CONTRACT AND PROGRAM CHANGES. A. The CEDING COMPANY may amend, substitute, add or delete variable investment funds to the investment options supporting the annuity contract as described in the contract general provisions. No such change shall be made by the CEDING COMPANY without prior notification to the REINSURER and without the prior approval of the Securities and Exchange Commission (SEC), if necessary. The CEDING COMPANY agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Schedule B. B. The CEDING COMPANY shall also give the REINSURER advance notice of any other changes to its annuity product design and/or death benefit design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract forms reinsured hereunder. C. Should any such changes as stated above result in a material change in the underlying risk, the REINSURER shall have the right to modify, for that product line only, any of the terms of this Agreement in order to restore the REINSURER to its original position. D. The CEDING COMPANY agrees to provide the REINSURER with all contractholder communications as though the REINSURER was a contractholder in the State of Delaware.
Appears in 2 contracts
Samples: Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co), Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co)
CONTRACT AND PROGRAM CHANGES. A. The CEDING COMPANY may amend, substitute, add or delete variable investment funds to the investment options supporting the annuity contract as described in the contract general provisions. No such change shall will be made by the CEDING COMPANY without prior notification to the REINSURER and without the prior approval of the Securities and Exchange Commission (SEC)Commission, if necessary. The CEDING COMPANY agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Schedule B.
B. The CEDING COMPANY shall also give the REINSURER advance notice of any other changes to its annuity product design and/or death benefit design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract forms reinsured hereunder.
C. Should any such changes change as stated above result in a material change in the underlying risk, the REINSURER shall have the right to modify, for that product line only, any of the terms of this Agreement in order to restore the REINSURER to its original position. For the purposes of this Agreement, material is understood to mean a substantial variance from either the original pricing profile or the past experience on this account, that is expected to be permanent or long-lasting.
D. The CEDING COMPANY agrees to provide the REINSURER with all contractholder communications as though the REINSURER was CEDING COMPANY were a contractholder in the State of Delaware.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Travelers Fund Bd Iii for Variable Annuities)
CONTRACT AND PROGRAM CHANGES. A. The CEDING COMPANY may amend, substitute, add or delete variable investment funds to the investment options supporting the annuity contract as described in the contract general provisions. No such change shall will be made by the CEDING COMPANY without prior notification to the REINSURER and without the prior approval of the Securities and Exchange Commission (SEC)Commission, if necessary. The CEDING COMPANY agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Schedule B.
B. The CEDING COMPANY shall also give the REINSURER advance notice of any other changes to its annuity product design and/or death benefit design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract forms reinsured hereunder.
C. Should any such changes change as stated above result in a material change increase in the underlying riskreinsured net amount at risk and/or material decrease in the reinsurance premiums due on a product line, the REINSURER shall have the right to modify, for that product line only, any of the terms of this Agreement in order to restore the REINSURER to its original position.
D. The CEDING COMPANY agrees to provide the REINSURER with all contractholder communications as though the REINSURER was CEDING COMPANY were a contractholder in the State of Delaware.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co)
CONTRACT AND PROGRAM CHANGES. A. The CEDING COMPANY may amend, substitute, add or delete variable investment funds to the investment options supporting the annuity contract as described in the contract general provisions. No such change shall be made by the CEDING COMPANY without prior notification to the REINSURER and without the prior approval of the Securities and Exchange Commission (SEC), if necessary. The CEDING COMPANY agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Schedule B.
B. The CEDING COMPANY shall also give the REINSURER advance notice of any other changes to its annuity product design and/or death benefit design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract forms reinsured hereunder.
C. Should any such changes change as stated above result in a material change in the underlying risk, the REINSURER shall have the right to modify, for that product line only, any of the terms of this Agreement in order to restore the REINSURER to its original position.
D. The CEDING COMPANY agrees to provide the REINSURER with all certain contractholder communications communications, described below, as though the REINSURER was were a contractholder in the State CEDING COMPANY's state of Delawaredomicile.
1. Contract
2. Informational Mailings
3. Prospectuses
4. Prospectus Supplements
5. Annual Reports Article XVI
Appears in 1 contract
Samples: Reinsurance Agreement (Ameritas Variable Separate Account Va-2)
CONTRACT AND PROGRAM CHANGES. A. The CEDING COMPANY may amend, substitute, add or delete variable investment funds to the investment options supporting the annuity contract as described in the contract general provisions. No such change shall be made by the CEDING COMPANY without prior notification to the REINSURER and without the prior approval of the Securities and Exchange Commission (SEC), if necessary. The CEDING COMPANY agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Schedule B.
B. The CEDING COMPANY shall also give the REINSURER advance notice of any other changes to its annuity product design and/or death benefit design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract forms reinsured hereunder.
C. Should any such changes change as stated above result in a material change in the underlying risk, the REINSURER shall have the right to modify, for that product line only, any of the terms of this Agreement in order to restore the REINSURER to its original position.
D. The CEDING COMPANY agrees to provide the REINSURER with all contractholder communications as though the REINSURER was were a contractholder in the State CEDING COMPANY's state of Delawaredomicile.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Ge Capital Life Separate Account Ii)
CONTRACT AND PROGRAM CHANGES. A. The CEDING COMPANY may amend, substitute, add or delete variable investment funds to the investment options supporting the annuity contract as described in the contract general provisions. No such change shall be made by the CEDING COMPANY without prior notification to the REINSURER and without the prior approval of the Securities and Exchange Commission (SEC), if necessary. The CEDING COMPANY agrees to maintain at all times a satisfactory selection of core investment options with characteristics similar to those listed in Schedule B.
B. B. The CEDING COMPANY shall also give the REINSURER advance notice of any other changes to its annuity product design and/or death benefit design, its fees and charges, its distribution systems and/or methods, or the addition of any riders to any contract forms reinsured hereunder.
. C. Should any such changes change as stated above result in a material change in the underlying risk, the REINSURER shall have the right to modify, for that product line only, any of the terms of this Agreement in order to restore the REINSURER to its original position.
D. The CEDING COMPANY agrees to provide the REINSURER with all contractholder communications as though the REINSURER was a contractholder in the State of Delaware.
Appears in 1 contract
Samples: Reinsurance Agreement (Ameritas Variable Separate Account Va-2)