Business Reinsured definition

Business Reinsured shall have the meaning set forth in Section 3.01. “Ceding Commission” means [REDACTED]. ]
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Business Reinsured shall have the meaning set forth in Section 3.01. “Ceding Company” shall have the meaning set forth in Section 2.01. [REDACTED]
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Business Reinsured means the reinsurance which falls within the scope of this Agreement as defined in Clause 3 and set out in Schedule 1 and Schedule 2;
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Examples of Business Reinsured in a sentence

  • From and after the Effective Date, the Ceding Company shall establish Non-Guaranteed Elements for the Business Reinsured in accordance with the Non-Guaranteed Element Policy.

  • The Ceding Company may, at its sole discretion, amend, substitute, add or delete funds to the contracts underlying the Business Reinsured.

  • Certain types of Business Reinsured under this Agreement provide the contractholder or annuitant settlement options that include the deposit of contract proceeds into a retained asset account with the Ceding Company.

  • The Reinsurer may make recommendations to the Ceding Company and the Ceding Company shall fully consider such recommendations and shall not unreasonably reject any such recommendations that comply with the terms of the Business Reinsured, applicable law and applicable Actuarial Standards of Practice, however, the Ceding Company shall retain the ultimate authority to establish Non-Guaranteed Elements in accordance with the Non-Guaranteed Element Policy.

  • The Reinsurer shall owe to the Ceding Company an initial modified coinsurance adjustment (the “Initial Modified Coinsurance Adjustment”) equal to the sum of the Net Statutory Reserve as of the Effective Date for each of the types of General Account Modified Coinsurance Business, each multiplied by the applicable Quota Share for the type of Business Reinsured.

  • This Agreement shall be effective as of October 1, 2021 (the “Effective Date”) and shall remain in force hereunder until the earlier of (a) the date on which the Ceding Company’s liability for all Business Reinsured terminates; and (b) the Recapture Effective Date, provided that the Terminal Cash Settlement has been made.

  • If the Reinsurer does not reject the proposed change, the Reinsurer will share, in accordance with its applicable Quota Share, in the increase or decrease in liability as a result of the change in the Business Reinsured.

  • The Ceding Company shall maintain all Books and Records that relate to this Agreement and the Business Reinsured in accordance with industry standards of insurance record keeping, and shall maintain an adequate system of internal controls and procedures for financial reporting relating to the Business Reinsured.

  • On the Closing Date, the Ceding Company shall establish the General Account Portfolios and the [REDACTED] for the Business Reinsured and will transfer assets thereto in accordance with Article 5.

  • The Ceding Company shall notify the Reinsurer not less than [REDACTED] days prior to the proposed effective date of any material amendment or modification to any of the contracts underlying the Business Reinsured.


More Definitions of Business Reinsured

Business Reinsured. New and renewal business written or renewed by or on behalf of the Company by various issuing carriers, on business classified by the Company as Private Passenger Automobile Liability business. ACCOUNT BASIS: Underwriting Year. XXX XXXXXXXXX Page: 2 of 18 File #: 8958-00-0002-00 Effective Date: January 1, 2004 Issue Date: COVER: In respect of cessions to this Contract, the Reinsurer will be liable in respect of each and every loss, each and every policy, each and every coverage, for the ultimate net loss (including extra contractual obligations) in excess of the applicable compulsory and/or financial responsibility primary automobile liability limits which are further subject to the following minimum limits: Automobile Bodily Injury Liability $10,000 per person/ $20,000 per occurrence Property Damage Liability $5,000 per occurrence Uninsured/Underinsured Motorists $10,000 per person/ Bodily Injury Liability $20,000 per occurrence Uninsured/Underinsured Motorists $5,000 per occurrence Property Damage Liability Personal Injury Protection Statutory Coverages Medical Payments $10,000 per person The Reinsurers limit of liability will be the difference between the applicable compulsory and/or financial responsibility or minimum primary automobile liability limits as referenced above and the actual Policy limits as respects each and every loss, each and every Policy, each and every coverage, subject to maximum Policy limits as follows: Automobile Bodily Injury Liability $100,000 per person/ $300,000 per occurrence Property Damage Liability $100,000 per occurrence Uninsured/Underinsured Motorists $100,000 per person/ Bodily Injury Liability $300,000 per occurrence XXX XXXXXXXXX Page: 3 of 18 File #: 8958-00-0002-00 Effective Date: January 1, 2004 Issue Date: COVER (CONT'D): Uninsured/Underinsured Motorists $100,000 per occurrence Property Damage Liability Personal Injury Protection Statutory Coverages Medical Payments $10,000 per person COMMENCEMENT AND TERMINATION:
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Business Reinsured. In force, new and renewal business classified ARTICLE 1 by the Company as Non-Standard Private Passenger Automobile Liability and/or Physical Damage. ACCOUNT BASIS: Losses Occurring COVER: 30% Quota Share ARTICLE 2 Maximum original Policy limits: Bodily injury/per person $10,000 Bodily Injury/per occurrence $20,000 Property Damage $10,000 Automobile Physical Damage (ACV) $30,000 Personal Injury Protection Statutory $10,000 (Maximum Deductible $2,000) Uninsured Motorist same as Bodily Injury Coverage provided hereunder is subject to a maximum recoverable of $1,000,000 any one Loss Occurrence.
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Business Reinsured means all agreements of assumed reinsurance (a) entered into by the Ceding Company, that (i) first become effective within the Underwriting Period and (ii) have a term of less than twenty-four (24) months, and (b) that are traditional short-tail business classified by the Ceding Company as business constituting one or more of the following business lines:
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Business Reinsured hereunder is defined to mean:
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Related to Business Reinsured

