Common use of Insolvency Clause in Contracts

Insolvency. A. In the event of the insolvency of one or more of the reinsured companies, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice to the Reinsurer of the pendency of a claim against the company indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiesCompany, this reinsurance shall be payable directly to the company Company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company Company without diminution because of the insolvency of the company Company or because the liquidator, receiver, conservator or statutory successor of the company Company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company Company shall give written notice to the Reinsurer of the pendency of a claim against the company Company indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company Company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company Company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiesCompany, this reinsurance shall be payable directly to the company Company or to its liquidator, receiver, conservator or statutory successor successor, with reasonable provision for verification, on the basis of the liability of the company Company without diminution because of the insolvency of the company Company or because the liquidator, receiver, conservator or statutory successor of the company Company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company Company shall give written notice to the Reinsurer of the pendency of a claim against the company Company indicating the policy Policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company Company as part of the expense of conservation or liquidation to the extent of a pro rata proportionate share of the benefit which may accrue to the company Company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In The Reinsurer hereby agrees that, as to all reinsurance made, ceded, renewed or otherwise becoming effective hereunder, the event portion of any risk or obligation assumed by the Reinsurer, when such portion is ascertained, shall be payable immediately on demand of the insolvency of one or more of Company, with reasonable provision for verification before payment, and the reinsured companies, this reinsurance shall be payable directly to by the company or to its liquidator, receiver, conservator or statutory successor Reinsurer on the basis of the liability of the company Company under the Policy or Policies reinsured, without diminution because of the insolvency of the company Company, directly to the Company or because the to its liquidator, receiver, conservator or other statutory successor. It is agreed that in the event of the insolvency of the Company, the liquidator, receiver or other statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company Company shall give prompt written notice to the Reinsurer of the pendency or submission of a claim against under the company indicating the policy Policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during Policies reinsured. During the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, adjudicated any defense or defenses that it may deem available to the company Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeableis chargeable against the Company, subject to the approval of the Courtany court approval, against the company as a part of the expense of conservation or liquidation to the extent of a pro rata proportionate share of the benefit which may accrue accrues to the company Company solely as a result of the defense undertaken by the Reinsurer.. ARTICLE XIII

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiescompany, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without with diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice to the Reinsurer of the pendency of a claim against the company indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiesCompany, this reinsurance shall be payable directly to the company Company or to its liquidator, receiver, conservator or statutory successor successor, with reasonable provision for verification, on the basis of the liability of the company Company without diminution because of the insolvency of the company Company or because the liquidator, receiver, conservator or statutory successor of the company Company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company Company shall give written notice to the Reinsurer of the pendency of a claim against the company Company indicating the policy Policy or bond reinsured reinsured, which claim would involve a possible liability on the part of the Reinsurer Reinsurer, within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company Company as part of the expense of conservation or liquidation to the extent of a pro rata proportionate share of the benefit which may accrue to the company Company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiesCompany, this reinsurance shall be payable directly to the company Company or to its liquidator, receiver, conservator or statutory successor successor, with reasonable provision for verification, on the basis of the liability of the company Company without diminution because of the insolvency of the company Company or because the liquidator, receiver, conservator or statutory successor of the company Company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company Company shall give written notice to the Reinsurer of the pendency of a claim against the company Company indicating the policy Policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company Company as part of the expense of conservation or liquidation to the extent of a pro rata proportionate share of the benefit which may accrue to the company Company solely as a result of the defense undertaken by the Reinsurer.. Casualty Catastrophe XOL Contract 21

Insolvency. A. In the event of the insolvency of one or more both of the reinsured companies, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice to the Reinsurer of the pendency of a claim against the company indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiesCompany, this reinsurance shall be payable directly to the company Company, or to its liquidator, receiver, conservator or statutory successor immediately upon demand on the basis of the liability of the company Company without diminution because of the insolvency of the company Company or because the liquidator, receiver, conservator or statutory successor of the company Company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company Company shall give written notice to the Reinsurer of the pendency of a claim against the company indicating the policy or bond reinsured Company which claim would involve a possible liability on the part of the Reinsurer Reinsurer, indicating the policy or bond reinsured, within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and . It is further agreed that during the pendency of such claim, claim the Reinsurer may investigate such claim and interpose, at its their own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it they may deem available to the company Company or its liquidator, receiver, conservator conservator, or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company Company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company Company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. (a) In the event of the insolvency of one or more of the reinsured companiesCeding Companies, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It it is agreed, however, agreed that the liquidator, receiver, conservator or statutory successor of the company Ceding Companies shall give written notice to the Reinsurer of the pendency of a claim against the company Ceding Companies indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company Ceding Companies or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company Ceding Companies as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company Ceding Companies solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companies, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice to the Reinsurer of the pendency of a claim against the company indicating the policy Policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiesCompany, this reinsurance shall be payable directly to the company Company or to its liquidator, receiver, conservator or statutory successor successor, with reasonable provision for verification, on the basis of the liability of the company Company without diminution because of the insolvency of the company Company or because the liquidator, receiver, conservator or statutory successor of the company Company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company Company shall give written notice to the Reinsurer of the pendency of a claim against the company Company indicating the policy Policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company Company as part of the expense of conservation or liquidation to the extent of a pro rata proportionate share of the benefit which may accrue to the company Company solely as a result of the defense undertaken by the Reinsurer.. Casualty Catastrophe XOL Contract 00 00-00-00

