LEAD REINSURER Sample Clauses

LEAD REINSURER. In the interest of expediting the claim settlement process and streamlining the amount of information sent to all reinsurers, the parties agree to use the Lead Reinsurer process described above in Article 9.2 (b). For claims falling under Article 9.2(b) above, consultation on Automatic Reinsurance contestable claims will be determined by the following schedule: ----------------------------------------------------- Claimant Last Name Lead Reinsurer ----------------------------------------------------- A-D [name of reinsurance company] ----------------------------------------------------- E-H [name of reinsurance company] ------------------------------------------------------- I-L [name of reinsurance company] ----------------------------------------------------- M-P [name of reinsurance company] ----------------------------------------------------- Q-Z [name of reinsurance company] ----------------------------------------------------- The Lead Reinsurer will act in a consultative role only and will not make any claim decisions concerning payment of a claim, nor will the Lead Reinsurer act as a third party administrator of claim materials required by other reinsurers under this Agreement. IDSL VUL4/LP Select Treaty 14 If the Ceding Company and Lead Reinsurer do not agree concerning the payment of a claim or any action to be taken relative to the claim, the Ceding Company will submit all relevant claims documentation to all reinsurers on the risk for their consideration. The Ceding Company will wait at least five (5) business days for the reinsurers' comments before proceeding to settle the claim. In no event will the Lead Reinsurer be granted the authority to act on behalf of the other reinsurers with respect to any decision regarding being a party to a contest, compromise, or litigation of a claim involving reinsurance.
Sample 1See All (10)
AutoNDA by SimpleDocs
LEAD REINSURER. Responsibility of the Lead Reinsurer The Lead Reinsurer for underwriting purposes is RGA Reinsurance Company. The Company may contact the Lead Reinsurer verbally or in writing on a case that otherwise falls within the automatic binding parameters when a second opinion of a medical, non-medical or financial nature is desired. The Company shall recommend a rating or course of action, and request that the Lead Reinsurer concur with that recommendation, thereby binding all pool members. In addition to making a decision to bind all pool members, the Lead Reinsurer may alternatively agree to accept their pool share only, recommend an alternate decision that would be acceptable to the pool, or recommend that the case be submitted facultatively to all pool members. With respect to the Lead Reinsurer’s ability to bind the other pool members, cases outside of the limits outlined below will be handled on a facultative basis as set forth in this Agreement. Maximum Issue Age: 80 Maximum Issued Face Amount: $25,000,000
Sample 1Sample 2See All (4)
LEAD REINSURER. Responsibility of the Lead Reinsurer The Lead Reinsurer for underwriting purposes is RGA Reinsurance Company. The Company may contact the Lead Reinsurer verbally or in writing on a case that otherwise falls within the automatic binding parameters when a second opinion of a medical, non-medical or financial nature is desired. The Company shall recommend a rating or course of action, and request that the Lead Reinsurer concur with that recommendation, thereby binding all pool members. In addition to making a decision to bind all pool members, the Lead Reinsurer may alternatively agree to accept their pool share only, recommend an alternate decision that would be acceptable to the pool, or recommend that the case be submitted facultatively to all pool members. With respect to the Lead Reinsurer’s ability to bind the other pool members, cases outside of the limits outlined below will be handled on a facultative basis as set forth in this Agreement. Maximum Issue Age: 80 Maximum Issued Face Amount: $25,000,000 THE REGISTRANT HAS APPLIED FOR CONFIDENTIAL TREATMENT OF CERTAIN TERMS IN THIS EXHIBIT WITH THE SECURITIES AND EXCHANGE COMMISSION. THE CONFIDENTIAL PORTIONS OF THIS EXHIBIT ARE MARKED WITH AN ASTERISK [*] AND HAVE BEEN OMITTED. THE OMITTED PORTIONS OF THIS EXHIBIT HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. YEARLY RENEWABLE TERM REINSURANCE AGREEMENT between XXXX XXXXXXX LIFE INSURANCE COMPANY (U.S.A.) of Lansing, Michigan and HANNOVER LIFE REASSURANCE COMPANY OF AMERICA of Orlando, Florida Effective Date of Agreement: April 1, 2015 Xxxx Xxxxxxx’x Reinsurance Agreement No: HI19C07 Reinsurer Agreement No: HA3506/JHUS-17 TABLE OF CONTENTS YEARLY RENEWABLE TERM REINSURANCE AGREEMENT 1 ARTICLE I DEFINITIONS 1 1. DEFINITIONS. 1 ARTICLE II REINSURANCE; REQUIREMENTS FOR REINSURANCE COVERAGE AND CESSIONS 3 1. REINSURANCE. 3 2. AUTOMATIC REINSURANCE COVERAGE AND CESSIONS. 3 3. FACULTATIVE REINSURANCE COVERAGE AND CESSIONS. 3 4. DATA NOTIFICATION. 4 ARTICLE III STATEMENT OF ACCOUNT 5 1. PREMIUM AND CLAIMS ACCOUNTING. 5 2. NON-PAYMENT OF PREMIUMS. 5 3. UNEARNED PREMIUM. 6 ARTICLE IV CHANGES TO BUSINESS REINSURED 7 1. CONVERSIONS. 7 2. CONVERSIONS WITH INCREASES. 7 3. POLICY CHANGES. 7 4. PLAN CHANGES. 7 5. INCREASE IN AMOUNT AND UNDERWRITING RECLASSIFICATION. 8 6. REDUCTIONS. 8 7. SPECIAL CHANGES. 8 8. LAPSES. 8 9. RESCISSIONS. 9 10. REINSTATEMENTS. 9 11. MINIMUM FINAL CESSION. 9 12. RETENTION...
Sample 1See All (4)
LEAD REINSURER. For Simplified Issue and Guaranteed Issue cases where the terms for automatic reinsurance are not met, but where the case falls within the lead reinsurer limits described below, THE COMPANY may submit these cases to THE REINSURER. THE REINSURER will be the lead reinsurer for the pool with respect to underwriting. THE REINSURER will promptly examine the case and notify THE COMPANY of the terms and conditions of a facultative offer by the pool or that an offer will not be made by the pool. For cases that fall outside the lead reinsurer limits described below, THE REINSURER also has the option of making a facultative offer that represents THE REINSURER, but not the pool. Lead reinsurer limits are the same as the automatic reinsurance limits except in the following respects: Simplified Issue:
Sample 1Sample 2Sample 3
LEAD REINSURER. For Simplified Issue and Guaranteed Issue cases where the terms for automatic reinsurance are not met, but where the case falls within the lead reinsurer limits described below, THE COMPANY may submit these cases to the Security Life of Denver Insurance Company ("SLD"). SLD will be the lead reinsurer for the pool with respect to underwriting. SLD will promptly examine the case and notify THE COMPANY of the terms and conditions of a facultative offer by the pool or that an offer will not be made by the pool. For cases that fall outside the lead reinsurer limits described below, SLD also has the option of making a facultative offer that represents SLD, but not the pool. Lead reinsurer limits are the same as the automatic reinsurance limits in except for the following respects: Simplified Issue:
Sample 1Sample 2
LEAD REINSURER. The Ceding Company retains the right to select a Lead Reinsurer for the administration of claims incurred under this Agreement. The selected Lead Reinsurer will act on behalf of all Reinsurers included in the Ceding Company's First Dollar Quota
Sample 1
LEAD REINSURER. IDSL VUL4/LP Select Treaty i
Sample 1
AutoNDA by SimpleDocs

