Misstatement of Fact. In the event of a change in the amount payable under a Reinsured Policy due to a misstatement of fact, the Reinsurer’s liability with respect to such Reinsured Policy will change proportionately. Such Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and such other terms based on the correct facts, and the proper adjustment for the difference in Reinsurance Premiums, without interest, will be made.
Appears in 8 contracts
Samples: Funds Withheld Coinsurance and Modified Coinsurance Agreement (Midwest Holding Inc.), Master Letter Agreement (Midwest Holding Inc.), Funds Withheld Coinsurance and Modified Coinsurance Agreement (Midwest Holding Inc.)
Misstatement of Fact. In the event of a change in the amount payable under a Reinsured Policy due to a misstatement of fact, the Reinsurer’s liability with respect to such Reinsured Policy will change proportionately. Such Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and such other terms based on the correct facts, and the proper adjustment for the difference in Reinsurance Premiums, without interest, will be made.
Appears in 6 contracts
Samples: Reinsurance Agreement (Unum Group), Reinsurance Agreement (Unum Group), Reinsurance Agreement (Unum Group)
Misstatement of Fact. In the event of a change in the amount payable under a Reinsured Policy due to a misstatement of fact, the Reinsurer’s liability with respect to such Reinsured Policy will change proportionately. Such The Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and such other terms based on the correct facts, and the proper adjustment for the difference in Reinsurance Premiums, without interest, will be made.
Appears in 3 contracts
Samples: Reinsurance Agreement (SEPARATE ACCOUNT B OF VENERABLE INSURANCE & ANNUITY Co), Funds Withheld Coinsurance and Modified Coinsurance Agreement (SEPARATE ACCOUNT B OF VENERABLE INSURANCE & ANNUITY Co), Funds Withheld Coinsurance and Modified Coinsurance Agreement (SEPARATE ACCOUNT B OF VENERABLE INSURANCE & ANNUITY Co)
Misstatement of Fact. In the event of a change in the amount payable under a Reinsured Policy due to a misstatement of in fact, the Reinsurer’s liability with respect to such Reinsured Policy will change proportionately. Such The Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and such other terms based on the correct facts, and the proper adjustment for the difference in Reinsurance Premiums, without interest, will be made.
Appears in 2 contracts
Samples: Coinsurance Agreement (American Equity Investment Life Holding Co), Coinsurance Agreement (American Equity Investment Life Holding Co)
Misstatement of Fact. In the event of a change in the amount payable under a Reinsured Policy due to a misstatement of factfact by a policyholder, the Reinsurer’s liability with respect to such Reinsured Policy will change proportionately. Such Reinsured Policy will be rewritten from commencement on the basis of the adjusted amounts using premiums and such other terms based on the correct facts, and the proper adjustment for the difference in Reinsurance Premiums, without interest, will be made.
Appears in 2 contracts
Samples: Coinsurance Agreement (US Alliance Corp), Coinsurance Agreement (Midwest Holding Inc.)
