Net Liability definition

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

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Net Liability as used in this Agreement, means the Ceding Company's liability on the annuities reinsured hereunder, excluding any liability resulting from any Guaranteed Living Benefit riders attached to such annuities, less amounts recovered from other reinsurance, including the pre-existing ▇▇▇▇▇ ▇▇▇▇▇▇ Coinsurance Treaty. SCHEDULE B QUARTERLY REPORT OF ACTIVITY AND SETTLEMENTS -------------------------------------------- FROM CEDING COMPANY TO REINSURER Accounting Period: ___________ Calendar Year: ___________ Date Report Completed: ___________

Net Liability as used in this Agreement, means the Ceding Company’s liability on the Annuities, less amounts recoverable from other reinsurance.

Examples of Net Liability in a sentence

• The Aggregate Net Liability of the CVL IM for a Performance Sum in respect of any Charging Period shall not exceed the CVL IM Charging Period Limit.

• The Aggregate Net Liability of Network Rail for a Performance Sum in respect of any Charging Period shall not exceed the Network Rail Charging Period Limit.

• Nothing in this Article shall be construed to mean amounts are not recoverable from the Reinsurer until the final Net Liability to the Company has been ascertained.

• Payment of any recovery amount to one Company by the Reinsurer shall make that Company the agent for payment of all other Companies contributing to the Net Liability.

• In the event that this Agreement shall provide reinsurance for the Net Liability from a Loss Occurrence or event incurred by two or more Companies, each Company contributing to the Net Liability shall be entitled to its proportionate share of the recovery in the proportion that its contribution to the total Net Liability bears to the total Net Liability.

More Definitions of Net Liability

Net Liability means the Cedent's net retained liability on all Policies. Certain policy exchanges for substantially similar policies undertaken by the Cedent for the sole purpose of administrative simplicity shall be considered endorsements rather than replacements and the resulting policies shall continue to be covered by this Agreement.

Net Liability means the liability assessed by an actuary at a valuation made by him and approved by the Commissioner;

Net Liability as used in this Agreement shall mean the remaining portion of the Company's gross liability on each Policy reinsured under this Agreement after deduction of all reinsurance which inures to the benefit of this Agreement.

Net Liability means the liability for Losses and Loss Adjustment Expenses which the Company retains net for its own account and unreinsured in any way, except for excess of loss reinsurance, after recoveries from inuring reinsurance.

Net Liability means the loss and loss adjustment expense liability remaining after the application of Existing Reinsurance and, with respect to CPIC, Pool Reinsurance, in each case to the extent collectible; provided, however, that “Net Liability” shall not include liability with respect to losses and loss adjustment expenses incurred prior to the Effective Date.

Net Liability will mean the Ceding Company's liabilities on the Annuities. During the term of this Agreement, the Ceding Company and its affiliates will retain not less than 50 percent of the liability on the Annuities.

Net Liability will mean the Ceding Company's liabilities on the Annuities. During the term of this Agreement, the Ceding Company and its affiliates, will retain not less than 50 percent of the liability on the Annuities. SCHEDULE B QUARTERLY REPORT OF ACTIVITY AND SETTLEMENTS FROM CEDING COMPANY TO REINSURER Accounting Period: _________________ Calendar Year: ____________________ Date Report Completed: _____________