LEAD REINSURER Sample Clauses

The Lead Reinsurer clause designates a specific reinsurer as the primary point of contact and decision-maker among all participating reinsurers in a reinsurance agreement. This lead reinsurer is typically responsible for handling claims, negotiating settlements, and communicating with the cedent on behalf of the entire reinsurance panel. By centralizing authority and responsibility, the clause streamlines administrative processes and ensures consistent decision-making, thereby reducing confusion and delays that could arise from coordinating with multiple reinsurers.
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LEAD REINSURER. In the interest of expediting the claim settlement process and streamlining the amount of information sent to all reinsurers, the parties agree to use the Lead Reinsurer process described above in Article 9.2 (b). For claims falling under Article 9.2(b) above, consultation on Automatic Reinsurance contestable claims will be determined by the following schedule: ------------------------------------------------------- Claimant Last Name Lead Reinsurer ------------------------------------------------------- A-D [name of reinsurer A] ------------------------------------------------------- E-H [name of reinsurer B] ------------------------------------------------------- I-L [name of reinsurer C] ------------------------------------------------------- M-P [name of reinsurer D] ------------------------------------------------------- Q-Z [name of reinsurer E] ------------------------------------------------------- The Lead Reinsurer will act in a consultative role only and will not make any claim decisions concerning payment of a claim, nor will the Lead Reinsurer act as a third party administrator of claim materials required by other reinsurers under this Agreement. If the Ceding Company and Lead Reinsurer do not agree concerning the payment of a claim or any action to be taken relative to the claim, the Ceding Company will submit all relevant claims documentation to all reinsurers on the risk for their consideration. The Ceding Company will wait at least five (5) business days for the reinsurers' comments before proceeding to settle the claim. IDSL-NY VUL4/LP Select Treaty 14 In no event will the Lead Reinsurer be granted the authority to act on behalf of the other reinsurers with respect to any decision regarding being a party to a contest, compromise, or litigation of a claim involving reinsurance.
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LEAD REINSURER. Responsibility of the Lead Reinsurer
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LEAD REINSURER. Responsibility of the Lead Reinsurer ARTICLE I DEFINITIONS 1 ARTICLE II REINSURANCE; REQUIREMENTS FOR REINSURANCE COVERAGE AND CESSIONS 3 ARTICLE III STATEMENT OF ACCOUNT 5 ARTICLE IV CHANGES TO BUSINESS REINSURED 7 ARTICLE V RECAPTURE 10 ARTICLE VI LIABILITY 13 ARTICLE VII CLAIMS 14 ARTICLE VIII DISPUTE RESOLUTION 16 ARTICLE IX FINANCIAL IMPAIRMENT AND INSOLVENCY 18 ARTICLE X TAXES & EXPENSES 20 ARTICLE XI GENERAL PROVISIONS 21 EXHIBIT A 27 EXHIBIT A-I 28 EXHIBIT B 29 EXHIBIT C 34 EXHIBIT D 41 EXHIBIT E 42 EXHIBIT E-I 46 EXHIBIT E-II 48 EXHIBIT E-III 50 EXHIBIT F 52 EXHIBIT G 55 EXHIBIT H 56 EXHIBIT I 57
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LEAD REINSURER. For Simplified Issue and Guaranteed Issue cases where the terms for automatic reinsurance are not met, but where the case falls within the lead reinsurer limits described below, THE COMPANY may submit these cases to THE REINSURER. THE REINSURER will be the lead reinsurer for the pool with respect to underwriting. THE REINSURER will promptly examine the case and notify THE COMPANY of the terms and conditions of a facultative offer by the pool or that an offer will not be made by the pool. For cases that fall outside the lead reinsurer limits described below, THE REINSURER also has the option of making a facultative offer that represents THE REINSURER, but not the pool. Lead reinsurer limits are the same as the automatic reinsurance limits except in the following respects:
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LEAD REINSURER. For Simplified Issue and Guaranteed Issue cases where the terms for automatic reinsurance are not met, but where the case falls within the lead reinsurer limits described below, THE COMPANY may submit these cases to the Security Life of Denver Insurance Company ("SLD"). SLD will be the lead reinsurer for the pool with respect to underwriting. SLD will promptly examine the case and notify THE COMPANY of the terms and conditions of a facultative offer by the pool or that an offer will not be made by the pool. For cases that fall outside the lead reinsurer limits described below, SLD also has the option of making a facultative offer that represents SLD, but not the pool. Lead reinsurer limits are the same as the automatic reinsurance limits in except for the following respects: Simplified Issue:
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LEAD REINSURER. The Ceding Company retains the right to select a Lead Reinsurer for the administration of claims incurred under this Agreement. The selected Lead Reinsurer will act on behalf of all Reinsurers included in the Ceding Company's First Dollar Quota Share Agreement. As a general practice, the Ceding Company will only communicate with the Lead Reinsurer. The Lead Reinsurer may seek the advice of the other pool members at its discretion. The Lead Reinsurer is noted in Schedule I.
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LEAD REINSURER. IDSL VUL4/LP Select Treaty i
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Related to LEAD REINSURER

  • 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 a 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.

