Common use of Powers of the Reinsurance Manager Clause in Contracts

Powers of the Reinsurance Manager. Without limiting the generality of Section 2.02, but subject to the Underwriting Guidelines, the terms and conditions of this Agreement, the oversight of the boards of directors of Parent and its subsidiaries and any Applicable Requirement, the Reinsurance Manager shall have the full discretionary authority, power and right, for the account of Blue Capital Re, to: (a) prepare and negotiate all agreements and related documents for the risks being ceded or retroceded to or from, or otherwise assumed or ceded by, Blue Capital Re; (b) determine premium rates and other underwriting terms and conditions with respect to the underwriting of such risks being ceded or retroceded to or from, or otherwise assumed by, Blue Capital Re; (c) execute, in the name and on behalf of Blue Capital Re, all financial reports and other filings required by any Competent Regulatory Authority, such execution to be binding upon Blue Capital Re; (d) establish, determine and agree upon commissions and fees to be paid to producers, intermediaries and brokers; (e) manage the administrative functions and day-to-day reinsurance operations of Blue Capital Re including: (i) invoicing and collecting amounts due to Blue Capital Re; (ii) paying brokerage fees, Federal excise taxes and other reinsurance-related obligations of Blue Capital Re; (iii) reviewing and paying claims on behalf of Blue Capital Re and conducting any claims audits on behalf of Blue Capital Re; and (iv) depositing into the Accounts amounts paid to Blue Capital Re, including reinsurance premiums, interest and fees, and withdrawing from the Accounts funds for the payment of liabilities of Blue Capital Re, including claims, payments, regulatory licensing and filing fees, acquisition and claims-related expenses, accounting and audit fees and expenses, and administrative and management expenses; and (f) provide any administrative and managerial services necessary to the conduct of the day-to-day affairs of Blue Capital Re, including service as Blue Capital Re’s principal representative and such other functions as may be required under Applicable Requirements.

Powers of the Reinsurance Manager. Without limiting the generality of Section 2.02, but subject to the Underwriting Guidelines, the terms and conditions of this Agreement, the oversight of the boards of directors of Parent and its subsidiaries and any Applicable Requirement, the Reinsurance Manager shall have the full discretionary authority, power and right, for the account of Blue Capital Re, to: (a) prepare and negotiate all agreements and related documents for the risks being ceded or retroceded to or from, or otherwise assumed or ceded by, Blue Capital Re; (b) determine premium rates and other underwriting terms and conditions with respect to the underwriting of such risks being ceded or retroceded to or fromto, or otherwise assumed by, Blue Capital Re; (c) execute, in the name and on behalf of Blue Capital Re, all financial reports and other filings required by any Competent Regulatory Authority, such execution to be binding upon Blue Capital Re; (d) establish, determine and agree upon commissions and fees to be paid to producers, intermediaries and brokers; (e) manage the administrative functions and day-to-day reinsurance operations of Blue Capital Re including: (i) invoicing and collecting amounts due to Blue Capital Re; (ii) paying brokerage fees, Federal excise taxes and other reinsurance-related obligations of Blue Capital Re; (iii) reviewing and paying claims on behalf of Blue Capital Re and conducting any claims audits on behalf of Blue Capital Re; and (iv) depositing into the Accounts amounts paid to Blue Capital Re, including reinsurance premiums, interest and fees, and withdrawing from the Accounts funds for the payment of liabilities of Blue Capital Re, including claims, payments, regulatory licensing and filing fees, acquisition and claims-related expenses, accounting and audit fees and expenses, and administrative and management expenses; and (f) provide any administrative and managerial services necessary to the conduct of the day-to-day affairs of Blue Capital Re, including service as Blue Capital Re’s principal representative and such other functions as may be required under Applicable Requirements.