LIMITS OF COVER. A.1. As respects policies in force during the term of this Agreement, the Company shall retain for its own account and pay under one or more of the Company's policies the first $5,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $5,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $5,000,000 resulting from each and every loss.
A.2. As respects losses which were first reported to the Company during the period January 1, 1987 to December 31, 1992 and are first reported to the Reinsurer during the term of this Agreement, the Company shall retain for its own account and pay under one or more of the Company's policies the first $5,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $5,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $5,000,000 resulting from each and every loss. The coverage provided hereunder shall be no narrower nor broader in scope than that which was provided to the Company under their Third Excess of Loss Reinsurance Agreement in force for the same period (see attached Cover Note Numbers 01-87-0022, 01-88-0022, 01-89-0022, 01-90-0022, 01-91-0022 and 01-92-0022). It is understood that the Maximum Annual Aggregate Amount recoverable under A.1. and A.2. combined is $10,000,000 in all during the period of this Agreement.
LIMITS OF COVER. The Company shall retain for its own account and pay under one or more of the Company's policies the first $10,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $10,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $10,000,000 resulting from each and every loss.
LIMITS OF COVER. A. With respect to business classified as Directors and Officers Liability: The liability of the Reinsurer shall not exceed $4,000,000 per policy in the aggregate and/or coverage part (i.e., 80% of $5,000,000).
B. With respect to business classified as Errors and Omissions Liability: The liability of the Reinsurer shall not exceed $800,000 per policy in the aggregate and/or coverage part (i.e., 80% of $1,000,000).
C. This Agreement is extended to protect the Company for loss in Excess of Original Policy Limits and 80% of any Extra Contractual Obligations as defined in the Articles of that title herein; provided, however, the contractual loss and the Excess of Original Policy Limits and Extra Contractual Obligations loss(es) combined shall not exceed the limits in paragraphs A. and B. above.
LIMITS OF COVER. A. 1. As respects policies in force during the term of this Agreement, the Company shall retain for its own account and pay under one or more of the Company's policies the first $5,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $5,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $5,000,000 resulting from each and every loss as respects Physicians and Surgeons Comprehensive Professional and Business Liability policies, including Clinics and Clinical Laboratories, Errors and Omissions Liability policies for Managed Care Organizations and/or Directors and Officers Liability and/or Professional and Business Liability policies for hospitals and/or Extra Contractual Obligation losses and losses in Excess of Original Policy Limits only, resulting from the Company's net retained liability from the Texas Physicians and Surgeons Professional Liability Program underwritten by Xxx & Xxxxx, Inc., arising from any one incident.
LIMITS OF COVER. 3.1. The Reinsurer shall reimburse the Ceding Company for the amount of the Ceding Company’s losses, including loss adjustment expenses, incurred in each calendar year which amount is in the aggregate excess of $100,000,000. However, the liability of the Reinsurer shall not exceed, (i) for 2004, at any time of determination, twenty percent (20%) of the Ceding Company’s net retention (as defined above) with respect to the aggregate insured principal sum outstanding as of such time plus the insured principal sum outstanding under the Ceding Company’s two largest policies outstanding as of such time and (ii) in any subsequent one calendar year, twenty percent (20%) of the Ceding Company’s net retention (as defined above) with respect to the aggregate insured principal sum outstanding as of 11:59 p.m., Greenwich Mean Time in the United Kingdom, on December 31 of the prior year plus the insured principal sum outstanding under the Ceding Company’s two largest policies in effect as of 11:59 p.m., Greenwich Wan Time in the United Kingdom, on December 31 of the prior year.
LIMITS OF COVER. A. As respects policies issued by the Company, the Company shall cede to the Reinsurer and the Reinsurer shall accept from the Company a 20% quota share participation of the Company's net retained insurance liability, subject to the limitation set forth in paragraph B., below.
LIMITS OF COVER. A. The Company shall retain for its own account and pay under one or more of the Company's policies the first $1,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $1,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $1,000,000 resulting from each and every loss.
