Common use of Reinsurance Clause in Contracts

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 o 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. EXHIBIT 1.E

Appears in 4 contracts

Samples: Contract #0000000000000000000032139, Contract #0000000000000000000032137, Contract #0000000000000000000032136

AutoNDA by SimpleDocs

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 of reinsurance policies to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective. Agreements and Coverage o 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 amend 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. EXHIBIT 1.Eo The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).

Appears in 3 contracts

Samples: Professional Services Contract Contract, Professional Services Contract Contract #0000000000000000000051705, Professional Services Contract Contract #0000000000000000000051704

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 of reinsurance policies to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective. Agreements and Coverage o 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 amend 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. EXHIBIT 1.E.

Appears in 3 contracts

Samples: Contract, Contract #0000000000000000000051704, Contract #0000000000000000000051705

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 o 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 shall 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 shall receive approval from OMPP before changing the attachment point. EXHIBIT 1.Eo The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).

Appears in 3 contracts

Samples: Contract #0000000000000000000018315, Contract #, Contract #0000000000000000000018314

AutoNDA by SimpleDocs

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 of reinsurance policies to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective. Agreements and Coverage o 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 amend 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. EXHIBIT 1.Eo The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).

Appears in 1 contract

Samples: Professional Services Contract Contract #0000000000000000000051704

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