Losses Paid definition

Losses Paid as used in this Facultative Quota Share Reinsurance Agreement shall mean losses paid less recoveries for salvage and subrogation.
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Losses Paid means actual payments to claimants under Policies covered hereunder.
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Losses Paid means Losses Paid by or on behalf of the Company less Recoveries for Salvage and Subrogation.
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Examples of Losses Paid in a sentence

  • Loss reimbursement at any calendar quarter for each Coverage Year shall be equal to the amount of such cumulative Ultimate Net Losses Paid at each date in excess of the Retention less net loss reimbursements previously made by the Reinsurers, subject to the Aggregate Limits in accordance with ARTICLE 5: COVERAGES AND AGGREGATE LIMITS.

  • Loss Settlements Following each quarterly report, the Reinsurers shall pay all cumulative Ultimate Net Losses Paid in respect of Business Covered by the Ceding Company on and after January 1st of each respective Coverage Year in excess of the Ceding Company's Retention subject to the Aggregate Limits hereon.

  • The Reinsured shall report to the Reinsurer in a form mutually acceptable, within thirty (30) days after the end of each calendar quarter the amount of Losses Paid by the Reinsured during the quarter.

  • Within thirty (30) days of the end of each month while this Agreement remains in effect, the Company shall render to the Reinsurer an account current which shall summarize Gross Written Premiums, investment income, allowances for commissions, Losses Paid, Obligations and salvage recovered during the applicable month.

  • The total amount of Security required shall be adjusted at December 30, 1996 and at each December 30 thereafter to be an amount equal to 70% (seventy percent) of the Gross Ceded Premium (as set forth in Schedule A hereto) less the amount of Losses Paid for the expiring underwriting year, and such shall constitute the required Security for all underwriting years covered hereunder (computed as provided in Exhibit l hereto).

  • The amount of the Security required as of the date this Agreement is executed by the Reinsurer shall be equal to 100% (one hundred percent) of the amount of the Unearned Premium Reserve less the amount of Losses Paid for the Business reinsured hereunder.

  • Following each quarterly report, the Reinsurers shall pay all cumulative Ultimate Net Losses Paid in respect of Business Covered by the Ceding Company on and after January 1st of each respective Coverage Year in excess of the Ceding Company's Retention subject to the Aggregate Limits hereon.

  • Loss reimbursement at any calendar quarter for each Coverage Year shall be equal to the amount of such cumulative Ultimate Net Losses Paid at each date in excess of the Retention less net loss reimbursements previously made by the Reinsurers, subject to the Aggregate Limits in accordance with the COVERAGES AND AGGREGATE LIMITS Article.

  • In addition, the Reinsured will furnish a loss bordereau monthly within 30 days to include the following: Losses Paid, Loss Adjustment Expenses Paid, Salvages/Recoveries, Total Outstanding Reserve.

  • Total (Line 34) 151,621,493 79,726,765 72,839,346 71,530,002 84,656,170 Net Losses Paid (Page 9, Part 2, Col.


More Definitions of Losses Paid

Losses Paid as used in this Agreement shall mean Losses Paid less Recoveries for Salvage and Subrogation.
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Losses Paid as used in this Facultative Quota Share Reinsurance Agreement shall mean losses paid less recoveries for salvage and subrogation. (H) The term "Loss Expenses Paid" as used in this Facultative Quota Share Reinsurance Agreement shall mean all court costs, fees and expenses; fees for service of process; fees to attorneys; cost of undercover operative and detective services; fees of independent adjusters or attorneys for investigation or adjustment of claims beyond initial investigation, cost of employing experts for preparation of reports, photographs, diagrams, chemical or physical analysis or for advice, opinion or testimony concerning claims under investigation or in litigation; costs for legal transcripts of testimony taken at 30 <PAGE> coroner's inquests, criminal or civil proceedings; costs for copies of any public records; costs of depositions and court reported or recorded statements; and any other similar fees; cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a claim or loss or to the protection and perfection of the subrogation rights of any insured covered by a Policy reinsured hereunder. (I) The term "Liability in Excess of Policy Limits" as used in this Facultative Quota Share Reinsurance Agreement means liability in excess of the limit of the Ceding Company's original Policy, such Loss in excess of the limit having been incurred because of, but not limited to, failure by the Ceding Company to settle within the Policy limit or by reason of alleged or actual negligence or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured of the Ceding Company or in the preparation or prosecution of an appeal consequent upon such action or failure of the Ceding Company to pay any claim when due or improper denial by the Ceding Company of coverage. Notwithstanding any application of the foregoing definition herein, in no event shall coverage for any Liability in Excess of Policy Limits be provided to the extent that such coverage is not permitted under New York law pursuant to any provision of this Facultative Quota Share Reinsurance Agreement. 31 <PAGE>
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Losses Paid as used in this AGREEMENT shall mean LOSSES actually paid by or on behalf of MICCA.
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Losses Paid means payment made for Losses under Policies less related salvage and subrogation recoveries.
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Related to Losses Paid

