FOLLOW THE FORTUNES definition

FOLLOW THE FORTUNES. The reinsurance provided by the terms of this Agreement shall be subject to the same terms and conditions under which the original insurance was concluded, or which may be or may have been agreed to during the term of the original insurance contract.
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FOLLOW THE FORTUNES. The Reinsurer's liability shall attach simultaneously with that of the Company and shall be subject in all respects to the same risks, terms, conditions, interpretations, waivers and to the same modifications, alterations, and cancellations as the respective policies issued by the Company, the true intent of this Agreement being that the Reinsurer shall, in every case to which this Agreement applies, follow the fortunes of the Company, subject in all cases to the limits, exclusions, terms and conditions set forth in this Agreement. TERRITORY In respect of primary business written by the Company, this Agreement shall apply to policies issued in New York, New Jersey, Pennsylvania and Connecticut. To the extent that the Company becomes authorized to transact insurance in any jurisdiction in addition to those set forth above, the Company may request that the Reinsurer amend this Agreement to include policies issued in such jurisdictions. With respect to policies issued in New Jersey, Pennsylvania and Connecticut, the maximum overall New Written Premium that may be ceded by the Company to this Agreement shall be 10% of Net Written Premium in the aggregate for these states (the "Premium Cap"). To the extent that the Company's overall Net Written Premium for these states collectively exceeds the Premium Cap in any such jurisdiction, the Cession Percentage for these states shall be reduced by dividing 10% (ten percent) of Net Written Premium by the actual percentage of Net Written Premium and multiplying that result by the Cession Percentage elected in the Coverage section.
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FOLLOW THE FORTUNES. The reinsurance provided by the terms of this Pooling Agreement shall be subject to the same risks, terms and conditions under which the original policies and contracts for Traditional Insurance Business were written, or which may be or may have been agreed to during the term of the original insurance policy or contract, the intent of this Agreement being that the Pooled Companies shall, in every case to which this Agreement applies and in the proportions specified herein, follow the underwriting fortunes of one another in respect of the risk that has been written.
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Examples of FOLLOW THE FORTUNES in a sentence

  • THE PRINCIPLE OF UBERIMAE FIDES AND THE FOLLOW THE FORTUNES DOCTRINEIt is well established that reinsurers are held to a duty of utmost good faith in their handling of claims submitted by a cedant.

  • The strong correlation (close to minus one) between standard MFP growth and output price changes requires only the assumption that the prices of capital and labour inputs are invariant to or uncorrelated with MFP growth; it does not require the assumption that the price of intermediate inputs is invariant to MFP growth.

  • ARTICLE TEN -- FOLLOW THE FORTUNES It is agreed that any reinsurance afforded hereunder is subject to the terms and conditions of the Policy or Policies and automatically follows all changes in coverage and all endorsements made a part of such Policy or Policies, or any of the COMPANY'S evidences of liability subject to the other terms and conditions of this Agreement, as set forth herein.

  • FOLLOW THE FORTUNES Retrocessionaire shall be liable for one hundred percent (100%) of all future loss, loss adjustment expenses, incurred but not reported losses and other payment obligations as incurred by Retrocedant under the Reinsurance Contracts on and after the Effective Date.

  • ARTICLE 10 FOLLOW THE FORTUNES 10.1 The Retrocessionaire's liability under this Agreement shall be subject in all respects to the terms and conditions of the Assumed Reinsurance Contracts, it being the intent of this Agreement that at all times the Retrocessionaire shall follow the fortunes of the Company under the Assumed Reinsurance Contacts.

  • LOSS AND LOSS EXPENSE; SALVAGE AND SUBROGATION; FOLLOW THE FORTUNES Retrocessionaire shall be liable for one hundred percent (100%) of all future loss, loss adjustment expenses, incurred but not reported losses and other payment obligations as incurred by Retrocedant under the Reinsurance Contracts on and after the Effective Date.

Related to FOLLOW THE FORTUNES

  • TMA means the Taxes Management Xxx 0000;

  • Special categories of personal data means information about an individual's racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, health, sex life or sexual orientation and biometric data.

  • Investment Client means (i) any investment company registered as such under the Investment Company Act, any series thereof, or any component of such series for which the Adviser acts as investment adviser; or (ii) any private account for which the Adviser acts as investment adviser.

  • RMC shall have the meaning provided in Section 3.2.

  • Quality Assurance Program means the overall quality program and associated activities including the Department’s Quality Assurance, Design-Builder Quality Control, the Contract’s quality requirements for design and construction to assure compliance with Department Specifications and procedures.

  • third-country national means any person who is not a citizen of the Union within the meaning of Article 17(1) of the Treaty;

  • Benchmarks mean the performance milestones that are set forth in Appendix D.

  • Training manager means the individual responsible for administering a training program and monitoring the performance of principal instructors and guest instructors.

  • Additional Business Centre(s means the city or cities specified as such in the relevant Final Terms;

  • Investment Company Client means any Investment Company (or series thereof ) as to which the Firm is an investment adviser or investment sub-adviser.

  • Surgical procedure means a procedure that is performed

  • CME Term SOFR Administrator means CME Group Benchmark Administration Limited as administrator of the forward-looking term Secured Overnight Financing Rate (SOFR) (or a successor administrator).