CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer's share of amounts within the conditional receipt or temporary coverage limits shown in Exhibit B - Plans Covered and Binding Limits. IDSL-NY Succession Select Treaty
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer's share of amounts within the conditional receipt or temporary coverage limits shown in Exhibit B − Plans Covered and Binding Limits. Such coverage includes temporary insurance where required by law notwithstanding any conditions or limitations contained in the conditional receipt or temporary insurance provision. For facultative reinsurance, the Reinsurer shall be liable only for benefits paid pursuant to the terms and conditions of the Ceding Company's conditional receipt or temporary insurance agreement if both of the following conditions are satisfied:
(i) The Ceding Company follows its normal facultative reinsurance placement rules in effect at the time of issue of the conditional receipt or temporary insurance agreement; and
(ii) The Reinsurer's facultative offer is final and is not contingent upon any additional underwriting requirements to be satisfied by the Ceding Company. Notwithstanding anything to the contrary in Article 2.1 above, for any application submitted for facultative consideration to any reinsurer, automatic reinsurance coverage shall be provided in accordance with the conditional receipt and temporary insurance provisions of this Article 4.3, until such time that facultative coverage with any reinsurer commences in accordance with the applicable reinsurance agreement between the Ceding Company and the reinsurer. In the event that the Ceding Company's rules with respect to cash handling and issuance of conditional receipt or temporary insurance are not followed, the Reinsurer will participate in the liability if: (1) the conditions for automatic reinsurance are met; or (2) the foregoing conditions for acceptance of the Reinsurer's facultative offer are satisfied; and the Ceding Company does not knowingly allow such rules to be violated or condone such a practice. In all cases, reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer's share of amounts within the conditional receipt or temporary coverage limits shown in Exhibit B – Plans Covered and Binding Limits and the provisions of Article 9 apply to such a claim.
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer’s share of amounts within the Conditional Receipt or Temporary Insurance Limits specified in Exhibit B. The Reinsurer will accept liability provided that the Ceding Company has followed its normal cash-with-application procedures for such coverage.
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. For automatic reinsurance, the reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer's share of amounts within the conditional receipt or temporary coverage limits shown in Exhibit B - Plans Covered and Binding Limits. For facultative reinsurance, the Reinsurer shall be liable only for benefits paid pursuant to the terms and conditions of the Ceding Company's Conditional Receipt or Temporary Insurance Agreement if both of the following conditions are satisfied:
(i) The Ceding Company follows its normal facultative reinsurance placement rules in effect at the time of issue of the Conditional Receipt or Temporary Insurance Agreement; and
(ii) The Reinsurer's facultative offer is final and is not contingent upon any additional underwriting requirements to be satisfied by the Ceding Company.
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer's share of amounts within the Conditional Receipt or Temporary Insurance Limits specified in Exhibit B. The Reinsurer will accept liability provided that the Ceding Company has followed its normal cash-with-application procedures for such coverage. REINSURED RISK AMOUNT
5.1 LIFE For policies with the level death benefit option, the net amount at risk of the policy is defined as the policy face amount less the account value. For policies with the varying death benefit option, the net amount at risk of the policy is defined as the policy face amount. The reinsured net amount at risk for automatic policies is determined by multiplying the total net amount at risk on the policy by the Reinsurer's share as defined in Exhibit B. For variable amount plans, the net amount at risk is calculated using the account value in effect at the end of monthly reinsurance billing period. The Ceding Company will maintain a quota share retention on each policy, up to the maximum limits of its retention per life for the insured's issue age and rating, as shown in Exhibit A. Risk amounts above that limit will be reinsured under the terms of this Agreement on an excess basis. Any change in the net amount at risk due to changes in the policy's cash value or account value will be shared proportionately between the Ceding Company and the Reinsurer(s).