  • 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.

  • FACULTATIVE REINSURANCE 3.1 The Ceding Company may submit any application on a plan or rider identified in Exhibit B − Plans Covered and Binding Limits, to the Reinsurer (or any other reinsurer) for its consideration on a facultative basis. The Ceding Company will apply for reinsurance on a facultative basis by sending to the Reinsurer an Application for Facultative Reinsurance, providing information similar to the example outlined in Exhibit F – Application for Facultative Reinsurance. Accompanying this application will be copies of all underwriting evidence that is available for risk assessment including, but not limited to, copies of the application for insurance, medical examiners' reports, attending physicians' statements, inspection reports, and any other information bearing on the insurability of the risk. The Ceding Company also will notify the Reinsurer of any outstanding underwriting requirements at the time of the facultative submission. Any subsequent information received by the Ceding Company that is pertinent to the risk assessment will be immediately transmitted to the Reinsurer. After consideration of the application for facultative reinsurance and related information, the Reinsurer will promptly inform the Ceding Company of its underwriting decision. The Reinsurer's offer will expire at the end of one hundred twenty (120) days, unless otherwise specified by the Reinsurer in its offer. If the Ceding Company accepts the Reinsurer's offer, then the Ceding Company will note its acceptance in its underwriting file and include the policy on the next billing statement issued to the Reinsurer following policy activation. Reinsurer agrees the reinsurance offer will be deemed accepted by Ceding Company at the point in time Ceding Company makes such notation in its underwriting file in accordance with the Ceding Company's standard facultative placement procedures. Changes in plan, contract number, policyowner, or amount of coverage may be made subsequently by the Ceding Company without obtaining another offer from the Reinsurer provided such changes are within the amount approved by the Reinsurer and do not change the underlying risk. Coverage for any Automatic Increasing Benefit Rider shall be provided in accordance with this Agreement notwithstanding any notations on the offer that say "no benefits", "benefits excluded", or words of similar import. The relevant terms and conditions of the Agreement will apply to those facultative offers made by the Reinsurer which are accepted by the Ceding Company. Nothing herein prevents the Ceding Company from retaining the risk on a policy that was facultatively shopped or placing the policy with a different facultative reinsurer.

  • Reinsurance reinsurance with reinsurers acceptable to Lessor acting reasonably is required and such reinsurance will: (i) be on the same terms as the original insurances and will include the provisions of this Schedule; (ii) provide that notwithstanding any bankruptcy, insolvency, liquidation, dissolution or similar proceedings of or affecting the reinsured that the reinsurers’ liability will be to make such payments as would have fallen due under the relevant policy of reinsurance if the reinsured had (immediately before such bankruptcy, insolvency, liquidation, dissolution or similar proceedings) discharged its obligations in full under the original insurance policies in respect of which the then relevant policy of reinsurance has been effected; and (iii) contain a “cut-through” clause in the following form (or otherwise satisfactory to Lessor): “The Reinsurers and the Reinsured hereby mutually agree that, in the event of any claim arising under the reinsurances in respect of a total loss or other claim, as provided by the Aircraft Lease Agreement dated March 12, 2007 and made between Lessor and Lessee, such claim is to be paid to the Person named as sole loss payee under the primary insurances, the Reinsurers will in lieu of payment to the Reinsured, its successors in interest and assigns pay to the Person named as sole loss payee under the primary insurances effected by the Reinsured that portion of any loss due for which the Reinsurers would otherwise be liable to pay the Reinsured (subject to proof of loss), it being understood and agreed that any such payment by the Reinsurers will (to the extent of such payment) fully discharge and release the Reinsurers from any and all further liability in connection therewith; subject to such provisions not contravening any Law of the State of Incorporation;”

  • Insurer The Insurer shall be bound only by the terms of the Policy. Any payments the Insurer makes or actions it takes in accordance with the Policy shall fully discharge it from all claims, suits and demands of all entities or persons. The Insurer shall not be bound by or be deemed to have notice of the provisions of this Agreement.