Common use of Facultative Application For Reinsurance Clause in Contracts

Facultative Application For Reinsurance. When facultative reinsurance is being applied for, THE COMPANY shall complete a Reinsurance Application Form provided by OPTIMUM RE (SCHEDULE E, PART 1) and send it along with any and all information it has on the risk; including specifically but not limited to, copies of the physicians’ statements, inspection reports, and other papers bearing on the insurability of the risk, even if this information is received after the final assessment of the risk. THE COMPANY shall clearly indicate the amount of risk it wishes to reinsure, including any benefit. Upon completion of underwriting, OPTIMUM RE shall promptly notify THE COMPANY of its decision and classification of the risk. Any offer made by OPTIMUM RE will be valid for 90 days unless OPTIMUM RE accepts, in writing, a request to extend this period.

Facultative Application For Reinsurance. When facultative reinsurance is being applied for, THE COMPANY shall complete a Reinsurance Application Form provided by OPTIMUM RE (SCHEDULE E, PART 1) and send it along with any and all information it has on the risk; including specifically but not limited to, copies of the physicians’ ' statements, inspection reports, and other papers bearing on the insurability of the risk, even if this information is received after the final assessment of the risk. THE COMPANY shall clearly indicate the amount of risk it wishes to reinsure, including any benefitriders and/or supplementary benefits. Upon completion of underwriting, OPTIMUM RE shall promptly notify THE COMPANY of its decision and classification of the risk. Any offer made by OPTIMUM RE will be valid for 90 days one hundred and twenty (120) calendar days, unless OPTIMUM RE accepts, in writing, accepts a written request to extend this the offer period.

Facultative Application For Reinsurance. When facultative reinsurance is being applied for, THE COMPANY shall complete a Reinsurance Application Form provided by OPTIMUM RE (SCHEDULE EF, PART 1) and send it along with any and all information it has on the risk; including specifically but not limited to, copies of the physicians’ ' statements, inspection reports, and other papers bearing on the insurability of the risk, even if this information is received after the final assessment of the risk. THE COMPANY shall clearly indicate the amount of risk it wishes to reinsure, including any benefit. Upon completion of underwriting, OPTIMUM RE shall promptly notify THE COMPANY of its decision and classification of the risk. Any offer made by OPTIMUM RE will be valid for 90 days unless OPTIMUM RE accepts, in writing, a request to extend this period.

Facultative Application For Reinsurance. When facultative reinsurance is being applied for, THE COMPANY shall complete a Reinsurance Application Form provided by OPTIMUM RE INVESTORS HERITAGE (SCHEDULE E, PART 1) and send it along with any and all information it has on the risk; including specifically but not limited to, copies of the physicians’ statements, inspection reports, and other papers bearing on the insurability of the risk, even if this information is received after the final assessment of the risk. THE COMPANY shall clearly indicate the amount of risk it wishes to reinsure, including any benefit. Upon completion of underwriting, OPTIMUM RE INVESTORS HERITAGE shall promptly notify THE COMPANY of its decision and classification of the risk. Any offer made by OPTIMUM RE INVESTORS HERITAGE will be valid for 90 days unless OPTIMUM RE INVESTORS HERITAGE accepts, in writing, a request to extend this period.