FACULTATIVE REINSURANCE. For facultative reinsurance, the Reinsurer's liability will commence at the same time as the Ceding Company's liability, including liability under any conditional receipt or temporary insurance provision, provided that the Reinsurer has made a facultative offer and that offer was accepted in accordance with the terms of this Agreement. 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 Article 4.3 below, until such time that facultative coverage with any reinsurer commences in accordance with the applicable reinsurance agreement between the Ceding Company and the reinsurer.
Appears in 16 contracts
Samples: Reinsurance Agreement (Riversource of New York Account 8), Reinsurance Agreement (Riversource Variable Life Separate Account), Reinsurance Agreement (Riversource of New York Account 8)