  • Losses incurred means ceded losses and Loss Adjustment Expense paid as of the effective date of calculation, plus the ceded reserves for losses and Loss Adjustment Expense outstanding as of the same date.

  • Losses shall have the meaning set forth in Section 5(a).

  • Relevant Losses means, in relation to:

  • Loss means any and all damages, fines, fees, penalties, deficiencies, losses and expenses (including without limitation interest, court costs, fees of attorneys, accountants and other experts or other expenses of litigation or other proceedings or of any claim, default or assessment).

  • Direct Losses means all damages, losses, liabilities, penalties, fines, assessments, claims, actions, costs, expenses (including the cost of legal or professional services, legal costs being on a substantial indemnity basis), proceedings, demands and charges whether arising under statute, contract or at common law, except Indirect Losses.

  • Tax Losses has the meaning assigned to such term in Section 7.1(a).

  • Indemnified Losses is defined in Section 5.03 of the Servicing Agreement.

  • Net Income (Loss) means with respect to any Person and for any period, the aggregate net income (or loss) after taxes of such Person for such period, determined in accordance with GAAP.

  • Purchaser Losses shall have the meaning set forth in Section 9.1(a).

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Representative Losses has the meaning set forth in Section 10.01(c).

  • Purchaser Indemnified Person is defined in Section 5.1 of the Sale Agreement.

  • Purchaser Indemnified Persons has the meaning specified in Section 11.01(a).

  • Purchaser Indemnitees has the meaning set forth in Section 7.02.

  • Tax Loss means the taxable income or tax loss of the Trust, determined in accordance with Section 703(a) of the Code, for each Fiscal Year as determined for federal income tax purposes, together with each of the Trust's items of income, gain, loss or deduction which is separately stated or otherwise not included in computing taxable income and tax loss.

  • Purchaser Indemnified Party shall have the meaning set forth in Section 9.1(a).

  • distribution losses means energy losses that result from the interaction of intrinsic characteristics of the distribution network such as electrical resistance with network voltages and current flows;

  • Direct Loss means charges actually paid pursuant to this Agreement in respect of the period of the Delay. For the purposes of clause 13.4, the User's losses arising out of a Delay will be taken to include the amount of the relevant Direct Losses.

  • Indemnified Costs has the meaning specified in Section 8.05(a).

  • Purchaser Indemnified Parties has the meaning set forth in Section 8.2.

  • Buyer Losses shall have the meaning set forth in Section 8.2.

  • relevant loss means any loss or liability which has been or may be incurred by a relevant officer in connection with that relevant officer's duties or powers in relation to the Company, any associated company or any pension fund or employees' share scheme of the Company or associated company; and

  • Indemnifiable Losses means any and all Losses relating to, arising out of or resulting from any Indemnifiable Claim.

  • Seller Losses shall have the meaning set forth in Section 9.1(b).

  • Sustained means - maintained continuously over a period of at least two school years. They will be able to demonstrate that their teaching expertise has grown over the relevant period and is consistently at least good.

  • Funding Losses has the meaning set forth in Section 2.13(b)(ii).