for premium pricing Sample Clauses

for premium pricing. In the UK, Flood Re collects levies from every flood insurance in place issued by participating private insurers. These fees differ in accordance with risk and property value and are used to directly subside premiums for estates deemed uninsurable under the previous regime, around 2% of the total of the country, while lowering premiums for all other policyholders in medium and low-risk areas. Even though sophisticated, solidaristic and accounting partially for risk, the British system seems not to be unaffected by questions of social justice. It must be highlighted how Flood Re covers top-end riverside mansions in council tax band H, even though the original proposal was for these to be excluded, in the likes of estates developed after 2009 in high risk zones (DEFRA, 2014). Indeed, it is expected that homeowners in affluent but relatively flood-prone parts of the south-east of England, such as the Thames Valley, will be Flood Re’s ‘biggest beneficiaries’ (Xxxxx, 2016). Surminski (2018) points out that the gap between subsidised and risk-reflective premiums under Flood Re is likely to continue increasing, which raises serious questions about how policyholders will be able to afford premiums after Flood Re transitions to risk-reflective pricing beyond 2035. In Romania, on the other hand, fixed fees constituted the sole kind of premiums, with the fee varying depending on the kind of property insured: Type A (policy limit of €20,000 per dwelling with a premium of €20) and Type B (policy limit of €10,000 per dwelling with a premium of €10), for more basic construction (EIOPA, 2023a). Although granting affordability for the public, these fees do not appear to effectively incentivise the take-up of coverage, which is still very low (20%), especially in light of the legal requirement for homeowners to purchase it (Xxxx, 2022). Finally, Austria represents a unique case. Funds for federal post-disaster relief is collected through a public tax, which is excluded from property insurance policies, and applies the social justice principle, as low income households are generally relieved more than proportionally (X. Xxxxxx & Xxxxxxxx, 2016).
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  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • MODIFICATION This Agreement shall not be changed, modified, terminated, or discharged, in whole or in part, except by an instrument in writing signed by both parties hereto, or their respective successors or assignees.

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Definitions For purposes of this Agreement:

  • NOW, THEREFORE the parties hereto agree as follows:

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon, and the obligation of the party giving such notice, so far as it is affected by such Force Majeure, shall be suspended during the continuance of the inability then claimed, except as hereinafter provided, but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. Choice of Law The Agreement between the Vendor and TIPS/ESC Region 8 and any addenda or other additions resulting from this procurement process, however described, shall be governed by, construed and enforced in accordance with the laws of the State of Texas, regardless of any conflict of laws principles. Venue, Jurisdiction and Service of Process Any Proceeding arising out of or relating to this procurement process or any contract issued by TIPS resulting from or any contemplated transaction shall be brought in a court of competent jurisdiction in Camp County, Texas and each of the parties irrevocably submits to the exclusive jurisdiction of said court in any such proceeding, waives any objection it may now or hereafter have to venue or to convenience of forum, agrees that all claims in respect of the Proceeding shall be heard and determined only in any such court, and agrees not to bring any proceeding arising out of or relating to this procurement process or any contract resulting from or any contemplated transaction in any other court. The parties agree that either or both of them may file a copy of this paragraph with any court as written evidence of the knowing, voluntary and freely bargained for agreement between the parties irrevocably to waive any objections to venue or to convenience of forum. Process in any Proceeding referred to in the first sentence of this Section may be served on any party anywhere in the world. Venue for any dispute resolution process, other than litigation, between TIPS and the Vendor shall be located in Camp or Xxxxx County, Texas.

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

  • Term The term of this Agreement will be ten (10) years from the Effective Date (as such term may be extended pursuant to Section 4.2, the “Term”).

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

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