Mortality Rating Changes Clause Samples
The Mortality Rating Changes clause defines how adjustments to mortality ratings are handled within an insurance or reinsurance agreement. Typically, this clause outlines the circumstances under which the mortality assumptions used to price or administer a policy may be revised, such as in response to updated actuarial data or changes in the insured population's risk profile. By specifying the process for implementing these changes, the clause ensures that both parties have a clear understanding of how future shifts in mortality expectations will affect premiums, benefits, or reserves, thereby managing financial risk and maintaining fairness in the contract.
Mortality Rating Changes. On Facultative Reinsurance, if the Ceding Company wishes to reduce the mortality rating or otherwise improve the risk class, such change will be subject to the Reinsurer's approval. On Automatic Reinsurance, the Reinsurer will accept this change if the change qualifies under the underwriting practices and guidelines described in Schedules C, D, or E, as applicable. Allocated Retention Pool -- Effective 10/1/2008 Between HLIC and Swiss Re
Mortality Rating Changes. If the Ceding Company wishes to reduce the mortality rating or otherwise improve the risk class, the Reinsurer shall accept this change if the change qualifies under the underwriting practices and guidelines described in Schedules C, D, or E, as applicable.