Related to LEAD REINSURER

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to North American Re the portion of the initial risk amount in excess of its retention. Thereafter, the Ceding Company and North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • Other Reinsurance The Company shall be permitted to carry other reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

  • FACULTATIVE REINSURANCE For Facultative reinsurance, the Reinsurer’s liability will commence at the same time as the Ceding Company’s liability, provided that the Reinsurer has made a binding Facultative offer and that offer was accepted, during the lifetime of the insured, in accordance with the terms of this Agreement.

  • Reinsurance Reinsurance services including, but not limited to (i) agreement to reinsurance policy and/or contract wordings and endorsements to existing policies; (ii) processing of reinsurance policy cancellations, nonrenewals and endorsements and other amendatory addenda; (iii) collection of premiums due under reinsurance policies or contracts, audits and remittances; (iv) negotiation and purchase of reinsurance coverage; (v) administration of letters of credit and other arrangements for the provision of security; and (vi) administration of reinsurance contracts.

  • LIFE REINSURANCE The reinsurance premiums per $1000 are shown in Schedule B. Reinsurance premiums for renewals will be calculated using (1) the issue age of the insured under the policy, (2) the duration since issuance of the policy and (3) the current underwriting classification.

  • CEDING COMMISSION A. The Reinsurer shall allow the Company a provisional ceding commission of 32.0% of all Net Earned Premium ceded to the Reinsurer hereunder. The Company shall allow the Reinsurer return commission on return premiums at the same rate.

  • BUSINESS REINSURED 19 SCHEDULE B................................................................. 20

  • Reinsurance Administration THE COMPANY shall perform all duties with respect to the administration of the reinsurance under this Agreement on the portion of the policies reinsured under this Agreement.

  • Automatic Reinsurance For automatic reinsurance, the Reinsurer's liability will commence at the same time as the Ceding Company's liability, including liability under any conditional receipt or temporary insurance provision.

  • Credit for Reinsurance Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.