Common use of Other Reinsurance Clause in Contracts

Other Reinsurance. A. The Company shall maintain in force or shall be deemed to have maintained in force $1,112,500 excess of $500,000 as respects any one risk, each loss (subject to a $6,675,000 aggregate limit) per risk treaty reinsurance, recoveries under which shall inure to the benefit of this Contract, for policies: 1. Classified by the Company as Homeowners business; and 2. Covering risks with a total insured value greater than $500,000 (property coverages only, including Personal Property coverage and Extensions of Coverage as defined in the Company’s policies), subject to the exclusions of such per risk treaty. B. The Company shall be permitted to carry facultative reinsurance on any risk subject hereunder, recoveries under which shall inure to the benefit of this Contract. C. The Company shall be permitted to carry other treaty reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

Appears in 3 contracts

Samples: Residential Quota Share Reinsurance Contract (Homeowners of America Holding Corp), Reinsurance Contract (Homeowners of America Holding Corp), Reinsurance Contract (Homeowners of America Holding Corp)

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Other Reinsurance. A. The Company shall maintain in force or shall be deemed to have maintained in force $1,112,500 excess of $500,000 as respects any one risk, each loss (subject to a $6,675,000 12,237,500 aggregate limit) per risk treaty reinsurance, recoveries under which shall inure to the benefit of this Contract, for policies: 1. Classified by the Company as Homeowners business; and 2. Covering risks with a total insured value greater than $500,000 (property coverages only, including Personal Property coverage and Extensions of Coverage as defined in the Company’s 's policies), subject to the exclusions of such per risk treaty. B. The Company shall be permitted to carry facultative reinsurance on any risk subject hereunder, recoveries under which shall inure to the benefit of this Contract. C. The Company shall be permitted to carry other treaty reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

Appears in 2 contracts

Samples: Residential Quota Share Reinsurance Contract (Homeowners of America Holding Corp), Reinsurance Contract (Homeowners of America Holding Corp)

Other Reinsurance. A. The Company shall maintain in force or shall be deemed to have maintained in force $1,112,500 excess of $500,000 as respects any one risk, each loss (subject to a $6,675,000 3,337,500 aggregate limit) per risk treaty reinsurance, recoveries under which shall inure to the benefit of this Contract, for policies: 1. Classified by the Company as Homeowners business; and 2. Covering risks with a total insured value greater than $500,000 (property coverages only, including Personal Property coverage and Extensions of Coverage as defined in the Company’s policies), subject to the exclusions of such per risk treaty. B. The Company shall be permitted to carry facultative reinsurance on any risk subject hereunder, recoveries under which shall inure to the benefit of this Contract. C. The Company shall be permitted to carry other treaty reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

Appears in 2 contracts

Samples: Reinsurance Contract (Homeowners of America Holding Corp), Reinsurance Contract (Homeowners of America Holding Corp)

Other Reinsurance. A. The Company shall maintain in force or shall be deemed to have maintained in force $1,112,500 excess of $500,000 as respects any one risk, each loss (subject to a $6,675,000 12,237,500 aggregate limit) per risk treaty reinsurance, recoveries under which shall inure to the benefit of this Contract, for policies: 1. Classified by the Company as Homeowners business; and 2. Covering policies covering risks with a total insured value greater than $500,000 (property coverages only, including Personal Property coverage and Extensions of Coverage as defined in the Company’s 's policies), subject to the exclusions of such per risk treaty. B. The Company shall be permitted to carry facultative reinsurance on any risk subject hereunder, recoveries under which shall inure to the benefit of this Contract. C. The Company shall be permitted to carry other treaty reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

Appears in 2 contracts

Samples: Reinsurance Contract (Homeowners of America Holding Corp), Reinsurance Contract (Homeowners of America Holding Corp)

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Other Reinsurance. A. The Company shall maintain in force or shall be deemed to have maintained in force $1,112,500 excess of $500,000 as respects any one risk, each loss (subject to a $6,675,000 12,237,500 aggregate limit) per risk treaty reinsurance, recoveries under which shall inure to the benefit of this Contract, for policies: 1. Classified by the Company as Homeowners business; and 2. Covering policiescovering risks with a total insured value greater than $500,000 (property coverages only, including Personal Property coverage and Extensions of Coverage as defined in the Company’s 's policies), subject to the exclusions of such per risk treaty. B. The Company shall be permitted to carry facultative reinsurance on any risk subject hereunder, recoveries under which shall inure to the benefit of this Contract. C. The Company shall be permitted to carry other treaty reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

Appears in 1 contract

Samples: Reinsurance Contract (Homeowners of America Holding Corp)

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