Facultative Cessions. Any re-underwriting or non-contractual increase, including any change in mortality rating shall be subject to the Reinsurer’s approval.
Facultative Cessions. The Ceding Company has the option to, in accordance with the provisions of this Article, facultatively submit to the Reinsurer any Policy that is not obligatorily ceded under the provisions of Article I; provided that the provisions of Sections A through E below are met. In addition, there is no limitation on the Ceding Company's right to submit a case facultatively to other reinsurers.
Facultative Cessions. Any changes shall be subject to the Reinsurer’s approval only if the Company is obtaining evidence in accordance with the Company’s new business underwriting rules. The Company and the Reinsurer shall agree to the applicable reinsurance terms. These practices will apply unless mutually agreed otherwise by the Company and the Reinsurer and described in the Exhibits. Increase in Amount and Underwriting Reclassification Automatic Cessions: Any underwriting reclassification, (including any change in mortality rating), or non-contractual increase in amount at risk for any cession shall be subject to the Company’s new business underwriting rules or as agreed otherwise by the Company and the Reinsurer. The amount of the increase shall be subject to the terms of this Agreement. If the amount of the policy shall increase above the Jumbo Limits (Exhibit E-III), or if the amount to be reinsured exceeds the Reinsurer’s Automatic Acceptance Limits (Exhibit E-II), the increase shall be subject to the Reinsurer’s approval.
Facultative Cessions. The Company may apply for reinsurance by sending to the Reinsurer copies of all pertinent papers, including the original application, medical examination, inspection reports, physician’s statements, urinalyses, and all other information that the Company may have relating to the insurability of the risk. The Company shall have ninety (90) days from the date of the Reinsurer’s final offer in which to place the policy with the insured/owner, after which time the Reinsurer’s offer shall expire unless the Reinsurer explicitly states in writing that the offer is extended for some further period. After consideration of the pertinent papers, the Reinsurer shall promptly inform the Company of its underwriting decision. If the underwriting decision is acceptable to the Company and the Company’s policy is subsequently placed in force in accordance with the Company’s placement rules, the Company shall advise the Reinsurer in the manner described in Exhibit F. The Company will advise the Reinsurer of its acceptance of the Reinsurer’s underwriting decision pertaining to facultative business by sending written notice to the Reinsurer. If any application to the Reinsurer is not to be placed with the Reinsurer, the Company shall advise the Reinsurer so that the Reinsurer can complete its records. For all cessions reinsured hereunder, the Company shall advise the Reinsurer as outlined in Exhibit F. Data Notification The Company shall provide the Reinsurer with the reports as set out in Exhibit F. The Company, upon request, will provide the Reinsurer with any other information related to the business reinsured under this Agreement and which the Reinsurer requires in order to complete its financial statements.
Facultative Cessions. Any re-underwriting or non-contractual increase, including any change in mortality rating shall be subject to the Reinsurer’s approval. Reductions If the amount of insurance of a policy issued by the Company is reduced then the reinsurance net amount at risk shall be reduced proportionately. The reduction shall be effective on the same date as the reduction under the original policy. If the reinsurance for a policy has been placed with more than one reinsurer, the reduction shall be applied to all reinsurers in proportion to the amounts originally reinsured with each reinsurer. If the insured has multiple policies, some which are reinsured and a fully retained policy lapses or reduces, the Company will not make any changes to the reinsured policies. Special Changes If any special or unusual change, which is not covered above and which may materially affect the terms of the cession in question, is requested, the Reinsurer’s approval shall be obtained before such a change becomes effective.
Facultative Cessions. Any changes shall be subject to the Reinsurer’s approval only if the Company is obtaining evidence in accordance with the Company’s new business underwriting rules. These practices regarding plan changes will apply unless mutually agreed otherwise by the Company and the Reinsurer.
Facultative Cessions. The Company may apply for reinsurance by sending to the Reinsurer copies of all pertinent papers, including the original application, medical examination, inspection reports, physician’s statements, urinalyses, and all other information that the Company may have relating to the insurability of the risk. After consideration of the pertinent papers, the Reinsurer shall promptly inform the Company of its underwriting decision. If the underwriting decision is acceptable to the Company and the Company’s policy is subsequently placed in force in accordance with the Company’s placement rules, the Company shall advise the Reinsurer in the manner described in Exhibit E. If any application to the Reinsurer is not to be placed with the Reinsurer, the Company shall advise the Reinsurer so that the Reinsurer can complete its records. For all cessions reinsured hereunder, the Company shall advise the Reinsurer as outlined in Exhibit E. Data Notification The Company shall self-administer all business reinsured under this Agreement using the TAI System. The Company shall provide the Reinsurer with the reports as set out in Exhibit E. The Company, upon request, will provide the Reinsurer with any other information related to the business reinsured under this Agreement and which the Reinsurer requires in order to complete its financial statements.
Facultative Cessions. Any increase in amount shall be subject to the Reinsurer’s approval. Premium rates shall be applied to the converted policy on a point-in-scale basis.
Facultative Cessions. For facultative policies, the Reinsurer's share will be determined on a case-by-case basis, subject to the terms of the Reinsurer's facultative offer.
Facultative Cessions. Any underwriting or non-contractural increase, including any change in mortality rating shall be subject to the Reinsurer's approval. REDUCTIONS If the amount of insurance of a policy issued by the Company is reduced then the amount of reinsurance on that life shall be reduced effective the same date by the lesser of the full amount or the reduction under the original policy or the full amount of the reinsurance, unless the reinsurance is a quota share of the policy issued by the company, in which case the reduction would be proportional. The reduction will first apply to any reinsurance on the policy being reduced and then in a chronological order according to policy date ("fist in, first out") to any reinsurance on the other policies in force on the life. However, the Company shall not be required to assume a risk for an amount in excess of its regular retention for the age at issue and the mortality rating of the policy under which reinsurance is being terminated. If the reinsurance for a policy has been placed with more than one reinsurer, the reduction shall be applied to all reinsurers in proportion to the amounts originally reinsured with each reinsurer. SPECIAL CHANGES If any special or unusual change, which is not covered above and which may affect the terms of the cession in question, is requested, the Reinsure's approval shall be obtained before such a change becomes effective. LAPSES When a reinsured policy lapses, the cession in question shall be cancelled effective the same date. If the Company allows extended or reduced paid-up insurance following a lapse, the reinsurance will be appropriately amended. If the Company allows the policy to remain in force under its automatic premium loan regulations, the reinsurance shall continue unchanged and in force as long as such regulations remain in effect, except as provided for otherwise in this Agreement. REINSTATEMENTS If a policy reinsured on an automatic basis is reinstated in accordance with its terms or the rules of the Company, referenced in Exhibit A-II, the reinsurance shall be reinstated automatically be the Reinsurer. Notification of the reinstatement shall be mailed to the office of the Reinsurer no later than four weeks after the reinstatement of the original policy. MININMUM CESSION The minimum initial amount to be reinsured shall be as set out in Exhibit C. Reinsurance under this Agreement shall be cancelled whenever the net amount at risk becomes less than the Minimum Final Reinsuranc...
