SHARE PARTICIPATION. The aggregate quota share cession shall be at the option of the Company and subject to a maximum of 70%. However, the maximum cession will be limited to $80,000,000 of new written premium (ie.not including in-force cession from December 31st, 2001) for the calendar year 2002. In the event this produces more than $80,000,000 for the calendar year, the dollar amount of cessions shall be reduced to $80,000,000 plus the cession of in-force business from December 31st, 2001. The average quota share percent applicable for the Company shall be the ratio of the adjusted dollar cession to the gross subject written premium for the Company for that year. Each quarter shall be adjusted by an equal pro-rata percent to produce the dollar cession applicable. This limit can be increased by mutual agreement between the Reinsurer and the Company. The Company shall notify the Reinsurer prior to the last day of the calendar quarter of the quota share percent for that quarter. That percent shall also apply to the in-force business at the beginning of the quarter. It is agreed that the cession for any one quarter, including the change in in-force, shall not exceed 35% of the total cession for the calendar year. In the event the declared percent cession for a calendar quarter produces premiums in excess of 35% of the premium ceded for the calendar year the cessions for that quarter shall be adjusted to the dollar amount that would equal 35% of the premium ceded for the year. The Reinsurer's liability for aggregate losses, including allocated loss adjustment expenses (and unallocated loss adjustment expenses where applicable under REPORTS AND ACOCUNTING), shall be limited to 97% of earned premium ceded for all business from January 1st, 2002 to the calculation date.
SHARE PARTICIPATION. The aggregate quota share cession shall be at the option of the Company and subject to a maximum of 60% for the year 2002. However, the maximum cession will be limited to $10,000,000 of written premium. In the event the quota share percent selected by the Company produces more than $10,000,000 for the calendar year, the dollar amount of written premium ceded shall be reduced to $10,000,000. This limit can be increased by mutual agreement between the Reinsurer and the Company. The Company shall notify the Reinsurer prior to the last day of the calendar quarter of the quota share percent for that quarter. It is agreed that the cession for any one quarter, shall not exceed 40% of the total cession for the calendar year. In the event the declared percent cession for a calendar quarter produces premiums in excess of 40% of the premium ceded for the calendar year the cessions for that quarter shall be adjusted to the dollar amount that would equal 40% of the premium ceded for the year. The Reinsurer's liability for aggregate losses, including allocated loss adjustment expenses (and unallocated loss adjustment expenses where applicable under REPORTS AND ACCOUNTING), shall be limited to 97% of earned premium ceded for all business from January 1st, 2002 to the calculation date.
SHARE PARTICIPATION. The Company shall cede and the Reinsurer shall accept 10% of the Company's net retained liability from each policy covered hereunder for each loss or annual aggregate where applicable. However, the Reinsurers' share of the Company's net liability shall not be more than 10% of $1,000,000 each covered policy for each claim or annual aggregate where applicable. In the event that a loss covered hereunder involves more than one of the Company's policies, this Agreement shall provide coverage for each and every policy in such loss. In addition, as respects each loss, the Reinsurer agrees to pay a 10% quota share of up to $1,000,000 of any Excess of Original Policy Limit (as provided for in Article 10); and, in addition as respects for each loss, the Reinsurer agrees to pay a 10% quota share of up to $1,000,000 of any Extra Contractual Obligation (as provided for in Article 11).
SHARE PARTICIPATION. 1. The Reassured shall cede and the Reinsurer shall accept 50% of the Reassured's net liability in written premium in any one contract year on risks under all policies covered hereunder.
SHARE PARTICIPATION. The Quota Share Percentage for Policies attaching during Underwriting Year 2002 for Coast National and Security National, shall be 28%. The Quota Share Percentage for Policies attaching during Underwriting Year 2002 for Bristol shall be 80%. The Company has the option to cede from 25% to 60% for Policies attaching during the Underwriting Years 2003 and 2004. The Company shall notify the Reinsurer of the actual percentage, in writing, no later then 30 Business Days before January 1st, of each Underwriting Year. In the event the Company fails to notify the Reinsurer, as provided herein, the Quota Share Percentage shall be 25%.
SHARE PARTICIPATION. The Company shall cede and the Reinsurer shall accept 10% of the Company's net retained liability from each policy covered hereunder for each loss or annual aggregate where applicable. However, the Reinsurers' share of the Company's net liability shall not be more than 10% of each covered policy for each claim or annual aggregate where applicable. In the event that a loss covered hereunder involves more than one of the Company's policies, this Agreement shall provide coverage for each and every policy in such loss.
SHARE PARTICIPATION. 5 ARTICLE 6
SHARE PARTICIPATION. A. With respect to a Loss that arises under Business Covered under this Contract, the Reinsurer shall be liable to, reinsure, and indemnify the Reassured for a fifty percent (50%) quota share of:
SHARE PARTICIPATION. As respects Private Passenger and Commercial Automobile Liability, the Company shall cede and the Reinsurer shall accept sixty percent (60%) of the Company's net liability on loss occurrences under all policies covered hereunder. As respects Private Passenger and Commercial Automobile Physical Damage, the Company shall cede and the Reinsurer shall accept sixty percent (60%) of the Company's net liability on each vehicle under all policies covered hereunder.
SHARE PARTICIPATION. The Company shall cede and the Reinsurer shall accept 10% of the Company's net retained liability from each policy covered hereunder for each loss or annual aggregate where applicable. However, the Reinsurers' share of the Company's net liability shall not be more than 10% of $1,000,000 each covered policy for each claim or annual aggregate where applicable. In the event that a loss covered hereunder involves more than one of the Company's policies, this Agreement shall provide coverage for each and every policy in such loss. In addition, as respects each loss, the Reinsurer agrees to pay a 10% quota share of up to $1,000,000 of any Excess of Original Policy Limit (as provided for in Article 10); and, in addition as respects each loss, the Reinsurer agrees to pay a 10% quota share of up to $1,000,000 of any Extra Contractual Obligation (as provided for in Article 11). Accountants Professional Liability AmerInst - Bermuda at January 1, 2002 Page 2 of 14
