Run-off premium Sample Clauses

Run-off premium. If a Firm ceases to carry on a Practice during the course of any Indemnity Period in circumstances where the Assigned Risks Pool is required to provide run-off cover in respect of that Firm under the terms of an ARP Policy issued to that Firm, no return premium shall be payable to that Firm in respect of that ARP Policy. In addition, in such circumstances the Firm shall be required to pay to the Assigned Risks Pool an additional premium equal to: • 12/13 of the full annual ARP Premium (or, if applicable, the full annual ARP Default Premium) payable by that Firm in respect of the last Indemnity Period in respect of which the Firm was liable to pay such premium, where such Indemnity Period was the period from 1 September 2003 to 30 September 2004; or • 100 per cent of the full annual ARP premium (or, if applicable, the full annual ARP Default Premium) payable by that Firm in respect of the last Indemnity Period in respect of which the Firm was liable to pay such premium, in the case of any other Indemnity Period. Such additional premium shall be payable to the ARP Manager within 30 days of such premium being notified to the Firm by the ARP Manager.
Sample 1Sample 2
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Run-off premium. If an insured firm ceases to carry on a practice during the course of any indemnity period in circumstances where the ARP is required to provide run-off cover in respect of that insured firm under the terms of an ARP policy issued to that insured firm, no return premium shall be payable to that insured firm in respect of that ARP policy. In addition, in such circumstances the insured firm and every principal of that insured firm (including, for these purposes, every person held out as a partner of a sole practitioner) shall be required to pay to the ARP an additional premium equal to: • 12/13 of the full annual ARP premium (or, if applicable, the full annual ARP default premium) (and, for the avoidance of doubt, prior to any reduction applied under paragraph 1.7 above) payable in respect of that insured firm in relation to the last indemnity period for which such premium was payable, where such indemnity period was the period from 1 September 2003 to 30 September 2004; or • 100 per cent of the full annual ARP premium (or, if applicable, the full annual ARP default premium) (and, for the avoidance of doubt, prior to any reduction applied under paragraph 1.7 above) payable in respect of that insured firm in relation to the last indemnity period for which such premium was payable or would have been payable had the insured firm participated in the ARP for the whole of that indemnity period, in the case of any other indemnity period. Such additional premium shall be payable to the ARP manager within 30 days of such premium being notified to the insured firm by the ARP manager.
Sample 1
Run-off premium. If an Insured Firm ceases to carry on a Practice during the course of any Indemnity Period in circumstances where the Assigned Risks Pool is required to provide run-off cover in respect of that Insured Firm under the terms of an ARP Policy issued to that Insured Firm, no return premium shall be payable to that Insured Firm in respect of that ARP Policy. In addition, in such circumstances the Insured Firm and every Principal of that Insured Firm (including, for these purposes, every person held out as a partner of a Sole Practitioner) shall be required to pay to the Assigned Risks Pool an additional premium equal to: 12/13 of the full annual ARP Premium (or, if applicable, the full annual ARP Default Premium) (and, for the avoidance of doubt, prior to any reduction applied under paragraph 1.9 above) payable in respect of that Insured Firm in relation to the last Indemnity Period for which such premium was payable, where such Indemnity Period was the period from 1 September 2003 to 30 September 2004; or 100 per cent of the full annual ARP premium (or, if applicable, the full annual ARP Default Premium) (and, for the avoidance of doubt, prior to any reduction applied under paragraph 1.9 above) payable in respect of that Insured Firm in relation to the last Indemnity Period for which such premium was payable, in the case of any other Indemnity Period. Such additional premium shall be payable to the ARP Manager within 30 days of such premium being notified to the Insured Firm by the ARP Manager.
Sample 1

Related to Run-off premium

  • Shift Premium Effective July 1, 2020, an employee shall be paid a shift premium of ninety-five cents (95c/ ) per hour for each hour worked between 1500 hours and 0700 hours provided that such hours exceed two (2) hours if worked in conjunction with the day shift.

  • Sunday Premium All hours worked by an Employee on Sunday, shall be paid for on the basis of one and one-half (1½) times the Employee’s Regular Rate of Pay. For the purpose of this Section, Sunday shall be deemed to be the twenty-four (24) hours beginning with the shift change hour nearest to 12:01 a.m.

  • Holiday Premium If an employee works one of the following holidays, they will receive time and one half for all hours worked on that holiday: New Year’s Day, Xxxxxx Xxxxxx Xxxx Xx. Day, President’s Day, Memorial Day, Independence Day, Labor Day, Veteran’s Day, Thanksgiving, the Day after Thanksgiving, and Christmas.

  • Night Shift Premium Any employee who is required to work on any day when the majority of their working hours fall between 10.00 p.m. and 5.00 a.m., or who starts their shift prior to 5.00 a.m., shall be paid a premium, in addition to their regular, hourly rate, of one dollar and twenty-five cents ($1.25) per hour for all hours worked on the shift. Shift premium pay shall not be added to an employee’s hourly rate for the purpose of computing overtime. This clause shall not result in duplication of premiums.

  • Benefits – Prepayment or Repayment of Premiums During Unpaid Portion of Leave 11.4.1 Teachers may prepay or repay benefit premiums payable during the duration of parental leave.

  • First Aid Premium First Aid Premiums shall apply when an employee is assigned by the Employer to be a First Aid Attendant on a job site and shall be paid as follows: Level II - $1.00 per hour. Level III - $2.00 per hour.

  • Night Premium For all time worked by employees, after 7 p.m. and before 7 a.m., by employees hired on or before August 5, 2005, a premium of twenty-five cents (25¢) per hour shall be paid.

  • Longevity Premium From the start of the sixty-first (61st) full month to and including the one hundred twentieth (120th) full month of continuous employment, permanent employees shall be paid a longevity premium of two percent (2%).

  • Training Premium Qualified Operators selected by the Employer to train new Operators shall be paid a training premium of 40¢ per hour while engaged in training work.

  • Holiday Premium Pay A Nurse working on a recognized Holiday is entitled to the following compensation for any hours worked on the calendar date of the recognized Holiday:

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