NET RETAINED LINES. A. This Agreement applies to only that portion of any insurance which the Company retains net for its own account; and in calculating the amount of any loss hereunder and also in computing the amount or amounts in excess of which this Agreement attaches, only loss or losses in respect of that portion of any insurance which the Company retains net for its own account shall be included.
B. The amount of the Reinsurer's liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Company to collect from any other underwriters, whether specific or general, any amount which may become due from them, whether such inability arises from the insolvency of such other underwriters or otherwise.
NET RETAINED LINES. This Agreement applies only to that portion of any policy which the Company retains net for its own account and in calculating the amount of any loss hereunder and in computing the amount or amounts in excess of which this Agreement attaches, only loss or losses in respect of that portion of any policy which the Company retains net for its own account shall be included. The amount of Reinsurers’ liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Company to collect from any other Reinsurer(s), whether specific or general, any amounts which may have become due from such Reinsurer(s), whether such inability arises from the insolvency of such other Reinsurer(s) or otherwise.
NET RETAINED LINES. This Contract applies only to that portion of any insurance covered by this Contract which the Reassured retains net for its own account and in calculating the amount of any loss hereunder and also in computing the amount in excess of which this Contract attaches, only loss or losses in respect of that portion of any insurance which the Reassured retains net for its own account shall be included. It is understood and agreed that the amount of the Reinsurers' liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Reassured to collect from any other reinsurers, whether specific or general, any amounts which may have become due from them, whether such inability arises from the insolvency of such other reinsurers or otherwise.
NET RETAINED LINES. This Agreement applies only to that portion of any reinsurance or any Extra Contractual Obligations or Excess of Original Policy Limits which the Retrocedant retains net for its own account, and in calculating the amount of any loss hereunder and also in computing the amount or amounts in excess of which this Agreement attaches, only loss or losses in respect of that portion of any reinsurance or any Extra Contractual Obligations or Excess of Original Policy Limits which the Retrocedant retains nets for its own account shall be included. The amount of the Retrocessionaires liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Retrocedant to collect from any other Retrocessionaire, whether specific or general, any amounts which may have become due from them, whether such inability arises from the insolvency of such other Retrocessionaire or otherwise.
NET RETAINED LINES. A. This Contract applies only to that portion of any bond or policy which the Company retains net for its own account, and in calculating the amount of any loss hereunder and also in computing the amount or amounts in excess of which this Contract attaches, only loss or losses in respect of that portion of any bond or policy which the Company retains net for its own account shall be included.
B. The amount of the Reinsurer's liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Company to collect from any other reinsurer(s), whether specific or general, any amounts which may have become due from such reinsurer(s), whether such inability arises from the insolvency of such other reinsurer(s) or otherwise.
NET RETAINED LINES. This Agreement applies only to that portion of any policy which the Company retains net for its own account and in calculating the amount of any loss hereunder and in computing the amount or amounts in excess of which this Agreement attaches, only loss or losses in respect of that portion of any policy which the Company retains net for its own account shall be included. However, it is understood and agreed that, in respect of losses recoverable under Part 3 hereof only, the foregoing provision shall separately apply to the liability of each individual programme covered. The amount of Reinsurers’ liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Company to collect from any other Reinsurer(s), whether specific or general, any amounts which may have become due from such Reinsurer(s), whether such inability arises from the insolvency of such other Reinsurer(s) or otherwise.
NET RETAINED LINES. A. This Contract applies only to that portion of any Policy which the Company retains net for its own account (prior to deduction of any underlying reinsurance specifically permitted in this Contract), and in calculating the amount of any loss hereunder and also in computing the amount or amounts in excess of which this Contract attaches, only loss or losses in respect of that portion of any Policy which the Company retains net for its own account shall be included.
B. The amount of the Reinsurer’s liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Company to collect from any other reinsurer(s), whether specific or general, any amounts which may have become due from such reinsurer(s), whether such inability arises from the insolvency of such other reinsurer(s) or otherwise.
NET RETAINED LINES. A. This Contract applies only to such portion of any obligation that the Company retains net for its own account (prior to the deduction of any underlying reinsurance specifically permitted in this Contract). In calculating the amount of any loss hereunder and in computing the amount in excess of which this Contract attaches only loss in respect of that portion of any insurance, or reinsurance which the Company retains net shall be included.
B. It is agreed that the amount of the Subscribing Reinsurer’s liability hereunder in respect of any loss shall not be increased by reason of the inability of the Company to collect from any other reinsurer, whether specific or general, any amount which may have Effective: January 1, 2009 Page 7 of 54 2009 Property Catastrophe Excess of Loss Contract — $825m x $500m become due from it whether such inability arises from the insolvency of such other reinsurer or otherwise.
C. Allocation of losses and expenses to Legal Entities other than the Company pursuant to inter-company reinsurance among the Legal Entities and the Company shall be entirely disregarded for all purposes of this Contract. Article 9 — Florida Hurricane Catastrophe Fund (LM-02900-2006.04.14-P)(AM)
A. Any loss reimbursement the Company or a Legal Entity receives under the Florida Hurricane Catastrophe Fund (“FHCF”) shall apply as follows:
1. Except as provided in subparagraph 2. below, any such loss reimbursement shall inure solely to the benefit of the Company and shall be entirely disregarded in applying all of the provisions of this Contract.
2. If one or more Loss Occurrences commencing during the term of this Contract result(s) in recoveries made by the Company or a Legal Entity under this Contract and the FHCF, and such recoveries, together with any other reinsurance recoveries made by the Company applicable to said Loss Occurrence(s), exceed the amount permitted by Florida law, any amount in excess thereof shall reduce the Ultimate Net Loss subject to this Contract for the Loss Occurrence(s) to which the recoveries apply.
B. For purposes hereof, if a loss reimbursement received by the Company or a Legal Entity under the FHCF is based on the Company’s or a Legal Entity’s losses in more than one Loss Occurrence and the FHCF does not designate the amount allocable to each Loss Occurrence, the reimbursement shall be prorated in the proportion that the Company’s and the Legal Entity’s losses in each Loss Occurrence bear to the Company’s and the Legal En...
NET RETAINED LINES. This Agreement applies only to that portion of Business Covered which the Company retains net for its own account after recoveries from specific excess reinsurance, property catastrophe reinsurance and facultative reinsurance, if any.
NET RETAINED LINES. This Agreement applies only to that portion of any reinsurance which the Ceding Company retains net for its own account, and in calculating the amount of any loss hereunder and also in computing the amount or amounts in excess of which this Agreement attaches, only loss or losses in respect of that portion of any insurance or reinsurance which the Ceding Company retains net for its own account shall be included. The amount of the Reinsurer’s liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Ceding Company to collect from any other reinsurer(s), whether specific or general, any amounts which may have become due from such reinsurer(s), whether such inability arises from the insolvency of such other reinsurer(s) or otherwise.