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Reinsurance coverage under a conditional receipt or temporary insurance provision is limited to MARC's share of amounts within the Conditional Receipt or Temporary Insurance Limits specified in Exhibit B less the Ceding Company's standard retention on the policy applied for. In no event, however, shall MARC's liability on any one life, including previous reinsurances, exceed the automatic limits in Exhibit B. MARC will accept liability provided that the Ceding Company has followed its normal cash-with- application procedures for such coverage.
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Reinsurance coverage under a conditional receipt or temporary insurance provision is limited to REINSURER's share of amounts within the Conditional Receipt or Temporary Insurance Limits specified in Exhibit B less the Ceding Company's standard retention on the policy applied for. In no event, however, shall REINSURER's liability on any one life, including previous reinsurances, exceed the automatic limits in Exhibit B. REINSURER will accept liability provided that the Ceding Company has followed its normal cash-with-application procedures for such coverage.
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer’s share of amounts within the Conditional Receipt or Temporary Insurance Limits specified in Exhibit B. The Reinsurer will accept liability provided that the Ceding Company has followed its normal cash-with-application procedures for such coverage. REINSURED RISK AMOUNT
5.1 LIFE For option A policies, the net amount at risk of the policy is defined as the policy face amount less the account value. For option B policies, the net amount at risk of the policy is defined as the policy face amount. The reinsured net amount at risk for automatic policies is determined by multiplying the total net amount at risk on the policy by the Reinsurer’s share as defined in Exhibit B. For option A policies, the net amount at risk is calculated using the account value in effect at the beginning of the reinsurance billing period. The Ceding Company will maintain a quota share retention on each policy, up to the maximum limits of its retention per life for the insured’s issue age and rating, as shown in Exhibit A. Risk amounts above that limit will be reinsured under the terms of this Agreement on an excess basis. The net amount at risk and the reinsured net amount at risk for policies resulting from exercise of the Policy Split Option will be determined in the same manner. The Ceding Company’s retention on the policy will remain constant. Any change in the net amount at risk due to changes in the policy’s cash value or account value will be allocated to the reinsured amount.
5.2 WAIVER OF PREMIUM RIDER The reinsured proportion of Disability Waiver of Premium will not be greater than the proportion reinsured on the corresponding life insurance benefit.
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Reinsurance coverage under a Conditional Receipt or Temporary Insurance Agreement is limited to the Reinsurer’s share of amounts within the Conditional Receipt or Temporary Insurance Agreement specified in Exhibit B. The Reinsurer will accept liability provided that:
a. the Reinsurer has reviewed and approved the Conditional Receipt form or Temporary Insurance Agreement; and
b. the risk is eligible for Automatic reinsurance under this Agreement; or the Reinsurer has made a Facultative offer and the Ceding Company would have accepted that offer based on the allocation rules for placement of Facultative cases in Exhibit D; and
c. the Ceding Company, its agents, or representatives have followed its normal cash-with-application procedures for such coverage.
CONDITIONAL RECEIPT OR TEMPORARY INSURANCE. Automatic reinsurance coverage under a conditional receipt or temporary insurance provision is limited to the Reinsurer's share of amounts within the Conditional Receipt or Temporary Insurance Limits specified in Exhibit B. The Reinsurer will accept liability provided that the Ceding Company has followed its normal cash-with-application procedures for such coverage. For facultative applications submitted to the Reinsurer, the Reinsurer's liability under a conditional receipt or a temporary insurance agreement will begin simultaneously with the Ceding Company's contractual liability if the Reinsurer has received notice from the Ceding Company that the Reinsurer's facultative offer has been accepted. The Reinsurer's liability is limited to its share, as shown in Exhibit B, of amounts accepted within the Ceding Company's usual cash-with-application procedures for temporary coverage, up to the limits shown in Exhibit B. If the proposed insured dies prior to the completion of the underwriting process, the Reinsurer will continue underwriting the risk to determine if a facultative offer would have been made on the risk. If so, the Reinsurer will accept liability for the risk, subject to the limits specified in the paragraph above. The Reinsurer has no liability for facultative applications that the Company has not submitted to the Reinsurer.
