Liability of MPF. Other than the benefits payable under the Reinsurance Agreement to the Insurer, MPF shall not be liable for any Losses incurred by the Insurer, except to the extent that such Losses arise as a direct result of MPF’s negligence, fraud, or wilful default. MPF shall not be liable to the Insurer for any Losses incurred by the Insurer to the extent resulting directly or indirectly from circumstances beyond MPF’s reasonable control. Nothing in the Reinsurance Agreement limits or excludes any duty MPF may have to the Insurer under FSMA or any applicable law or regulation.
Appears in 2 contracts
Samples: Reinsurance Agreement, Reinsurance Agreement
Liability of MPF. Other than the benefits payable under the Reinsurance Agreement Policy to the InsurerTrustee in respect of the Scheme, MPF shall not be liable for any Losses incurred by the InsurerScheme, except to the extent that such Losses arise as a direct result of MPF’s negligence, fraud, or wilful default. MPF shall not be liable to the Insurer Trustee for any Losses incurred by the Insurer Scheme to the extent resulting directly or indirectly from circumstances beyond MPF’s reasonable control. Nothing in the Reinsurance Agreement Policy limits or excludes any duty MPF may have to the Insurer Trustee or the Scheme under FSMA or any applicable law or regulation.
Appears in 2 contracts
Samples: Contract of Linked Long Term Insurance, Contract of Linked Long Term Insurance