GENERAL REINSURANCE CORPORATION. The decision of the majority of the arbitrators shall be in writing and shall be final and binding upon the parties. Each party shall bear the cost of its own arbitrator and shall jointly and equally bear with the other party the expense of the third arbitrator and other costs of the arbitration. In the event both arbitrators are chosen by one party, the fees of all arbitrators shall be equally divided between the parties. The arbitration shall be held at the times and places agreed upon by the arbitrators.
GENERAL REINSURANCE CORPORATION. The Reinsurer shall be given written notice of the pendency of each claim against the Company on the policy(ies) reinsured hereunder within a reasonable time after such claim is filed in the insolvency proceedings. The Reinsurer shall have the right to investigate each such claim and to interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defenses which it may deem available to the Company or its liquidator. The expense thus incurred by the Reinsurer shall be chargeable, subject to court approval, against the insolvent Company as part of the expense of liquidation to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer.
GENERAL REINSURANCE CORPORATION. Promptly upon receipt of a definitive statement of Net Loss and Adjustment Expense from the Company, but within no more than 25 days after receipt of such statement, the Reinsurer shall pay to the Company the Reinsurer’s portion of Net Loss and the Reinsurer’s portion of Adjustment Expense, if any. The Company shall report to the Reinsurer any subsequent changes in the amount of Net Loss and/or Adjustment Expense, and the amount due either party shall be remitted promptly, but within no more than 25 days after receipt of such report.
GENERAL REINSURANCE CORPORATION. (b) Amounts due from all reinsurance which the Company and its affiliates, if any, purchase, including but not limited to this reinsurance, all other treaty reinsurance and all facultative reinsurance, and whether collectible or not, under which there is a recoverable for any such “insured loss”, exceeds the amount of the Company’s and its affiliates’, if any, gross “insured loss”, the excess amount shall be allocated to the Reinsurer in the ratio that the Reinsurer’s liability for the “insured loss” under this Agreement bears to the total collectible reinsurance recoverables for the “insured loss” under (b) above. Upon receipt of payment under the Act by the Company and its affiliates, if any, the Company shall pay to or credit the Reinsurer under this Agreement with the Reinsurer’s share of such excess amount determined in accordance with the preceding paragraph.
GENERAL REINSURANCE CORPORATION. (1) War, including undeclared or civil war; warlike action by a military force, including action in hindering or defending against an actual or expected attack, by any government, sovereign or other authority using military personnel or other agents; or insurrection, rebellion, revolution, usurped power or action taken by governmental authority in hindering or defending against any of these. War includes any activity that would be included as an “act of terrorism” in paragraphs (2), (3), (4) and (5) below, but for the fact that such activity was perpetrated by an official, employee or agent of a foreign state acting for or on behalf of such state.
GENERAL REINSURANCE CORPORATION. (c) Be completely discharged from its obligation to make any payment to the Company under this Exhibit and be entitled to set off against any amount due from the Reinsurer to the Company under this or any other agreement for any amounts for which the Reinsurer would not be liable except for the existence of such Mortgagee Reinsurance Endorsement. The Reinsurer shall have the right to cancel any Mortgagee Reinsurance Endorsement by notice to the mortgagee. Prior to the termination date, the Company shall advise the Reinsurer as to which of the above options shall apply. EXHIBIT B Attached to and made a part of Agreement of Reinsurance No. 9034 EXCESS OF LOSS REINSURANCE (Per Risk) of Property Business (Coverage for Terrorism Only)
GENERAL REINSURANCE CORPORATION. By ------------------------------ Its ----------------------------- STATE OF CONNECTICUT) ) SS. COUNTY OF __________) On this ___ day of _______, 1996, before me a notary public of the State of Connecticut, personally appeared __________________, to me personally known and known to be an officer of General Reinsurance Corporation, who represented that he was authorized to execute the foregoing instrument on behalf of the corporation, who executed the foregoing instrument on behalf of the corporation, and who acknowledged that he read the same and executed it as his free act and deed. ----------------------- Notary Public * * * THE HOME INSURANCE COMPANY OF ILLINOIS By_______________________________________ Its_____________________________________ STATE OF _____________) ) SS. COUNTY OF ____________) On this ___ day of _______, 1996, before me a notary public of the State of________________, personally appeared __________________, to me personally known and known to be an officer of The Home Insurance Company of Illinois, who represented that he was authorized to execute the foregoing instrument on behalf of the corporation, who executed the foregoing instrument on behalf of the corporation, and who acknowledged that he read the same and executed it as his free act and deed. _____________________________________ Notary Public * * * PROGRESSIVE CASUALTY INSURANCE COMPANY By_______________________________________ Its_____________________________________ STATE OF _____________) ) SS. COUNTY OF ____________) On this ___ day of _______, 1996, before me a notary public of the State of________________, personally appeared __________________, to me personally known and known to be an officer of Progressive Casualty Insurance Company, who represented that he was authorized to execute the foregoing instrument on behalf of the corporation, who executed the foregoing instrument on behalf of the corporation, and who acknowledged that he read the same and executed it as his free act and deed. _____________________________________ Notary Public * * * UNDERWRITERS AT LLOYD'S, LONDON By_______________________________________ Its_____________________________________ STATE OF _____________) ) SS. COUNTY OF ____________) On this ___ day of _______, 1996, before me a notary public of the State of________________, personally appeared __________________, to me personally known and known to be counsel for Underwriters at Lloyd's, London, who represented that he was authorized to e...
GENERAL REINSURANCE CORPORATION. The Reinsurer shall be subrogated to the rights of the Company to the extent of its loss payments to the Company. The Company agrees to enforce its rights of salvage, subrogation, and its rights against insurers or to assign these rights to the Reinsurer. If the reinsurance under an Exhibit is on a share basis, the recoveries shall be apportioned between the parties in the same ratio as the amounts of their liabilities bear to the loss. If the reinsurance under an Exhibit is on an excess basis, recoveries shall be distributed to the parties in an order inverse to that in which their liabilities accrued.
GENERAL REINSURANCE CORPORATION recorded by the Company or the insured at and after the effective time and date of termination, unless such claim is received and recorded by the Company or the insured during an extended reporting period in force at the time and date of termination. The Reinsurer shall return to the Company the reinsurance premium unearned calculated on the monthly pro rata basis as of the effective time and date of termination, less the commission previously allowed thereon. Xxxxxxxxx Xx. 0000 GENERAL REINSURANCE CORPORATION EXHIBIT B Attached to and made a part of Agreement of Reinsurance No. 8206
GENERAL REINSURANCE CORPORATION. Company, its affiliates or subsidiaries, may not be obligated by law to pay a claim to itself, its affiliates or subsidiaries;
