net liability Particulars J K Company Total Gross Liability (-)unmarked application (-) surplus is distributed to J&K (1,500*5:3) (-) marked application Net Liability 5,000 - 3,000 - 2,000 3,500 10,000 3,500 5,000 937 3,000 563 -1,500 - 6,500 4,063 3,600 2,437 900 - - 6,500 4,500 463 1,537 2,000 iv.

  • Coverage shall not contain any endorsement(s) excluding nor limiting Product/Completed Operations, Contractual Liability or Gross Liability.

  • Particular M N O P Q R Total Gross Liability (-)marked application Excess of Q is diotr.

  • Particulars A B Company Total Gross Liability (-)unmarked application (-) surplus of company distributed to underwriters (3,000*3:2) (-) marked application Net Liability 36,000 - 24,000 - 40,000 43,000 1,00,000 43,000 36,000 1,800 24,000 1,200 -3,000 - 57,000 34,200 25,000 22,800 12,000 - - 57,000 37,000 9,200 10,800 20,000 iv.

  • Particulars A B C D Total Gross Liability (-)unmarked application (-) marked application Liability (-) Excess of ‘A’ (3:2:1*28,000) (-) Excess of ‘C’ shared among ‘B’&’D’ (3,333*3:1) Net Liability 2,00,000 8,000 1,50,000 6,000 1,00,000 4,000 50,000 2,000 5,00,000 20,000 1,92,000 2,20,000 1,44,000 1,10,000 96,000 90,000 48,000 10,000 4,80,000 4,30,000 -28,000 -- 34,000 14,000 6,000 9,333 38,000 4,667 50,000 -- -- -- 20,000 2,500 -3,333 -- 33,333 833 -- -- - 17,500 - 32,500 50,000 iii.

  • Particulars Star brother Company Total Gross Liability (-)unmarked application (-) surplus of company distributed to star brothers (-) marked application Net Liability 16,000 - 4,000 5,000 20,000 5,000 16,000 1,000 -1,000 - 15,000 - 15,000 10,000 - - 15,000 10,000 5,000 5,000 12.

  • Particulars A B C Total Gross Liability (-)unmarked application (1,00,000*5:3:2) (-) marked application (-) surplus of ‘C’ distributer to A&B (4,000*5:3) Net Liability (+) Firm underwriting Total liability 2,00,000 50,000 1,20,000 30,000 80,000 20,000 4,00,000 1,00,000 1,50,000 1,40,000 90,000 56,000 60,000 69,000 3,00,000 2,60,000 10,000 2,500 34,000 1,500 -4,000 - 40,000 7,500 40,000 32500 20,000 - 20,000 40,000 80,000 47,500 52,500 20,000 1,20,000 21.

  • Particulars A B C Total Gross Liability (-)unmarked application (15,000*6:3:1) (-) marked application (-) surplus of ‘C’ distributer to A &B (500*6:3 ) Net Liability (+) Firm underwriting Total liability 30,000 9,000 15,000 4,500 5,000 1,500 50,000 15,000 21,000 16,000 10,500 10,000 3,500 4,000 35,000 30,000 5,000 333 500 167 -500 - 5,000 - 4,667 5,000 333 2,000 - 500 5,000 7,500 9,667 2,333 500 12,500 19.