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Reinsurers shall be understood to mean “Reinsurers”, “Underwriters” or whatever other term is used in the attached reinsurance document to designate the reinsurer or reinsurers.

  • Financial Services Business for purposes of this Unit Agreement shall mean the business of banking, including deposit, credit, trust and investment services, mortgage banking, asset management, and brokerage and investment banking services. (C) The term "Managerial Responsibilities" for purposes of this Unit Agreement shall mean managerial and supervisory responsibilities and duties that are substantially the same as that Grantee is performing for SunTrust or a SunTrust Affiliate on the date of this Unit Agreement. (D) The term "SunTrust Affiliate" for purposes of this Unit Agreement shall mean any corporation which is a subsidiary corporation (within the meaning of §424(f) of the Code) of SunTrust except a corporation which has subsidiary corporation status under §424(f) of the Code exclusively as a result of SunTrust or a SunTrust Affiliate holding stock in such corporation as a fiduciary with respect to any trust, estate, conservatorship, guardianship or agency. (E) The term "Territory" for purposes of this Unit Agreement shall mean the states of Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia, which are the states and Territories in which SunTrust has significant operations on the date of this Unit Agreement. (F) "Trade Secret" for purposes of Unit Agreement shall mean information, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers or suppliers that: (i) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from it is disclosure or use, and (ii) is the subject of reasonable efforts by SunTrust or a SunTrust Affiliate to maintain its secrecy.

  • Reinsurance Agreement means any agreement, contract, treaty or other arrangement whereby one or more insurers, as reinsurers, assume liabilities under insurance policies or agreements issued by another insurance or reinsurance company or companies.

  • Business Rules means the business rules established by JSCC regarding its Financial Instruments Obligation Assumption Service for CDS Transactions, as amended, if applicable.

  • Comprehensive means an assistance program that focuses on

  • Insured means the Executive.

  • Comprehensive agreement means the comprehensive agreement between the private entity and the responsible public entity that is required prior to the development or operation of a qualifying project.

  • Reinsurance Agreements means any agreement, contract, treaty, certificate or other arrangement by which any Insurance Subsidiary agrees to transfer or cede to another insurer all or part of the liability assumed or assets held by it under one or more insurance, annuity, reinsurance or retrocession policies, agreements, contracts, treaties, certificates or similar arrangements. Reinsurance Agreements shall include, but not be limited to, any agreement, contract, treaty, certificate or other arrangement that is treated as such by the applicable Department.

  • Comprehensive Plan means the City's Comprehensive Land Use Plan and its implementing Ordinances, policies and development standards.

  • Reinsured Policies has the meaning assigned to it in the Reinsurance Agreement.

  • Company Insurance Policies has the meaning set forth in Section 3.14.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • general insurance business means any class of insurance business other than long-term insurance business;

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Business Relation means any current or prospective client, customer, licensee, or other business relation of the Company Group, or any such relation that was a client, customer, licensee, supplier, or other business relation within the six (6) month period prior to the expiration of the Employment Period, in each case, to whom I provided services, or with whom I transacted business, or whose identity became known to me in connection with my relationship with or employment by the Company.

  • Reinsurer has the meaning set forth in the preamble.

  • Insurance Subsidiaries means, collectively, MGMM Insurance Company, a Nevada corporation and any Subsidiaries formed for the purpose of facilitating and providing insurance coverage and claims services for the Company and its Subsidiaries.

  • Reinsurance intermediary means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

  • Business Records means all files, documents, instruments, papers, books, reports, records, tapes, microfilms, photographs, letters, ledgers, journals, financial statements, technical documentation (design specifications, functional requirements, operating instructions, logic manuals, flow charts, etc.), user documentation (installation guides, user manuals, training materials, release notes, working papers, etc.), Tax Returns, other Tax work papers and files and other documents in whatever form, physical, electronic or otherwise.

  • Reinsured Liabilities means the General Account Liabilities and the Separate Account Liabilities.

  • Material Insurance Subsidiary means any Insurance Subsidiary that is a Material Subsidiary.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Covered Business means (A) during the term, any business in which the Company is engaged and (B) after the Term, any business in which the Company was engaged as of the end of the Term.

  • Insured Contract means any written: