Insolvency of Reinsurer. If the Reinsurer becomes insolvent as determined by the Department of Insurance responsible for such determination, amounts due the Reinsurer will be paid net of the terms of this Agreement and directly to the liquidator, receiver, or statutory successor without decrease. All reinsurance ceded under this Agreement may be recaptured by the Ceding Company without charge or penalty as of the date Reinsurer fails to meet its obligations under this Agreement.
Appears in 11 contracts
Samples: Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I), Automatic Yearly Renewable Term (Separate Account Vl I of Hartford Life Insurance Co), Automatic Yearly Renewable Term (Hartford Life & Annuity Insurance Co Sep Account Vl I)
Insolvency of Reinsurer. If the Reinsurer becomes insolvent as determined by the Department of Insurance responsible for such determination, amounts due the Reinsurer will be paid net of the terms of this Agreement and directly to the liquidator, receiver, or statutory successor without decrease. All The Ceding Company may recapture all reinsurance ceded under this Agreement may be recaptured by the Ceding Company without charge or penalty as of the date Reinsurer fails to meet its obligations under this Agreement.
Appears in 7 contracts
Samples: Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I), Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I), Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I)
Insolvency of Reinsurer. If the Reinsurer becomes insolvent as determined by the Department of Insurance responsible for such determination, amounts due the Reinsurer will be paid net of the terms of this Agreement and directly to the liquidator, receiver, or statutory successor without decrease. All The Ceding Company without charge may recapture all reinsurance ceded under this Agreement may be recaptured by the Ceding Company without charge or penalty as of the date Reinsurer fails to meet its obligations under this Agreement.
Appears in 2 contracts
Samples: Automatic Yearly Renewable Term (Separate Account Vl I of Hartford Life Insurance Co), Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I)
Insolvency of Reinsurer. If the Reinsurer becomes insolvent as determined by the Department of Insurance Regulatory Agency responsible for such determination, amounts due the Reinsurer will be paid net of the terms of this Agreement and directly to the liquidator, receiver, or statutory successor without decrease. In addition, upon the Reinsurer's Insolvency, the Ceding Company may cancel this Agreement for future new business as described in Article XIX. All reinsurance ceded under this Agreement may be recaptured by the Ceding Company without charge or penalty as of the date Reinsurer fails to meet its obligations under this Agreement.
Appears in 1 contract
Samples: Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I)
