Common use of Premium and Claims Accounting Clause in Contracts

Premium and Claims Accounting. The premiums to be paid to the Reinsurer by the Company for reinsurance shall be in accordance with the terms set out in Exhibits B, C and D and are a condition precedent to coverage under the Agreement. During each accounting period, the Company undertakes to send to the Reinsurer, Billing Statements as set out in Exhibit F, showing all first year and renewal premiums that become due during the next accounting period. Also included will be any adjustments made necessary by changes or corrections to reinsurance previously reported. For all claims paid by the Company within the accounting period, the Company will submit to the Reinsurer a Statement of Reinsured Claims Collected, as referenced in Exhibit F. This is an itemized listing of benefits including the ceded death benefit, plus the Reinsurer’s proportionate share of the interest and expenses paid by the Company, that have been netted off the Reinsurer’s monthly Billing Statement(s). If the statement balance calculated is due to the Reinsurer, the Company shall forward payment in settlement together with the statements. When netting claims against premiums in the normal course of business, if the balance is due to the Company, the Reinsurer shall forward payment in settlement within thirty (30) days of receipt of the statements. For balances remaining unpaid longer than thirty (30) days after the delivery to the Reinsurer of the request for payment, the Company reserves the right to charge interest on the outstanding balance. The outstanding balance will incur interest calculated from that date using the “3-month” U.S. Treasury Xxxx rate reported for the last working date of the calendar month preceding the request for payment in the Wall Street Journal or a comparable publication. If for any reason other than contractual surrenders the Company returns premiums to the policyholder, the Reinsurer will return its proportional share of the premiums it has received from the Company in respect of any policy for which premiums have been returned. The Company also reserves the right to net any balances that remain unpaid for more than thirty (30) days after the delivery of the request for payment from the next reinsurance billing statement.

Premium and Claims Accounting. The Company shall pay premiums to be paid to the Reinsurer by the Company for reinsurance shall be Covered Policies in accordance with the terms set out in Exhibits B, C and D and are the payment of such premiums is, subject to Article III, section 2, a condition precedent to coverage under the this Agreement. During For each accounting period, the Company undertakes to shall send to the Reinsurer, Reinsurer Billing Statements as set out in Exhibit F, showing all first year and renewal premiums that become due during the next that accounting period. Also included will be , including any adjustments made necessary by changes or corrections to reinsurance previously reported. For all claims paid by the Company within the accounting period, the Company will shall submit to the Reinsurer a Statement of Reinsured Claims Collected, as referenced set forth in Exhibit F. This statement is an itemized listing of benefits including the ceded death benefit, plus the Reinsurer’s proportionate share of the interest and expenses paid by the Company, that have been netted off the Reinsurer’s monthly Billing Statement(s). If the statement balance so calculated is due to the Reinsurer, the Company shall forward payment in settlement together with the statements. When netting claims against premiums in the normal course of business, if If the balance is due to the Company, the Reinsurer shall forward payment in settlement within thirty (30) days of receipt of the statementsapplicable statement. For balances remaining unpaid longer than thirty (30) days after the delivery to the Reinsurer of the request for paymentapplicable statement, the Company reserves the right to charge interest on the outstanding balance. The outstanding balance will incur interest calculated from that date using the “3-month” U.S. Treasury Xxxx Bill rate reported for the last working date of the calendar month preceding the request for payment applicable statement in the Wall Street Journal or or, if the Wall Street Journal is no longer published, a comparable publication. If for any reason other than contractual surrenders the Company returns premiums to the policyholderpolicyholder of a Covered Policy for any reason other than surrenders provided under the contractual terms of the Covered Policy, the Reinsurer will shall return its proportional share of the premiums (less allowances) it has received from the Company in respect of any policy Covered Policy for which premiums have been returned. The Company also reserves the right to net any balances hereunder that remain unpaid for more than thirty (30) days after the delivery of the request for payment each applicable statement from the next reinsurance billing statementBilling Statement.

Premium and Claims Accounting. The premiums to be paid to the Reinsurer by the Company for reinsurance shall be in accordance with the terms set out in Exhibits B, C and D and are a condition precedent to coverage under the Agreement. Exhibit C. During each accounting period, the Company undertakes to send to the Reinsurer, Reinsurer Billing Statements as set out in Exhibit FE, showing all first year and renewal premiums that become due during the next previous accounting period. Also included will be any adjustments made necessary by changes in reinsurance effective during the previous period or changes due to any corrections to reinsurance previously reporteda previous report. For all claims paid by the Company within the accounting period, the Company will submit to the Reinsurer a Statement of Reinsured Claims Collected, as referenced in Exhibit F. . This is an itemized listing of benefits including the ceded death benefit, plus the Reinsurer’s proportionate share of the interest and expenses paid by the Company, that have been netted off the Reinsurer’s monthly Billing Statement(s). The balance of account due shall then become payable. If the statement balance so calculated is due to the Reinsurer, the Company shall forward payment in settlement together with the statements. When netting claims against premiums in the normal course of business, if If the balance is due to the Company, the Reinsurer shall forward payment in settlement within thirty forty-five (3045) days of receipt of the statements. For balances remaining unpaid longer than thirty forty-five (3045) days after the delivery to the Reinsurer Reinsurer’s receipt of the request for payment, the Company reserves the right to charge interest on the outstanding balance. The outstanding balance will incur interest calculated from that date using the “3-3 month” U.S. Treasury Xxxx rate reported for the last working date of the calendar month preceding the request for payment in the Wall Street Journal or a comparable publication. If for any reason other than contractual surrenders the Company returns premiums to the policyholder, the Reinsurer will return its proportional share of the premiums it has received from the Company in respect of any policy for which premiums have been returned. The Company also reserves the right to net any balances that undisputed balances, which remain unpaid for more than thirty forty-five (3045) days after the delivery receipt of the request for payment payment, from the next reinsurance billing statement.

