Ceding Commissions definition

Ceding Commissions shall have the meaning specified in Schedule A — Part I.
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Ceding Commissions. Any amounts paid to the Cedents by MSRE to cover the Cedent’s acquisition costs and overhead expenses, taxes, licenses, and fees, including, when applicable, a fee representing a share of expected profits. Ceding Commissions are often expressed as a percentage of the gross reinsurance premium. Master Services Agreement (Redacted) “claims made basis” The method for determining whether coverage is or is not available for a specific claim under an Original Policy or a reinsurance agreement. Claim coverage under a claims made basis Original Policy provides that the insurance/reinsurance company is responsible for the payment of the claim during the period that the Original Policy is in effect, up to the limits of the Original Policy coverage, for the claims presented regardless of when the event occurred that caused the claim to be submitted by the Insured. The basis for paying claims generally is stated in the Original Policy. “claims occurrence basis” The method for determining whether coverage is or is not available for a specific claim under an Original Policy or a reinsurance agreement. Claim coverage under a claims occurrence basis Original Policy provides that, if a claim occurs during the period when the Original Policy is in force, the insurance/reinsurance company is responsible for the payment of the claim that occurs, up to the limits of the Original Policy coverage, regardless of when the claim is submitted by the Insured. The basis for paying claims generally is stated in the Original Policy.
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Ceding Commissions means the aggregate of the ceding commissions provided for under the Indemnity Reinsurance Agreements.
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Examples of Ceding Commissions in a sentence

  • Retrocedant Ceding Commissions shall also include all underwriting fees and other costs and expenses paid by Retrocedant pursuant to the Underwriting Management Agreement between Retrocedant and Retrocessionaire, dated as of the date hereof, and all underwriting and other expenses incurred by Retrocedant on or after the Effective Date with respect to the liabilities transferred hereunder, as determined in accordance with Retrocedant's customary practices and procedures.

  • The Ceding Company shall debit the Funds Withheld Account as of November 1st of the preceding Coverage Year for all Ceding Commissions.

  • Net Earned Premiums Gross Premium Receivable, Net of Ceding Commissions Roll Forward Gains or losses due to foreign exchange rate changes relate to installment premium receivables denominated in currencies other than the U.S. dollar.

  • The party asserting the right of offset may exercise such right any time whether the balances due are on account of Reinsurance Premiums, Ceding Commissions, Ultimate Net Losses or otherwise.

  • Rollforward of Deferred Ceding Commissions, Net of DAC(1) ____________________(1)The balances are included in other liabilities on the consolidated balance sheets.

  • Retrocedant Ceding Commissions shall also include all underwriting fees and other costs and expenses paid by Retrocedant pursuant to the Agency Agreement between Retrocedant and Platinum Re (UK) Limited, dated as of the date hereof, and all underwriting and other expenses incurred by Retrocedant on or after the Effective Date with respect to the liabilities transferred hereunder, as determined in accordance with Retrocedant's customary practices and procedures.

  • The Special Return Premium shall be equal to the result of subtracting the product of X% of ceded Subject Ultimate Net Loss from the result of aggregate Reinsurance Premiums less Ceding Commissions due hereon less the portion of Reinsurer's Margin due as of January 1, 2001.

  • To the extent any Premiums are collected directly by a Company, such Company shall so advise the Reinsurer and shall promptly remit them to the Reinsurer, net of any Ceding Commissions which shall be retained by such Company.

  • The Special Return Premium shall equal the result of subtracting: a) the product of X% of ceded Subject Ultimate Net Loss, from b) the result of aggregate Reinsurance Premiums less Ceding Commissions due hereon less the Initial Reinsurance Margin, less the Additional Reinsurance Margin.

  • Notwithstanding any other provision of this Retrocession Agreement to the contrary, Ceding Commissions, Renewal Commissions and Profit-Sharing Commissions shall be paid by Retrocessionaire to Retrocedent only with respect to the premiums relating to the Reinsured Contracts for periods after the Effective Date that have been collected in cash by Retrocessionaire.


More Definitions of Ceding Commissions

Ceding Commissions means the ceding commissions allowed to Sellers under the terms of the Coinsurance Agreements, which shall consist of a total of $778,491,000 for the ALIAC Coinsurance Agreement and the ALIAC (NY) Coinsurance Agreement (such amount to be allocated between such agreements prior to their execution), a total of $89,034,000 for the Modified Coinsurance Agreement and NY Modified Coinsurance Agreement (such amount to be allocated between such agreements prior to their execution), and a total of $33,500,000 for the XXXX Coinsurance Agreement and the XXXX (NY) Coinsurance Agreement (such amount to be allocated between such agreements prior to their execution).
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Ceding Commissions means the Ceding Commissions payable to HSB pursuant to Article VII of the Agreement.
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Related to Ceding Commissions

  • Ceding Commission shall have the meaning specified in Section 5.2.

  • Leasing Commissions means leasing commissions incurred by Borrower in connection with leasing any Mortgaged Property or any portion thereof (including renewals of existing Leases).

  • Selling Commissions means any and all commissions payable to underwriters, dealer managers or other broker-dealers in connection with the sale of Shares, including, without limitation, commissions payable to the Dealer Manager.

  • Selling Commission means three percent (3%) of the gross proceeds of Shares sold pursuant to this Agreement, or as otherwise agreed between the Company and the Agent with respect to any Shares sold pursuant to this Agreement.

  • Ceding Company has the meaning set forth in the preamble.

  • Planning Commission means the City’s Planning Commission.

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

  • 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.

  • Reinsurer has the meaning set forth in the preamble.

  • 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;

  • Securities Commissions means collectively, the applicable securities commission or securities regulatory authority in each of the Qualifying Jurisdictions;

  • 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.

  • Joint Commission means the accrediting body whose standards are referred to in these Bylaws.

  • Redevelopment Commission means the Fishers Redevelopment Commission.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.

  • City Commission means the legislative body of the City of Miami.

  • 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.

  • Nuclear Regulatory Commission (NRC) means the U.S. Nuclear Regulatory Commission or its duly authorized representatives.

  • Commitment Commission shall have the meaning provided in Section 3.01(a).

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

  • County commission means the board of county commissioners of the county.

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;