Insolvency. A. In the event of the insolvency of one or more both of the reinsured companies, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice to the Reinsurer of the pendency of a claim against the company company:indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companies, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor successor, on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice to the Reinsurer of the pendency of a claim against the company indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companies, this reinsurance shall be payable directly to the company company, or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice to the Reinsurer of the pendency of a claim against the company indicating the policy or bond reinsured insured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Courtcourt, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiescompany, this reinsurance shall be payable directly to the company Company, or to its liquidator, receiver, conservator or statutory successor immediately upon demand, with reasonable provision for verification, on the basis of the liability of the company Company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice to the Reinsurer of the pendency of a claim against the company Company indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency pending of such claim, claim the Reinsurer may investigate such claim and interpose, at its own expenseexpenses, in the proceeding where such claim is to be adjudicated, adjudicated any defense or defenses that it may deem available to the company Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Courtcourt, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company Company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiesCompany, this reinsurance shall be payable directly to the company Company, or to its liquidator, receiver, conservator or statutory successor successor, immediately upon demand on the basis of the liability of the company Company without diminution because of the insolvency of the company Company or because the liquidator, receiver, conservator or statutory successor of the company Company has failed to pay all or a portion of any claim. It is agreed, however, that within a reasonable time the liquidator, receiver, conservator or statutory successor of the company Company shall give written notice to the Reinsurer of the pendency of a claim against the company Company indicating the policy any Policy or bond Policies reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during insolvency proceeding. During the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it they may deem available to the company Company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer Company shall be chargeable, subject to the approval of the Courtcourt, against the company Company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company Company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companies, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written writhen notice to the Reinsurer of the pendency of a claim against the company indicating the policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the 07\I6L1001 conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companies, this reinsurance shall be payable directly to the company or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company without diminution because of the insolvency of the company or because the liquidator, receiver, conservator or statutory successor of the company has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company shall give written notice Notice to the Reinsurer of the pendency of a claim against the company indicating the policy Policy or bond reinsured which claim would involve a possible liability on the part of the Reinsurer within a reasonable time after such claim is filed in the conservation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, any defense or defenses that it may deem available to the company or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer shall be chargeable, subject to the approval of the Court, against the company as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company solely as a result of the defense undertaken by the Reinsurer.

Insolvency. A. In the event of the insolvency of one or more of the reinsured companiesCOMPANY, this reinsurance shall be payable directly to the company COMPANY or to its liquidator, receiver, conservator or statutory successor on the basis of the liability of the company COMPANY without diminution because of the insolvency of the company COMPANY or because the liquidator, receiver, conservator or statutory successor of the company COMPANY has failed to pay all or a portion of any claim. It is agreed, however, that the liquidator, receiver, conservator or statutory successor of the company COMPANY shall give written notice to the Reinsurer REINSURER of the pendency of a claim against the company COMPANY indicating the policy or bond reinsured reinsured, which claim would involve a possible liability on the part of the Reinsurer REINSURER within a reasonable time after such claim is filed in the conservation conversation or liquidation proceeding or in the receivership, and that during the pendency of such claim, the Reinsurer REINSURER may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated, adjudicated any defense or defenses that which it may deem available to the company COMPANY or its liquidator, receiver, conservator or statutory successor. The expense thus incurred by the Reinsurer REINSURER shall be chargeable, subject to the approval of the Courtcourt, against the company COMPANY as part of the expense of conservation or liquidation to the extent of a pro rata share of the benefit which may accrue to the company COMPANY solely as a result of the defense undertaken by the ReinsurerREINSURER.