Facultative Submissions. Applications for reinsurance on a facultative basis will be made in accordance with Exhibit A-2. Unless the Reinsurer provides written consent to an extension, the Company will have the number of days specified in Exhibit A-2 from the date of the Reinsurer’s final offer in which to place the policy with the insured/owner, after which the Reinsurer’s offer will expire without further notice or obligation. The terms of this Agreement will apply to each accepted facultative offer, unless the offer specifies different terms.
Facultative Submissions. The Company will apply for reinsurance on a facultative basis by sending to the Reinsurer an Application for Reinsurance, a sample of which is included as Exhibit B. Unless specified elsewhere in the Agreement, accompanying this Application for Reinsurance will be copies of all underwriting evidence that is available for risk assessment including, but not limited to, copies of the application for insurance, medical examiners' reports, attending physicians' statements, inspection reports, and other papers bearing on the insurability of the risk. The Company will also notify the Reinsurer of any outstanding underwriting requirements at the time of the facultative submission. Any subsequent information received by the Company that is pertinent to the risk assessment will be transmitted to the Reinsurer immediately. After consideration of the Application for Reinsurance and related papers, the Reinsurer will promptly inform the Company of its underwriting decision. The Reinsurer's offer will expire at the end of the period stated in Exhibit A, unless otherwise specified by the Reinsurer. If the underwriting decision is acceptable to the Company and the Company's policy is subsequently placed in force in accordance with the issue rules provided to the Reinsurer, the Company will duly notify the Reinsurer. If any risk is submitted to more than one reinsurer for consideration, facultative placement is based on the order of the responses received from the reinsurers, first offer in, taking into consideration the amount and rating requested by the Company. .
Facultative Submissions. The Company will apply for reinsurance on a facultative basis by sending to the Reinsurer an Application for Reinsurance, a sample of which is included as Exhibit B. Accompanying this Application for Reinsurance will be copies of all underwriting evidence that is available for risk assessment. Any subsequent information received by the Company that is pertinent to the risk assessment will be transmitted to the Reinsurer immediately. After consideration of the Application for Reinsurance and related papers, the Reinsurer will 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 issue rules provided to the Reinsurer, the Company will duly notify the Reinsurer according to the terms outlined in Exhibit F. The Company will advise the Reinsurer in writing if the Application for Reinsurance is not to be placed with the Reinsurer.
Facultative Submissions. Applications for reinsurance on a facultative basis will be made in accordance with Exhibit A-2. Unless the Reinsurer provides written consent to an extension, the Company will have the number of days specified in Exhibit A-2 from the date of the Reinsurer’s final offer in which to place the policy with the insured/owner, after which the Reinsurer’s offer will expire without further notice or obligation. The terms of this Agreement will apply to each accepted facultative offer, unless the offer specifies different terms. I414849US-12 (11-01-2011) QT#04028US11 (COLI & BXXx)
Facultative Submissions. Not applicable. I486326US-14 (02-21-2014) (QT #06655US13)
Facultative Submissions. 1. When the Company submits a risk to the [name of reinsurance company] on a facultative basis, copies of the original application, all medical examinations, microscopical reports, inspection reports and all other information the Company may have pertaining to the insurability of the risk shall be sent to the [name of reinsurance company]. If the amount at risk to be ceded to [name of reinsurance company] does not exceed [dollar amount], the underwriting papers should be accompanied by an executed Bordereau Facultative Application, Form L(POL)B- FAC, as shown in Exhibit A. If the amount at risk to be ceded exceeds [dollar amount], the papers should be accompanied by a Facultative Application, page 1 of Form L(POL)100, as shown in Exhibit C. The [name of reinsurance company] shall promptly notify the Company of its decision on the risk. Confirmation of Reinsurance
2. When a policy is placed in force on which reinsurance is to be ceded to [name of reinsurance company], the Company shall notify [name of reinsurance company] that the reinsurance has been effected in one of the following ways:
(a) If the amount of reinsurance being ceded to [name of reinsurance company], including amounts previously ceded, is [dollar amount] or less, no special new business report to [name of reinsurance company] is necessary. An entry for the reinsurance should simply be included in the next Quarterly Premium Report, as described in Article VI, paragraph 2.(b).
