FACULTATIVE OBLIGATORY REINSURANCE. When a policy does not qualify for automatic reinsurance because (1) the Automatic Acceptance Limit is exceeded, (2) the Jumbo Limit is exceeded or (3) the applicant is employed in an occupation included in the Occupation Exclusion List in Schedule A, PRUCO may make a request to reserve capacity through facultative obligatory reinsurance by contacting AUSA by facsimile. The request will include the name of the insured, date of birth, ceding company, amount applied for and amount inforce. If PRUCO reserves capacity and the policy is issued, PRUCO must submit a form substantially similar to the "Notification of Reinsurance" form shown in Schedule F.
FACULTATIVE OBLIGATORY REINSURANCE. When a policy does not qualify for automatic reinsurance because (1) the Automatic Acceptance Limit is exceeded, (2) the Jumbo Limit is exceeded or (3) the applicant is employed in an occupation included in the Occupation Exclusion List in Schedule A, PRUCO OF NJ may make a request to reserve capacity through facultative obligatory reinsurance by contacting SWISS RE by telephone. If PRUCO OF NJ reserves capacity and the policy is issued, PRUCO OF NJ must submit a form substantially similar to the "Notification of Reinsurance" form shown in Schedule F.
FACULTATIVE OBLIGATORY REINSURANCE. PPVUL policies will not qualify for automatic reinsurance. If a PPVUL policy meets the requirements of subsections ‘a’ – ‘g’ of the ‘AUTOMATIC REINSURANCE TERMS’ section, THE COMPANY will make a request to reserve capacity through facultative obligatory reinsurance by contacting THE REINSURER in writing (i.e., electronic mail). If THE REINSURER provides capacity and the policy is issued, THE COMPANY will include the policy on its reports used for automatic reinsurance as described in the ‘REPORTS’ section. THE REINSURER may not withhold available capacity and THE COMPANY may not reject capacity offered by THE REINSURER.
FACULTATIVE OBLIGATORY REINSURANCE. If THE COMPANY reinstates a policy that was originally ceded to THE REINSURER as facultative obligatory reinsurance, then THE REINSURER’s reinsurance for the policy shall be reinstated.
FACULTATIVE OBLIGATORY REINSURANCE. ANNUITY & LIFE RE’s reinsurance coverage for any policy that is ceded under the terms of facultative obligatory reinsurance in this Agreement will begin when (1) PRUCO OF NJ accepts ANNUITY & LIFE RE’s offer by making a dated notation of its acceptance in its underwriting file and mailing the “Notification of Reinsurance” form to ANNUITY & LIFE RE and (2) the policy has been issued. In addition, ANNUITY & LIFE RE will be liable for benefits paid under PRUCO OF NJ’s conditional receipt or temporary insurance agreement if the conditions for automatic reinsurance stated in Section 6a, b, e, h, and i of this Agreement are met. ANNUITY & LIFE RE’s liability under PRUCO OF NJ’s conditional receipt or temporary insurance agreement will be limited to the portion of $1,000,000 that is derived as the amount of capacity reserved by PRUCO OF NJ from ANNUITY & LIFE RE divided by the total amount of capacity reserved by PRUCO OF NJ from all reinsurers.
FACULTATIVE OBLIGATORY REINSURANCE. AUSA's reinsurance coverage for any policy that is ceded under the terms of facultative obligatory reinsurance in this Agreement will begin when (1) PRUCO accepts AUSA's offer by making a dated notation of its acceptance in its underwriting file and mailing the "Notification of Reinsurance" form to AUSA and (2) the policy has been issued. In addition, AUSA will be liable for benefits paid under PRUCO's conditional receipt or temporary insurance agreement if the conditions for automatic reinsurance stated in Section 6a, b, e, h, and i of this Agreement are met. AUSA's liability under PRUCO's conditional receipt or temporary insurance agreement will be limited to the portion of $1,000,000 that is derived as the amount of capacity reserved by PRUCO from AUSA divided by the total amount of capacity reserved by PRUCO from all reinsurers.
