Trivial Amount definition

Trivial Amount means the sum of £260 per year or such higher amount as may be prescribed under section 21(1) of PSA 93 and section 91(5)(c) of PA 95.
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Trivial Amount means any amount which shall be, from time to time, determined by the Authority which shall not be less than fifty percent of the average statutory minimum wage prescribed by the Cabinet Secretary;
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Examples of Trivial Amount in a sentence

  • Reinsurance will be cancelled on any policy when its reinsured net amount at risk falls below the Trivial Amount limit shown in Exhibit B.

  • Reinsurance will be cancelled on any policy when its reinsured net amount at risk falls below the Trivial Amount limit shown in Exhibit C.

  • For any reinsured policy where the reinsured net amount at risk has fallen below the Trivial Amount limit shown in Exhibit C, the reinsurance on the policy will continue to be reported but the reported reinsured net amount at risk and reinsurance premiums will be zero.

  • If future policy fluctuations cause the reinsured net amount at risk of the policy to rise above the Trivial Amount Limit, the reinsured net amount at risk and reinsurance premiums will resume accordingly.

  • The following shall not apply to cessions recaptured due to falling below a Trivial Amount if provided for under this Agreement.

  • The Ceding Company shall recapture all cessions on the first policy anniversary following the reduction of the amount at risk to less than the Trivial Amount set forth in Exhibit 1, Reinsurance Specifications.

  • Reinsurance shall be cancelled on any Policy when its reinsured net amount at risk falls below the Trivial Amount limit shown in Exhibit B.

  • A reinsured policy will no longer be reinsured when its reinsured Net Amount at Risk (as defined in Schedule B – Reinsurance Limits) is less than the Trivial Amount specified in Schedule B – Reinsurance Limits.