(b) If the amount of reinsurance being ceded to [name of reinsurance company], including amounts previously ceded, is more than [dollar amount] but less than [dollar amount], notice of the reinsurance should be sent to [name of reinsurance company] at the end of the month in which the reinsurance is effected, as outlined in Article VI, paragraph 2. (a), Monthly Large Amount New Business Report.
(c) If the amount of reinsurance being ceded to [name of reinsurance company], including amounts previously ceded, exceeds [dollar amount], the first [dollar amount] will be ceded on a bordereau basis and the excess over [dollar amount] will be ceded on an individual cession basis. Accordingly, confirmation of the reinsurance in these cases will be reported to [name of reinsurance company] in a dual fashion. The bordereau portion shall be reported on the next Monthly Large Amount New Business Report referred to in subparagraph (b), above, and the excess over [dollar amount] of reinsurance to [name of reinsurance company] on a lif...
Facultative Submissions. In applying to Allianz Life for facultative individual life reinsurance, the Ceding Company shall use a form in substantial accord with Schedule B of this agreement. The Ceding Company shall submit copies of the original application, medical examiners' reports, inspection records, attending physicians' statements plus any other papers or information that may have a bearing on the insurability of the risk. Upon receipt of such application, Allianz Life shall examine the papers and promptly notify the Ceding Company of its decision. Allianz Life shall have the option of accepting, rating or rejecting each risk. The Ceding Company shall furnish Allianz Life with any specimen copies of its individual life insurance applications, policy forms, rider forms, conditional receipt, temporary receipt, reinstatement rules, placement requirements, and any tables of rates and values which may be required for the proper administration of the business reinsured under this agreement, and shall keep Allianz Life informed with respect to any modifications of such rules, requirements, or forms under which reinsurance may be desired. The Ceding Company must follow its written procedures for the delivery of its policies, including evidence of good health and collection of premiums and be in compliance with relevant laws of all applicable jurisdictions. Exceptions to following the Ceding Company's written procedures can be granted only by written approval from Allianz Life.
Facultative Submissions. Applications for reinsurance on a facultative basis will be made in accordance with Exhibit A-2. Unless the Reinsurer provides written consent to an extension, the Company will have the number of days specified in Exhibit A-2 from the date of the Reinsurer’s final offer in which to place the policy with the insured/owner, after which the Reinsurer’s offer will expire without further notice or obligation. The terms of this Agreement will apply to each accepted facultative offer, unless the offer specifies different terms. If any risk is submitted to more than one reinsurer for consideration, the Company will cede the case to the reinsurer who offers the lowest/best offer. In the event of identical offers, the Company will split the risk equally after its retention has been determined. ODB# 103515US-09
Facultative Submissions. 1. When the Company submits a risk to the [name of reinsurance company] on a facultative basis, copies of the original application, all medical examinations, microscropical reports, inspections reports and all other information the Company may have pertaining to the insurability of the risk shall be sent to the [name of reinsurance company] along with the appropriately completed Bordereau Facultative Application, (Form L (POL) B-FAC), as shown in Exhibit A. The [name of reinsurance company] shall promptly notify the Company of its decision on the risk. Confirmation of Reinsurance
2. When a policy is placed in force on which reinsurance is to be ceded to [name of reinsurance company], notice of the reinsurance shall be sent to the [name of reinsurance company] at the end of the month in which reinsurance is effected, as outlined in Article VI, paragraph 1. (a), Monthly New Business and Premium Report. Policy Forms, Rate Book
3. The Company shall file with the [name of reinsurance company] copies of all its present policy forms, its rate book and reserve factors for special plans of insurance which are not readily available in published volumes. If new forms are published or if changes are made in the material already filed as provided above, the Company agrees to promptly file the new or revised copies of such material with the [name of reinsurance company].
Facultative Submissions. The Ceding Company may submit any risk that is eligible for automatic reinsurance to MARC for its underwriting opinion. If such risk is acceptable, it will be reinsured automatically under this agreement. Underwriting Standards
