Covered agreement definition

Covered agreement means an agreement entered into pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, 31 U.S.C. 313 and 314, that is currently in effect or in a period of provisional application and addresses the elimination, under specified conditions, of collateral requirements as a condition for entering into any reinsurance agreement with a ceding insurer domiciled in this state or for allowing the ceding insurer to recognize credit for reinsurance.

Covered agreement has the meaning assigned to such term in Section 6.07(d).

Covered agreement means an agreement that:

Examples of Covered agreement in a sentence

• To support such information exchange, an annex to the Covered Agreement includes model provisions for a memorandum of understanding on information exchange that insurance supervisors are encouraged to adopt.

• Reinsurance features of the Covered Agreement include (see Article 3 of the Covered Agreement): • The U.S. states have 60 months (5 years) to adopt reinsurance reforms removing collateral requirements for EU reinsurers that meet the prescribed consumer protection conditions.

• Subject to certain conditions, the Covered Agreement eliminates collateral and local presence requirements for U.S. reinsurers operating in the EU insurance market, and eliminates collateral and local presence requirements for EU reinsurers operating in the U.S. insurance market, as a condition for and in connection with regulatory credit for reinsurance.

• The Covered Agreement encourages, in a non-binding manner, insurance supervisors in the United States and the EU to share information.

• As described below, a Protocol Participant may be either a principal or an agent in respect of a Protocol Covered Agreement.

More Definitions of Covered agreement

Covered agreement means any of the Exchange Agreement, the Tax Receivable Agreement, a Group Partnership Agreement, the Issuer Limited Partnership Agreement or Contribution and Indemnification Agreement.

Covered agreement means an agreement entered into pursuant to the

Covered agreement means an agreement:

Covered agreement means an agreement entered into pursuant to Dodd-Frank Wall Street Reform and Consumer Protection Act, 31 U.S.C. Sections 313 and 314, that:

Covered agreement means any of the Exchange Agreement, the Tax Receivable Agreement, the Group Partnership Agreement, the Certificate of Incorporation or Contribution and Indemnification Agreement.

Covered agreement means a financial contract within the meaning of article 2 (1) no. 100 BRRD as implemented by the applicable national law which is governed by a law other than the law of a member state of the European Union;

Covered agreement means an agreement entered