Assigned Risk Fund. After the retentions under paragraph (3), the amount of the underwriting loss retained by the Company for the Assigned Risk Fund will be calculated within each State as the sum of the following:
(i) For that portion of the underwriting loss amount for which the Company’s loss ratio exceeds 100 percent and is less than or equal to 160 percent, the Company shall retain an amount of the underwriting loss equal to the product of the following:
(I) Its retained net book premium;
(II) The lesser of the Company’s actual loss ratio or 160 percent, minus 100 percent; and
(III) 7.5 percent.
(ii) For that portion of the underwriting loss amount for which the Company’s loss ratio exceeds 160 percent and is less than or equal to 220 percent, the Company shall retain an amount of the underwriting loss equal to the product of the following:
(I) Its retained net book premium;
(II) The lesser of the Company’s actual loss ratio or 220 percent, minus 160 percent; and
(III) 6.0 percent.
(iii) For that portion of the underwriting loss amount for which the Company’s loss ratio exceeds 220 percent and is less than or equal to 500 percent, the Company shall retain an amount of the underwriting loss equal to the product of the following:
(I) Its retained net book premium;
(II) The lesser of the Company’s actual loss ratio or 500 percent, minus 220 percent; and
(III) 3.0 percent.
(iv) FCIC will assume 100 percent of that portion of the underwriting loss amount for which the Company’s loss ratio exceeds 500 percent.
Assigned Risk Fund. The Company may designate eligible crop insurance contracts that have an aggregate net book premium not greater than the maximum cession limits specified in this paragraph to the Assigned Risk Fund for each State. The net book premium associated with eligible crop insurance contracts for pilot programs, as solely determined by FCIC, will not count against the maximum cession limits.
a. The Company must retain the percentage of the net book premium and associated liability for ultimate net losses on eligible crop insurance contracts designated to the Assigned Risk Fund in accordance with the table in subparagraph b., except as provided in paragraph 6. The net book premium and associated liability for ultimate net losses not retained by the Company within the Assigned Risk Fund for each State will be ceded to FCIC.
b. The maximum premium cession limits to the Assigned Risk Fund and retention of ceded premium by the Company for each State are: Maximum Premium Retention of Ceded Maximum Premium Retention of Ceded State Cession Premium State Cession Premium Alabama 75% 15% Montana 75% 15% Alaska 75% 15% Nebraska 25% 25% Arizona 75% 15% Nevada 75% 15% Arkansas 50% 20% New Hampshire 75% 15% California 50% 20% New Jersey 50% 20% Colorado 75% 15% New Mexico 75% 15% Connecticut 75% 15% New York 50% 20% Delaware 50% 20% North Carolina 75% 15% Florida 50% 20% North Dakota 75% 15% Georgia 75% 15% Ohio 25% 25% Hawaii 50% 20% Oklahoma 75% 15% Idaho 50% 20% Oregon 75% 15% Illinois 25% 25% Pennsylvania 50% 20% Indiana 25% 25% Rhode Island 75% 15% Iowa 25% 25% South Carolina 75% 15% Kansas 50% 20% South Dakota 50% 20% Kentucky 50% 20% Tennessee 50% 20% Louisiana 75% 15% Texas 75% 15% Maine 75% 15% Utah 75% 15% Maryland 50% 20% Vermont 75% 15% Massachusetts 75% 15% Virginia 50% 20% Michigan 50% 20% Washington 50% 20% Minnesota 25% 25% West Virginia 75% 15% Mississippi 75% 15% Wisconsin 50% 20% Missouri 50% 20% Wyoming 75% 15%
c. Unless otherwise specified in the Agreement, in the event the aggregate net book premium for all such eligible crop insurance contracts exceeds the maximum allowable cession for any individual State, the amount ceded for each eligible crop insurance contract in such State will be reduced pro-rata to the maximum allowable cession for that State. The net book premium and associated liability for ultimate net losses that exceed the maximum allowable cession for an individual State will be placed in the appropriate Developmental Funds for that State on a...
