POLICY RESCISSION. If it is determined that a policy reinsured under this Agreement should be rescinded due to misrepresentation by the policyholder or the insured, the Reinsurer will pay its share of reasonable investigation and legal expenses connected with the rescission action. The Reinsurer will not reimburse the Ceding Company for routine expenses, including but not limited to the Ceding Company’s home office expenses, compensation of salaried officers and employees, and any legal expenses other than third party expenses incurred by the Ceding Company.
Appears in 4 contracts
Samples: Yrt Reinsurance Agreement (Farmers Variable Life Separate Account A), Guaranteed Issue and Fully Underwritten (COLI VUL-4 Series Account of First Great-West Life & Annuity Insurance CO), Automatic/Facultative Yrt Reinsurance Agreement (National Variable Life Insurance Account)
POLICY RESCISSION. If it is determined that a policy reinsured under this Agreement should be rescinded due to misrepresentation by the policyholder or the insured, the Reinsurer will pay its share of reasonable investigation and legal expenses connected with the rescission action. The Reinsurer will not reimburse the Ceding Company for routine expenses, including but not limited to the Ceding Company’s 's home office expenses, compensation of salaried officers and employees, and any legal expenses other than third party expenses incurred by the Ceding Company.
Appears in 3 contracts
Samples: Reinsurance Agreement (Ameritas Variable Separate Account V), Reinsurance Agreement (Nationwide VLI Separate Account-7), Facultative Yrt Reinsurance Agreement (National Variable Life Insurance Account)
POLICY RESCISSION. If it is determined that a policy reinsured under this Agreement should be rescinded due to misrepresentation by the policyholder or the insuredInsured, the Reinsurer will must pay its share of reasonable investigation and legal expenses connected with the rescission action. The Reinsurer will is not reimburse liable for reimbursing the Ceding Company for routine expenses, including but not limited to the Ceding Company’s home office expenses, compensation of salaried officers and employees, and any legal expenses other than third party expenses incurred by the Ceding Company.
Appears in 1 contract
Samples: Ance Agreement (Farmers Variable Life Separate Account A)
POLICY RESCISSION. If it is determined that a policy reinsured under this Agreement should be rescinded due to misrepresentation by the policyholder or the insured, the Reinsurer will pay its share of reasonable investigation and legal expenses connected with the rescission action. The Reinsurer will not reimburse the Ceding Company for routine expenses, including but not limited to the Ceding Company’s 's home office expenses, compensation of salaried officers and employees, and any legal expenses other than third party expenses incurred by the Ceding Company.. (019)11220-00-00 00 2/16/2011
Appears in 1 contract
Samples: Reinsurance Agreement (Ameritas Variable Separate Account V)
POLICY RESCISSION. If it is determined that a policy Policy reinsured under this Agreement should be rescinded due to misrepresentation by the policyholder policy owner or the insured, the Reinsurer will pay its share of reasonable investigation and legal expenses connected with the rescission action. The Reinsurer will not reimburse the Ceding Company for routine expenses, including but not limited to the Ceding Company’s home office expenses, compensation of salaried officers and employees, and any legal expenses other than third party expenses incurred by the Ceding Company.
Appears in 1 contract
Samples: Automatic/Facultative (Minnesota Life Individual Variable Universal Life Account)
