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
Sources: 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 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 8 contracts
Sources: Modified Coinsurance Agreement (Athene Annuity & Life Co), Modified Coinsurance Agreement (Athene Annuity & Life Co), Modified Coinsurance Agreement (Athene Annuity & Life Co)
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
Sources: 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 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
Sources: Coinsurance Agreement (US Alliance Corp), 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 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
Sources: 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 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, as mutually agreed between the Parties, without interest, will be made.
Appears in 1 contract
Sources: Coinsurance Agreement (Unum Group)