Outstanding Loss definition

Outstanding Loss means all of the Company’s incurred but unpaid liability arising out of or relating to its Policies for claims with original Dates Of Loss prior to 12:01 a.m., Pacific Standard Time, July 1, 1995, whether such liability is known and carried as a reserve on the Company’s books or is unknown. It is warranted by the Company that payments have been made on such claims in the * Confidential treatment has been requested with respect to certain portions of this exhibit. Such portions are marked with a “[*]” in place of the redacted language. Omitted portions are filed separately with the Securities and Exchange Commission. ordinary course of business up to 12:01 a.m., July 1, 1999, and that at the inception of this Agreement there has been no build-up of payments due but not made.
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Examples of Outstanding Loss in a sentence

  • Losses and Loss Adjustment Expenses plus Loss Development Reserves plus Outstanding Loss Reserves.

  • The Company and the Reinsurer shall, by mutual agreement, determine the present value of such Outstanding Loss, and the Reinsurer shall pay its proportion of the amount so determined to be the present value of such Outstanding Loss.

  • The Company and the Reinsurers shall, by mutual agreement, determine the present value of such Outstanding Loss, and the Reinsurers shall pay their proportion of the amount so determined to be the present value of such Outstanding Loss.

  • The Outstanding Loss Reserve shall match the total amount of those losses which, irrespective of their occurrence date, appear as still unpaid, according the amount of such losses in the Company's half-yearly accounts (as at 30th June 1998 and 31st December 1998 for the first period).

  • The Company shall submit a statement to the Reinsurer listing amounts paid and reserved in respect of all Outstanding Loss included in the commutation.

  • The relevant English Authorised Scheme Company’s liability under The English Scheme to make payment to the FSCS in respect of any Protected Agreed Liability, Protected Outstanding Loss and Protected IBNR shall be fixed at the amounts payable in respect of the FSCS Amount under The English Scheme.

  • Monthly the Company shall report the Unearned Premium and Outstanding Loss Reserves.

  • The FSCS may in its sole discretion agree, in whole or in part, that a relevant Notified Liability is a Protected Agreed Liability and/or a Protected Outstanding Loss and/or Protected IBNR (as the case may be) in which case such liabilities will become Accepted Protected Liabilities.

  • Any such whole or part of a Notified Liability that is so determined not to be a Protected Agreed Liability or a Protected Outstanding Loss or Protected IBNR (as the case may be) will then be dealt with in accordance with Parts E, F and I.

  • Nothing in this Article or elsewhere in this Agreement shall be interpreted as preventing the Company from commuting all or any part of Outstanding Loss with one Reinsurer or several Reinsurers, if the other Reinsurers do not choose to commute or cannot agree to the same present value amounts as any other Reinsurer or Reinsurers.