Florida Hurricane Catastrophe Fund. The FHCF mandatory layer of coverage, which is purchased by the Company, shall be deemed to inure to the benefit of this Contract. Further, any FHCF loss reimbursement shall be deemed to be paid to the Company in accordance with the FHCF reimbursement contract at the full payout level set forth therein and will be deemed not to be reduced by any reduction or exhaustion of the FHCF's claims-paying capacity as respects the mandatory FHCF coverage.
Appears in 4 contracts
Samples: Excess Catastrophe Reinsurance Contract (Federated National Holding Co), Excess Catastrophe Reinsurance Contract (Federated National Holding Co), Excess Catastrophe Reinsurance Contract (Federated National Holding Co)
Florida Hurricane Catastrophe Fund. The Company has purchased 75.0% of the FHCF mandatory layer of coverage, which is purchased by the Company, coverage and shall be deemed to inure to the benefit of this Contract. Further, any FHCF loss reimbursement shall be deemed to be paid to the Company in accordance with the FHCF reimbursement contract at the full payout level set forth therein and will be deemed not to be reduced by any reduction or exhaustion of the FHCF's claims-paying capacity as respects the mandatory FHCF coverage.
Appears in 1 contract
Samples: Excess Catastrophe Reinsurance Contract (Federated National Holding Co)