Assigned Risk Fund. (2) Developmental Fund; or (3)
Assigned Risk Fund. The Company may designate eligible crop insurance contracts that have an aggregate net book premium not greater than the maximum cession limits specified in this paragraph to the Assigned Risk Fund for each State. The net book premium associated with eligible crop insurance contracts for pilot programs, as solely determined by FCIC, will not count against the maximum cession limits.
Assigned Risk Fund a. The Company may designate eligible crop insurance contracts, including those previously designated to a Developmental Fund, that have an aggregate net book premium not greater than the maximum cession limits specified in section II.B.1.
Assigned Risk Fund a. The Company may designate eligible crop insurance contracts, including those previously designated to a Developmental Fund, that have an aggregate net book premium not greater than the maximum cession limits specified in section II.B.1.d. to the Assigned Risk Fund for each State. The Company must retain 20 percent of the net book premium and associated liability for ultimate net losses on these designated eligible crop insurance contracts, except as provided in sections II.B.1.c. and II.B.4. The liability for ultimate net losses not retained by the Company within each State will be ceded to FCIC in exchange for an equal percentage of the associated net book premium included in the Assigned Risk Fund in that State.
b. The Company must designate eligible crop insurance contracts to the Assigned Risk Fund not later than the transaction cutoff date for the week including the 30th calendar day after the sales closing date for the eligible crop insurance contract unless:
i. FCIC determines that conditions exist that would permit the policyholder to plant crops that are alternatives to the crops listed on the application for insurance, or there are eligible crop insurance contracts transferred from the Farm Service Agency after the sales closing date. The Company may designate such alternative or transferred crop insurance contracts to the Assigned Risk Fund not later than the transaction cutoff date for the week containing the 30th calendar day after the acreage reporting date; or
ii. FCIC approves a written agreement for limited or additional coverage contracts of insurance after the sales closing date. The Company may designate such eligible crop insurance contracts to the Assigned Risk Fund not later than the transaction cutoff date for the week containing the 30th calendar day after FCIC approval.
c. Unless otherwise specified in the Agreement, in the event the aggregate net book premium for all such eligible crop insurance contracts exceeds the maximum allowable cession for any individual State, the amount ceded for each eligible crop insurance contract in such State will be reduced pro-rata to the maximum allowable cession for that State. The net book premium and associated liability for ultimate net losses that exceed the maximum allowable cession for an individual State will be placed in the appropriate Developmental Funds for that State on a pro rata basis.
d. The Assigned Risk Fund maximum cession limits for each State are: Maximum Maximum Alabama 5...
Assigned Risk Fund a. Within each individual state, the Company may designate eligible crop insurance contracts which have an aggregate net book premium not greater than the maximum cession to the Assigned Risk Fund for that state as published by FCIC in Appendix 2, Exhibit 15 to the Plan of Operation. FCIC will assume eighty percent (80%) of the liability for ultimate net losses on these designated eligible crop insurance contracts in exchange for eighty percent (80%) of the associated net book premium except as provided in paragraphs II.B.1.c. and II.B.4. The Company must retain twenty percent (20%) of the net book premium and associated liability for ultimate net losses on these designated eligible crop insurance contracts except as provided in paragraphs II.B.1.c. and II.B.4.
b. The Company must designate eligible crop insurance contracts to the Assigned Risk Fund not later than the transaction cut-off date for the week including the 30th calendar day after the sales closing date for the eligible crop insurance contract.
c. In the event the aggregate net book premium for all such eligible crop insurance contracts exceeds the maximum cession allowed for an individual state, the amount ceded for each eligible crop insurance contract in such state will be reduced pro-rata to the maximum cession for that state. The net book premium and associated liability for ultimate net losses which exceeds the maximum cession for an individual state will be placed in the Developmental Fund.
d. Eligible group risk plan crop insurance contracts which are included in the Company's book of business for the 1995 crop year under this Agreement may be designated to the Assigned Risk Fund in excess of the Company's maximum cession permitted under paragraph II.B.1.
