Jumbo Pre-Issue Notification Clause Samples

Jumbo Pre-Issue Notification. As a service, the Reinsurer will assist the Ceding Company in identifying applicants who are possibly over the Jumbo Limit prior to policy issue based on information that is in the Reinsurer’s possession at the time of pre-issue notification. The Ceding Company acknowledges that this service is for informational purposes only, and that by rendering this service, the Reinsurer makes no assurances regarding compliance with the Jumbo Limit. It is the Ceding Company’s sole decision as to how the information is used. The Ceding Company will make commercially reasonable efforts to notify the Reinsurer on each pending policy application where the total in force and applied for amount in all companies is less than the Jumbo Limit but greater than $45,000,000. Should the Ceding Company fail to notify the Reinsurer pre-issue, the policy will remain eligible for Automatic reinsurance as defined in this Article.