More Definitions of gross liability

gross liability means the total contractual liability under the terms of the Company’s Policies. Gross Liability excludes Loss Adjustment Expense, claim interest and Extra Contractual Obligations. For Group Universal Life, Group Variable Universal Life and Executive Group Variable Universal Life, the cash accumulation fund is also excluded from the Gross Liability.
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gross liability means the liability assessed by an actuary at a valuation made by him or her and approved by the Commissioner;
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gross liability shall have the meaning ascribed to such term in section 2.03(c)(iii)(1) hereof. Section 1.57 “GSA Consummation Date” shall mean the date upon which occurs substantial consummation of a Delphi Plan that (A) provides for (i) the consideration to be received by GM as set forth in section 4.04 hereof and (ii) all releases described in section 4.01 hereof, and (B) contains provisions clarifying that to the extent of any inconsistency between the terms of the Delphi Plan and this Agreement (solely as to the subject matters addressed in this Agreement), the terms of this Agreement will govern. Section 1.58 “HMO” shall mean a health maintenance organization. Section 1.59 “IAM” shall mean, collectively, the International Association of Machinists and Aerospace Workers and its local unions that represent or formerly represented employees and former employees of the applicable Debtor entity. Section 1.60 “IAM MOU” shall mean the “IAM-Delphi GM Memorandum of Understanding-Delphi Restructuring” entered into as of July 31, 2007, as approved by the Bankruptcy Court on August 16, 2007, by and among Delphi, GM, and the IAM, including all attachments and exhibits thereto and all IAM-Delphi collective bargaining agreements referenced therein as modified and each as now or hereafter amended in connection herewith or implemented in accordance with an implementation agreement. Section 1.61 “IAM Releasing Parties” shall mean the IAM, all employees and former employees of Delphi-Related Parties represented or formerly represented by the IAM, and all persons or entities with claims derived from or related to any relationship with such employees or former employees of Delphi-Related Parties. Section 1.62 “IBEW” shall mean, collectively, the International Brotherhood of Electrical Workers and its local unions that represent or formerly represented employees and former employees of the applicable Debtor entity. Section 1.63 “IBEW MOUs” shall mean the “IBEW-Delphi Powertrain-GM Memorandum of Understanding — Delphi Restructuring” and the “IBEW-Delphi Electronics & Safety — GM Memorandum of Understanding — Delphi Restructuring,” entered into as of July 31, 2007, as approved by the Bankruptcy Court on August 16, 2007, by and among Delphi, GM, and the IBEW, including all attachments and exhibits thereto and all IBEW-Delphi collective bargaining agreements referenced therein as modified and each as now or hereafter amended in connection herewith or implemented in accordance with an impleme...
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gross liability means the gross liabilities and obligations owed by Xxxxxx, including all (i) losses paid or payable to an insured or on behalf of an insured to a claimant, (ii) Extracontractual Obligations, (iii) IBNR, (iv) allocated and unallocated loss adjustment expenses incurred by Xxxxxx, and (v) commissions, profit sharing or remunerations paid or payable to Producers by Xxxxxx, but excluding all membership rights and obligations, as described in Section II.F.
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gross liability means liability before deducting any part of it which is reinsured;
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Related to gross liability

  • Gross Liability Value means, with respect to any Liability of the Partnership described in Treasury Regulation Section 1.752-7(b)(3)(i), the amount of cash that a willing assignor would pay to a willing assignee to assume such Liability in an arm’s-length transaction.

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • Net Liability as used herein is defined as the Company's gross liability remaining after cessions, if any, to other pro rata reinsurers.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Product Liabilities means any Liability arising out of, relating to or resulting from actual or alleged harm, injury, damage or death to persons in connection with the use of any product (including in any clinical trial or study);

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration of Trust;

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • Proportionate Liability means the proportion of any judgment that, had the Settling Defendants not settled, the Ontario Court or Quebec Court, as applicable, would have apportioned to the Releasees.

  • Defects Liability Period means the warranty period following the taking over, during which the Contractor is responsible for making good, defects and damage in Goods and Services provided, under the Contract.

  • Common expense liability means the liability for common

  • Product Liability Claim means a Claim of a Third Party (other than a Claim arising out of use of the Product in a clinical trial) that (i) arises as a result of the use of the Product during the Term that results in personal injury or death or (ii) is in anticipation of or intended to prevent or forestall personal injury or death as a result of the use of the Product during the Term.

  • Liability means any liability or obligation (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due), including any liability for Taxes.

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Covered Liabilities as defined in Subsection 11.21.

  • Hovercraft Liability This policy does not cover "hovercraft liability".

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization:

  • Reinsured Liabilities means the General Account Liabilities and the Separate Account Liabilities.

  • Indemnifiable Liabilities and "Indemnifiable Amounts" shall have the meanings ascribed to those terms in Section 3(a) below.

  • Eligible Liabilities and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;

  • MREL Eligible Liabilities means “eligible liabilities” (or any equivalent or successor term) which are available to meet any MREL Requirement (however called or defined by then Applicable MREL Regulations) of the Issuer under Applicable MREL Regulations;