Non-contractual Increases. If the Initial Death Benefit is increased as a result of a non-contractual change, the increase will be underwritten by the Ceding Company in accordance with the underwriting guidelines, practices, and procedures for risk selection conveyed to the Reinsurer prior to or at the time of pricing, or any Material Changes consented to in writing by the Reinsurer, which are still in use on the coverage commencement date. Such increases will be considered New Business and be subject to all provisions under this Agreement. If a request for an increase in the amount of insurance is made for a reinsured policy and the insured meets the Ceding Company's underwriting requirements and the increased amount is approved under the policy, then the increase will be added to the policy as a new layer. The increased risk amount will have a separate benefit or cession record and its own effective date. Reinsurance premiums for the increased risk amounts only, will be first-year premiums using the rates as stated in Exhibit D. The Reinsurer's approval is required if the Original Policy was reinsured on a Facultative basis or if the new amount will cause the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C to be exceeded. The Reinsurer will assume its share of the entire amount in excess of the Ceding Company's Full Retention. Premiums for the additional reinsurance will be based on the issue age, mortality rating, underwriting class and duration since the time of underwriting of the increase. If the reinsurance is Automatic, the Automatic Binding Limits or Jumbo Limits shown in Exhibit C must not be exceeded. If the increase is Facultative, the amount of reinsurance must not exceed the Ultimate Amount included in the Facultative offer.
Non-contractual Increases a. For a single Reinsured Policy the amount of insurance may only be increased as a result of a non-contractual change if the increase was "fully" underwritten by the Ceding Company. For this purpose, "fully" underwritten means that the increased coverage amount meets the following criteria:
Non-contractual Increases. If the amount of life insurance on a Policy is increased as the result of a non-contractual change, such an increase shall be considered as new business and shall be subject to all terms and conditions set forth in Article 3, “Automatic Reinsurance” or Article 4, “Facultative Reinsurance” herein. The Reinsurer’s or facultative underwriting Designee’s approval is required if the original Policy was reinsured on a Facultative Reinsurance basis, or if the new amount of coverage causes the Reinsured Amount on the insured’s life to exceed either the Automatic Acceptance Limit or the Jumbo Limits as specified in Schedule C, “Reinsurance Limits”.
Non-contractual Increases. If the amount of insurance is increased as a result of a noncontractual change, the increase must be underwritten by the Ceding Company in accordance with its customary standards and procedures and then will be considered new reinsurance under this Agreement.
a. Generali USA’s approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits specified in Schedule A.
b. The Ceding Company and Generali USA will share the increased amount proportionately. Once the Ceding Company’s maximum retention has been reached, the remaining amount will be reinsured on an [excess/proportional] basis. Premiums for the additional reinsurance will be [at the new-issue rate from the point of increase/ point-in-scale from the original issue date].
Non-contractual Increases a. If for a single Reinsured Policy the amount of insurance is increased as a result of a non-contractual change, the increase must be underwritten by the Ceding Company in accordance with its customary standards and procedures and then will be considered new reinsurance under this Agreement.
i. Generali USA's approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits specified in Schedule A.
ii. The Ceding Company and Generali USA will share the increased amount proportionately up to the Ceding Company's maximum retention. Once the Ceding Company's maximum retention has been reached, the remaining amount will be reinsured on a proportional basis. Premiums for the additional reinsurance will be at the new-issue rate from the point of increase.
b. Non-contractual increases applicable to more than one Reinsured Policy must be submitted to Generali USA for approval, which shall not be unreasonably withheld, prior to implementation.
Non-contractual Increases. If the amount of insurance is increased as a result of a non-contractual change, the increase shall be underwritten by the Company in accordance with its customary standards and procedures and shall be considered new reinsurance under this Agreement. The Reinsurer's approval is required if the original policy was reinsured on a facultative basis or if the new amount shall cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit A. The Reinsurer shall assume its share of the entire amount in excess of the Company's applicable retention. Premiums for the additional reinsurance shall be point-in-scale from the original issue date.
Non-contractual Increases. If the amount of life insurance on a Policy is increased as the result of a non- contractual change, the increase is subject to new underwriting and shall be underwritten by the Company in accordance with its normal underwriting standards and practices. For purposes of this Agreement, such an increase shall be considered as new reinsurance and shall be subject to all terms and conditions set forth herein. The Reinsurer's or facultative underwriting Designee's approval is required if the original Policy was reinsured on a Facultative Reinsurance basis, or if the new amount of coverage causes the Reinsured Amount on the insured's life to exceed either the Automatic Acceptance Limit or the Jumbo Limits as specified in Schedule B.
Non-contractual Increases. If the Initial Death Benefit is increased as a result of a non-contractual change, the increase will be underwritten by the Ceding Company in accordance with the underwriting guidelines, practices, and procedures in effect at the time of the increase. The Reinsurer’s approval is required if the Original Policy was reinsured on a Facultative basis or if the new amount will cause the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C to be exceeded.
Non-contractual Increases. For purposes of this Agreement, non – contractual increases will include increases on policies not previously reinsured under this Agreement, regardless of the issue date of the original policy, as well as policies reinsured under this Agreement, if the amount of insurance is increased as a result of a noncontractual change, the increase will be fully underwritten by the Company in accordance with its customary standards and procedures and will be considered new reinsurance under this Agreement. The Reinsurer’s written approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsured amount on the life to exceed either the Automatic Binding Limits or the Jumbo Limits shown in Exhibit C. Premiums for the additional reinsurance will be at the new issue rate from the point of increase.
Non-contractual Increases. If the initial death benefit is increased as a result of a non-contractual change, the increase will be underwritten by the Ceding Company in accordance with it's standard underwriting guidelines, practices, and procedures for risk selection, as communicated to the Reinsurer at the time of pricing, as well as any material changes to these guidelines, practices, and procedures that have been consented to in writing by the Reinsurer. Such increases will be considered new reinsurance under this Agreement. The Reinsurer's approval is required if the original policy was reinsured on a facultative basis or if the new amount will cause the reinsurance death benefit on the life to exceed either the automatic binding limits or the jumbo limits shown in Exhibit C. Both parties will share the increased amount proportionately. If the reinsurance is automatic, the amount of reinsurance must not exceed the automatic binding limits or jumbo limits shown in Exhibit C. If reinsurance is facultative, the ultimate amount of reinsurance must not exceed the amount included in the facultative offer. Premiums for the additional reinsurance will be based on the issue age, mortality rating, underwriting class and duration since the time of underwriting of the increase.
