Policy Changes. 9 a. NOTICE...............................................................9 b. INCREASES............................................................9 c.
Policy Changes. A. The Ceding Company shall notify the Reinsurer of all policy terminations and changes that affect the reinsurance. Unearned reinsurance premiums on such terminations or changes shall be refunded.
Policy Changes. B. The termination shall become effective on the date specified in the written notice, but not less than after written notice is given.
Policy Changes. “Policy changes” refers to the variety of actions that may be made to a policy after issue. These actions include, but are not limited to, replacements, changes in plans, a change in the face amount of the policy or the addition of a covered rider. If there is a change to the reinsurance on a Reinsured Policy, the Company will inform the Reinsurer in the subsequent Changes and Terminations Report specified in Exhibit F. Except as provided in this Article, whenever a Reinsured Policy is changed and the Company’s underwriting guidelines do not require that full evidence of insurability be obtained, the reinsurance will remain in effect with the Reinsurer, whether the change is made before or after any cancellation of this Agreement for new business. The suicide and contestability periods applicable to the original Reinsured Policy will apply to the reissued Reinsured Policy and the duration will be measured from the effective date of the original Reinsured Policy. Whenever a Reinsured Policy is changed and the Company’s underwriting guidelines require that full evidence of insurability be obtained, and the suicide and contestability periods are based on the reissued policy date, the reinsurance will remain in effect with the Reinsurer only if the change is made before any cancellation of this Agreement for new business. Increases normally applied to existing policies where such policies were issued prior to the cancellation of the Agreement for new business will continue to be reinsured. The suicide period may be based on an earlier policy date if explicitly allowed by the Company’s underwriting guidelines. The Company will notify the Reinsurer of any changes in the underwriting guidelines, as specified in Article 15.1, Business Continuity. Policy changes to Reinsured Policies will be subject to the Reinsurer’s prior written approval, if:
Policy Changes. The Cedent must provide written notification to the Reinsurer of any program to change the original terms or conditions of the Policies which would result in an increase in liabilities of more than two percent (2%) of all Policies not later than fifteen (15) days after the change takes effect. The Reinsurer shall provide written notification to the Cedent of the Reinsurer's acceptance or rejection of the change within fifteen (15) days after receipt of notice of the change. If the Reinsurer accepts any such change then it shall (a) assume that portion of any increase in the Cedent's liability, resulting from the change, that corresponds to the reinsured portion of the Policies, and (b) receive credit for that portion of any decrease in the Cedent's liability, resulting from the change, that corresponds to the reinsured portion of the Policies. If the Reinsurer rejects any such change then its liabilities shall be determined as though no such change had occurred.
Policy Changes. If the plan, the amount of reinsurance or the premiums of a Reinsured Policy are changed, the Company will promptly inform the Reinsurer. Whenever a Reinsured Policy is changed and the Company's underwriting rules do not require that full evidence be obtained, the reinsurance will remain in effect with the Reinsurer. The suicide, contestability and recapture periods applicable to the original Reinsured Policy will apply to the reissued Reinsured Policy and the duration will be measured from the effective date of the original Reinsured Policy. Whenever any Reinsured Policy is changed and the Company's underwriting rules require that full evidence be obtained, the change will be subject to the Reinsurer's approval, if:
Policy Changes. Neither the Company nor the Reinsurer shall make any changes to the Company’s policy forms except with the express written consent of the other party (which consent shall not be unreasonably withheld) or if (a) the changes are required by Applicable Law and (b) the Reinsurer gives the Company prior notice in writing of the nature of such required changes in the manner provided by the NY Administrative Services Agreement.
Policy Changes. (Continued)
Policy Changes. (a) The Ceding Company shall not, without the prior written consent of the Reinsurer, terminate, amend, modify or waive any provision or provisions of the Reinsured Policies, except to the extent required by applicable Law or the express terms of the Reinsured Policies.
Policy Changes. The College shall make any and all necessary changes in its policy, procedure and practice necessary to be consistent with the terms and conditions of this Agreement.