B. Notwithstanding the foregoing, it is a condition hereto that an Annual Aggregate Deductible of losses otherwise recoverable hereunder equal to 1% of GNEPI shall first be deducted before any liability attaches to the Reinsurer hereon.
C. The Reinsurer's maximum liability from all losses during the term of this Agreement shall not exceed $8,500,000 or 182.5% of the Company's Reinsurance Premiums Earned during the period, whichever is greater. It is further agreed that the Reinsurer's maximum liability, as respects any elected run off period, shall be limited to $8,500,000 or 182.5% of the Company's Reinsurance Premiums Earned, whichever is greater, for said run-off period.
D. (This paragraph shall apply only to those claims where first notice of claim or circumstance falls in Agreement Years prior to January 1, 1992.) As respects each and every loss where this Agreement responds on a claims made basis, and more than one insured or policy ED 4/5/96 Page 3 of 15 (Q)/pc/jk 4 01-96-0020 is covered under this Agreement period with claims made dates falling in more than one reinsurance agreement period, the limit and retention as respects claims covered under this Agreement shall be the percentage of the Limit and Retention under this Agreement that the amount of covered claim or claims hereunder bears to the total of all covered claims from the same loss.
LIMITS OF COVER. A. The Company shall retain for its own account the first $2,000,000 ultimate net loss, each and every loss occurrence each policy and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $2,000,000, each and every loss occurrence each policy, but the Reinsurer's maximum liability shall not exceed $8,000,000 resulting from each and every loss occurrence each policy.
B. In addition to the limits set forth above, the Reinsurer's maximum liability from all occurrences under this Agreement shall be $8,000,000 during each twelve (12) months period and 175% of Reinsurance Premiums Earned hereunder or $10,000,000 (losses plus loss adjustment expenses), whichever is the greater, in all during the Agreement term.
LIMITS OF COVER. A.1. As respects policies in force during the term of this Agreement, the Company shall retain for its own account and pay under one or more of the Company's policies the first $2,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $2,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $3,000,000 resulting from each and every loss.
A.2. As respects losses which were first reported to the Company during the period January 1, 1986 to December 31, 1991 and are first reported to the Reinsurer during the term of this Agreement, the Company shall retain for its own account and pay under one or more of the Company's policies the first $2,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $2,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $3,000,000 resulting from each and every loss. The coverage provided hereunder shall be no narrower nor broader in scope than that which was provided to the Company under their Second Excess of Loss Reinsurance Agreement in force for the same period (see attached Cover Note Numbers 10710-003/86, 01-87-0021, 01-88-0021, 01-89-0021, 01-90-0021 and 01-91-0021).
A.3. As respects policies in force during the term of this Agreement covering losses from Professional and Business Liability policies for Hospitals and Errors and Omissions Liability policies for Managed Care Organizations, the Company shall retain for its own account and pay under one or more of the Company's policies the first $2,000,000 ultimate net loss, each and every loss each policy and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $2,000,000, each and every loss each policy, but the Reinsurer's maximum liability shall not exceed $3,000,000 resulting from each and every loss each policy. It is understood that the Maximum Annual Aggregate Amount recoverable under A.1., A.2. and A.3. combined is $9,000,000 in all during the period of this Agreement.
LIMITS OF COVER. A. 1. The Company shall retain for its own account and pay under one or more of the Company's policies the first $1,000,000 ultimate net loss, each and every loss and the Reinsurer agrees to reimburse the Company for the amount of ultimate net loss paid in excess of $1,000,000, each and every loss, but the Reinsurer's maximum liability shall not exceed $1,000,000 resulting from each and every loss as respects Physicians and Surgeons Comprehensive Professional and Business Liability policies, including Clinics and Clinical Laboratories, Errors and Omissions Liability policies for Managed Care Organizations and/or Directors and Officers Liability arising from any one
