ORIGINAL REINSURANCE CONTRACT definition

ORIGINAL REINSURANCE CONTRACT means all slips, binding letters of intent, binders, contracts, agreements and treaties of reinsurance with an effective date in calendar year 2001 (and addenda and endorsements thereto) issued to a REINSURED by the AGENT on behalf of both LEAD REINSURER and the PRINCIPAL that conform to all the requirements of Schedule 3 to this AGREEMENT.
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Examples of ORIGINAL REINSURANCE CONTRACT in a sentence

  • The AGENT shall receive ORIGINAL REINSURANCE CONTRACT submissions, proposals or applications on behalf of the PRINCIPAL.

  • The AGENT shall, upon receipt of notification of an ORIGINAL REINSURANCE CLAIM, make such enquiries and take such action as it deems necessary or appropriate to investigate and assess whether said ORIGINAL REINSURANCE CLAIM is covered under the ORIGINAL REINSURANCE CONTRACT to which it relates.

  • With respect to any ORIGINAL REINSURANCE CLAIM less than USD $250,000, the AGENT shall make all CLAIMS PAYMENTS called for under the ORIGINAL REINSURANCE CONTRACTS but only to the extent that AGENT determines that such ORIGINAL REINSURANCE CLAIM is covered under the applicable ORIGINAL REINSURANCE CONTRACT.

  • The maximum policy period on any policy reinsured under an ORIGINAL REINSURANCE CONTRACT is 18 months.

  • The AGENT shall conduct such underwriting investigations as are required by Schedule 3 and/or prudent business practices before underwriting an ORIGINAL REINSURANCE CONTRACT on behalf of the PRINCIPAL.

Related to ORIGINAL REINSURANCE CONTRACT

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.

  • Reinsurance Agreement means any agreement, contract, treaty or other arrangement whereby one or more insurers, as reinsurers, assume liabilities under insurance policies or agreements issued by another insurance or reinsurance company or companies.

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • variable insurance contract means a contract of life insurance under which the interest of the purchaser is valued for purposes of conversion or surrender by reference to the value of a proportionate interest in a specified portfolio of assets.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Reinsurance Agreements means any agreement, contract, treaty, certificate or other arrangement by which any Insurance Subsidiary agrees to transfer or cede to another insurer all or part of the liability assumed or assets held by it under one or more insurance, annuity, reinsurance or retrocession policies, agreements, contracts, treaties, certificates or similar arrangements. Reinsurance Agreements shall include, but not be limited to, any agreement, contract, treaty, certificate or other arrangement that is treated as such by the applicable Department.

  • Reinsurance intermediary means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

  • Insurance Consultant or "consultant" means a person who:

  • Insurance Schedule means Schedule 3 attached hereto.

  • insurance broker means an insurance brokerage firm,

  • Service Contract means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.

  • Reinsurer has the meaning set forth in the preamble.

  • Insurance Agreement means the insurance and indemnity agreement identified in the Adoption Annex.

  • Ceding Commission shall have the meaning specified in Section 5.2.

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;

  • Insured Contract means any written:

  • Insurance Rent the sums described in paragraph 1.1 of Schedule 4; “Insured Risks” the risks of fire (including subterranean fire), lightning, explosion, storm, flood, subsidence, landslip, heave, earthquake, burst or overflowing water pipes, tanks or apparatus, impact by aircraft or other aerial devices and any articles dropped from them, impact by vehicles, terrorism, riot, civil commotion and malicious damage to the extent, in each case, that cover is generally available on normal commercial terms in the UK insurance market at the time the insurance is taken out, and any other risks against which the Landlord reasonably insures from time to time, subject in all cases to any excesses, limitations and exclusions imposed by the insurers;20

  • Insurance carrier means every insurance carrier duly

  • Retrocession Agreement means any agreement, contract, treaty or other arrangement whereby one or more insurers or reinsurers, as retrocessionaires, assume liabilities of reinsurers under a Reinsurance Agreement or other retrocessionaires under another Retrocession Agreement.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Ceding Company has the meaning set forth in the preamble.

  • Coinsurance means that you pay a percent of the total cost of the drug each time you fill a prescription.