Multiple Reinsurers Clause Samples
The "Multiple Reinsurers" clause defines how responsibilities and obligations are managed when more than one reinsurer is involved in a reinsurance agreement. It typically outlines the proportion of risk each reinsurer assumes, how claims are to be handled among the parties, and the process for communication and payment. For example, it may specify that each reinsurer is only liable for their share of losses and premiums, and clarify procedures if disputes arise. This clause ensures clarity and coordination among all participating reinsurers, preventing confusion and disputes over liability and payment in the event of a claim.
Multiple Reinsurers. If a risk is shared by more than one reinsurer, the Reinsurer's percentage of any increased or reduced reinsurance will be the same as its initial percentage of the reinsurance for that risk.
Multiple Reinsurers. If reinsurance of a risk is shared by more than one reinsurer, the Reinsurer's percentage of any increased or reduced reinsurance will be the same as its initial percentage of the reinsurance for that risk unless specified otherwise in Schedule B or agreed upon by the Reinsurer. Allocated Retention Pool (Excess Risks) -- Effective October 1, 2008 Between HLIC and Canada Life
Multiple Reinsurers. If more than one reinsurer is involved in the same dispute, all such reinsurers shall constitute and act as one party for purposes of this clause and communications shall be made by Southern Mutual to each of the reinsurers constituting the one party, provided, however, that nothing therein shall impair the rights of such reinsurers to assert several, rather than joint defenses or claims, nor be construed as changing the liability of the reinsurers under the terms of this Agreement from several to joint.
Multiple Reinsurers. If a risk is shared by more than one reinsurer, the Reinsurer's percentage of any increased or reduced reinsurance will be the same as its initial percentage of the reinsurance for that risk. Single Life Enhanced Standard Pool Between HLIC and RGA Effective 12/01/2002