HMO Reinsurance Agreement Sample Clauses

HMO Reinsurance Agreement. The parties each hereby acknowledge that, simultaneously with the execution of this Agreement, they intend to enter into a reinsurance agreement in the form attached hereto as Exhibit A-1 (the "HMO Reinsurance Agreement"). The parties intend, under the terms of the HMO Reinsurance Agreement, that PHS will cede to Guardian certain specified percentages of the risks under the HMO Plans, including those HMO Plans with a point of service feature, as more fully described in the HMO Reinsurance Agreement. In return. Guardian shall be allocated specified percentages of premiums received by PHS with respect to the HMO Plans, all as more fully described in the HMO Reinsurance Agreement.
Sample 1
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HMO Reinsurance Agreement. The parties each hereby acknowledge that, simultaneously with the execution of this Agreement, they intend to enter into a reinsurance agreement in the form attached hereto as Exhibit A-1 (the "HMO Reinsurance Agreement"). The parties intend, under the terms of the HMO Reinsurance Agreement, that PHS will cede to Guardian certain specified percentages of the risks under the HMO Plans, including those HMO Plans with a point-of-service feature, as more fully described in the HMO Reinsurance Agreement. The parties further intend that Guardian will retrocede to Physicians Health Services (Bermuda) Ltd., a affiliate of PHS, a specified percentage of the risks under the out-of-network portion of those HMO Plans with a point-of-service feature. In return, Guardian and Physicians Health Services (Bermuda) Ltd. shall be allocated specified percentages of premiums received by Company with respect to the HMO Plans, all as more fully described in the HMO Reinsurance Agreement.
Sample 1

Related to HMO Reinsurance Agreement

  • Reinsurance Agreements Promptly, notice of any material change or modification to any Reinsurance Agreements or Surplus Relief Reinsurance Agreements whether entered into before or after the Closing Date including Reinsurance Agreements, if any, which were in a runoff mode on the Closing Date, which change or modification could have a Material Adverse Effect;

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to North American Re the portion of the initial risk amount in excess of its retention. Thereafter, the Ceding Company and North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • Insurance Agreement The Trustee is authorized and directed to execute and deliver the Insurance Agreement and to perform the obligations of the Trustee thereunder.

  • Reinsurance Reinsurance services including, but not limited to (i) agreement to reinsurance policy and/or contract wordings and endorsements to existing policies; (ii) processing of reinsurance policy cancellations, nonrenewals and endorsements and other amendatory addenda; (iii) collection of premiums due under reinsurance policies or contracts, audits and remittances; (iv) negotiation and purchase of reinsurance coverage; (v) administration of letters of credit and other arrangements for the provision of security; and (vi) administration of reinsurance contracts.

  • LIFE REINSURANCE The reinsurance premiums per $1000 are shown in Schedule B. Reinsurance premiums for renewals will be calculated using (1) the issue age of the insured under the policy, (2) the duration since issuance of the policy and (3) the current underwriting classification.

  • Other Reinsurance The Company shall be permitted to carry other reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

  • Credit for Reinsurance Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.

  • FACULTATIVE REINSURANCE For Facultative reinsurance, the Reinsurer’s liability will commence at the same time as the Ceding Company’s liability, provided that the Reinsurer has made a binding Facultative offer and that offer was accepted, during the lifetime of the insured, in accordance with the terms of this Agreement.

  • Separate Insurance Borrower shall not take out separate insurance contributing in the event of loss with that required to be maintained pursuant to this Section 6.1 unless such insurance complies with this Section 6.1.

  • Insurance Contracts To the extent that any Welfare Plan is funded through the purchase of an insurance contract or is subject to any stop loss contract, the Parties shall cooperate and use their commercially reasonable efforts to replicate such insurance contracts for SpinCo or Parent as applicable (except to the extent that changes are required under applicable Law or filings by the respective insurers) and to maintain any pricing discounts or other preferential terms for both Parent and SpinCo for a reasonable term. Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts, or other preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges, or administrative fees that such Party may incur pursuant to this Section 7.06.

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