FACULTATIVE OBLIGATORY REINSURANCE. AUSA's reinsurance coverage for any policy that is ceded under the terms of facultative obligatory reinsurance in this Agreement will begin when (1) PRUCO OF NJ accepts AUSA's offer by making a dated notation of its acceptance in its underwriting file and mailing the "Notification of Reinsurance" form to AUSA and (2) the policy has been issued. In addition, AUSA will be liable for benefits paid under PRUCO OF NJ's conditional receipt or temporary insurance agreement if the conditions for automatic reinsurance stated in Section 6a, b, e, h, and i of this Agreement are met. AUSA's liability under PRUCO OF NJ's conditional receipt or temporary insurance agreement will be limited to the portion of $1,000,000 that is derived as the amount of capacity reserved by PRUCO OF NJ from AUSA divided by the total amount of capacity reserved by PRUCO OF NJ from all reinsurers.
FACULTATIVE OBLIGATORY REINSURANCE. THE REINSURER’s reinsurance coverage for any policy that is ceded under the terms of facultative obligatory reinsurance in this Agreement will begin and end simultaneously with THE COMPANY’s contractual liability for the policy reinsured. In addition, THE REINSURER will be liable for benefits paid under THE COMPANY’s conditional receipt or temporary insurance agreement if (1) all of the conditions for automatic reinsurance coverage under the ‘AUTOMATIC REINSURANCE TERMS’ section of this Agreement are met, or (2) the death is accidental and the conditions listed in sections ‘b’ through ‘g’ under the ‘AUTOMATIC REINSURANCE TERMS’ section of this Agreement are met. THE REINSURER’s liability under THE COMPANY’s conditional receipt, temporary insurance agreement, or limited insurance agreement will be limited to the lesser of (a) THE REINSURER’s reinsured portion of the face amount of the policy and (b) the portion of $1,000,000 that is derived as the available capacity of THE REINSURER divided by the amount of the policy.
FACULTATIVE OBLIGATORY REINSURANCE. THE REINSURER’s reinsurance coverage for any policy that is ceded under the terms of facultative obligatory reinsurance in this Agreement will begin and end simultaneously with THE COMPANY’s contractual liability for the policy reinsured, subject to THE REINSURER having reserved capacity as set forth in the ‘FACULTATIVE OBLIGATORY REINSURANCE’ section. In addition, THE REINSURER will be liable for benefits paid under THE COMPANY’s conditional receipt or temporary insurance agreement if (1) all of the conditions for automatic reinsurance coverage under the ‘AUTOMATIC REINSURANCE TERMS’ section of this Agreement are met, or (2) the death is accidental and the conditions listed in sections ‘b’ through ‘g’ under the ‘AUTOMATIC REINSURANCE TERMS’ section of this Agreement are met. THE REINSURER’s liability under THE COMPANY’s conditional receipt, temporary insurance agreement, or limited insurance agreement will be limited to the lesser of (a) THE REINSURER’s reinsured portion of the face amount of the policy and (b) the portion of $1,000,000 that is derived as the available capacity of THE REINSURER divided by the amount of the policy.
FACULTATIVE OBLIGATORY REINSURANCE. SWISS RE's reinsurance coverage for any policy that is ceded under the terms of facultative obligatory reinsurance in this Agreement will begin when (1) PRUCO accepts SWISS RE's offer by making a dated notation of its acceptance in its underwriting file and mailing the "Notification of Reinsurance" form to SWISS RE and (2) the policy has been issued. In addition, SWISS RE will be liable for benefits paid under PRUCO's conditional receipt or temporary insurance agreement if the conditions for automatic reinsurance stated in Section 6a, b, e, h, and i of this Agreement are met. SWISS RE's liability under PRUCO's conditional receipt or temporary insurance agreement will be limited to the portion of $1,000,000 that is derived as the amount of capacity reserved by PRUCO from SWISS RE divided by the total amount of capacity reserved by PRUCO from all reinsurers.
