Assumption Reinsurance Agreement Sample Clauses

Assumption Reinsurance Agreement. BCBSMo shall, and RIT shall cause HALIC to, sign on the date hereof the Assumption Reinsurance Agreement (the "Assumption Reinsurance Agreement") in the form attached hereto as Exhibit B and shall consummate the Transfer and Assumption Transaction in accordance with the terms of the Assumption Reinsurance Agreement.
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Assumption Reinsurance Agreement. Assumption reinsurance agreement" means a contract that both:
Assumption Reinsurance Agreement. At the Closing, MONY and AUSA Life shall execute and deliver to each other the Assumption Reinsurance Agreement in substantially the form of Exhibit A hereto.
Assumption Reinsurance Agreement. In the event that UWS enters into the U-Care Joint Venture, U-Care's insurance business will be transferred to HNOW, an indirect wholly owned subsidiary of UWS, by means of an Assumption Reinsurance Agreement. Under the Assumption Reinsurance Agreement, to be executed by HMOW and U-Care, U-Care will cede its insurance business to HMOW, and HMOW will reinsure such business.
Assumption Reinsurance Agreement. This Assumption Reinsurance Agreement dated as of the date set forth below, is made and entered into by and between COMBINED UNDERWRITERS LIFE INSURANCE COMPANY, a Texas stock life insurance company (hereinafter referred to as the "Company") and TEXAS INTERNATIONAL LIFE INSURANCE COMPANY, a Texas stock life insurance company (hereinafter referred to as the "Reinsurer").
Assumption Reinsurance Agreement. This Assumption Reinsurance Agreement to be entered into between the Company and the Reinsurer.
Assumption Reinsurance Agreement. Section 1.02(a) Attorney General..........................................Recital D
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Assumption Reinsurance Agreement. This Assumption Reinsurance Agreement (the "Assumption Agreement"), is made and entered into as of the Effective Time (as hereinafter defined), by and between JOHN XXXCXXX XXXUAL LIFE INSURANCE COMPANY, a mutual life insurance company organized under the laws of Massachusetts ("the Company"), and UNICARE LIFE & HEALTH INSURANCE COMPANY, a stock life insurance company organized under the laws of Delaware ("the Reinsurer").
Assumption Reinsurance Agreement. Assumption Reinsurance Agreement means the Assumption Reinsurance Agreement to be entered into by the Parties simultaneously with this Agreement and attached hereto as Exhibit 1.5.

Related to Assumption Reinsurance Agreement

  • Insurance Agreement The Trustee is authorized and directed to execute and deliver the Insurance Agreement and to perform the obligations of the Trustee thereunder.

  • Reinsurance The Contractor shall purchase reinsurance from a commercial reinsurer and shall establish reinsurance agreements meeting the requirements listed below. The Contractor shall submit new policies, renewals or amendments to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective.  Agreements and Coverage  The attachment point shall be equal to or less than $200,000 and shall apply to all services, unless otherwise approved by OMPP. The Contractor electing to establish commercial reinsurance agreements with an attachment point greater than $200,000 must provide a justification in its proposal or submit justification to OMPP in writing at least one hundred and twenty (120) calendar days prior to the policy renewal date or date of the proposed change. The Contractor must receive approval from OMPP before changing the attachment point.  The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).  Reinsurance agreements shall transfer risk from the Contractor to the reinsurer.  The reinsurer's payment to the Contractor shall depend on and vary directly with the amount and timing of claims settled under the reinsured contract. Contractual features that delay timely reimbursement are not acceptable.  The Contractor shall maintain a plan acceptable to the IDOI commissioner for continuation of benefits in the event of receivership. The Contractor must finance the greater of $1,000,000 or total projected costs as calculated by the form set forth in 760 IAC 1-70-8.  The Contractor shall obtain continuation of coverage insurance (insolvency insurance) to continue plan benefits for members until the end of the period for which premiums have been paid. This coverage shall extend to members in acute care hospitals or nursing facility settings when the Contractor’s insolvency occurs during the member’s inpatient stay. The Contractor shall continue to reimburse for its member’s care under those circumstances (i.e., inpatient stays) until the member is discharged from the acute care setting or nursing facility.  Requirements for Reinsurance Companies  The Contractor shall submit documentation that the reinsurer follows the National Association of Insurance Commissioners' (NAIC) Reinsurance Accounting Standards.  The Contractor shall be required to obtain reinsurance from insurance organizations that have Standard and Poor's claims- paying ability ratings of "AA" or higher and a Xxxxx’x bond rating of “A1” or higher, unless otherwise approved by OMPP.  Subcontractors  Subcontractors’ reinsurance coverage requirements must be clearly defined in the reinsurance agreement.  Subcontractors should be encouraged to obtain their own stop-loss coverage with the above-mentioned terms.  If subcontractors do not obtain reinsurance on their own, the Contractor is required to forward appropriate recoveries from stop- loss coverage to applicable subcontractors.

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