Premium and Claims Accounting. The Company shall pay premiums to be paid to the Reinsurer by the Company for reinsurance shall be Covered Policies in accordance with the terms set out in Exhibits B, C and D and are the payment of such premiums is, subject to Article III, Section 2, a condition precedent to coverage under the this Agreement. During The Reinsurer agrees that the Company may, in the normal course of business, net claims from reinsurance premiums due as long as the Company is in compliance with this Article III and Article VII. For each accounting period, the Company undertakes to shall send to the Reinsurer, Reinsurer Billing Statements as set out in Exhibit F, showing all first year and renewal premiums that become due during the next that accounting period. Also included will be , including any adjustments made necessary by changes or corrections to reinsurance previously reported. For all claims paid by the Company within the accounting period, the Company will shall submit to the Reinsurer a Statement of Reinsured Claims Collected, as referenced set forth in Exhibit F. This statement is an itemized listing of benefits including the ceded death benefit, plus the Reinsurer’s proportionate share of the interest and expenses paid by the Company, that have been netted off the Reinsurer’s monthly Billing Statement(s). If the statement balance so calculated is due to the Reinsurer, the Company shall forward payment in settlement together with the statements. When netting claims against premiums in the normal course of business, if If the balance is due to the Company, the Reinsurer shall forward payment in settlement within thirty (30) days of receipt of the statementsapplicable statement. For balances remaining unpaid longer than thirty sixty (3060) days after the delivery to the Reinsurer of the request for paymentapplicable statement, the Company reserves the right to charge interest on the outstanding balance. The outstanding balance will incur interest calculated from that date using the “3-month” U.S. Treasury Xxxx rate reported for the last working date of the calendar month preceding the request for payment applicable statement in the Wall Street Journal or or, if the Wall Street Journal is no longer published, a comparable publication. If for any reason other than contractual surrenders the Company returns premiums to the policyholderpolicyholder of a Covered Policy for any reason other than surrenders provided under the contractual terms of the Covered Policy, the Reinsurer will shall return its proportional share of the premiums (less allowances) it has received from the Company in respect of any policy Covered Policy for which premiums have been returned. The Company also reserves the right to net any balances hereunder that remain unpaid for more than thirty (30) days after the delivery of the request for payment each applicable statement from the next reinsurance billing statementBilling Statement.

Premium and Claims Accounting. The premiums to be paid to the Reinsurer by the Company for reinsurance shall be in accordance with the terms set out in Exhibits B, C and D and are a condition precedent to coverage under the Agreement. Exhibit C. During each accounting period, the Company undertakes to send to the Reinsurer, Reinsurer Billing Statements as set out in Exhibit FE, showing all first year and renewal premiums that become due during the next previous accounting period. Also included will be any adjustments made necessary by changes in reinsurance effective during the previous period or changes due to any corrections to reinsurance previously reporteda previous report. For all claims paid by the Company within the accounting period, the Company will submit to the Reinsurer a Statement of Reinsured Claims Collected, as referenced in Exhibit F. . This is an itemized listing of benefits including the ceded death benefit, plus the Reinsurer’s proportionate share of the interest and expenses paid by the Company, that have been netted off the Reinsurer’s monthly Billing Statement(s). The balance of account due shall then become payable. If the statement balance so calculated is due to the Reinsurer, the Company shall forward payment in settlement together with the statements. When netting claims against premiums in the normal course of business, if If the balance is due to the Company, the Reinsurer shall forward payment in settlement within thirty (30) days of receipt of the statements. For balances remaining unpaid longer than thirty (30) days after the delivery to the Reinsurer Reinsurer’s receipt of the request for payment, the Company reserves the right to charge interest on the outstanding balance. The outstanding balance will incur interest calculated from that date using the “3-3 month” U.S. Treasury Xxxx rate reported for the last working date of the calendar month preceding the request for payment in the Wall Street Journal or a comparable publication. If for any reason other than contractual surrenders the Company returns premiums to the policyholder, the Reinsurer will return its proportional share of the premiums it has received from the Company in respect of any policy for which premiums have been returned. The Company also reserves the right to net any balances that balances, which remain unpaid for more than thirty (30) days after the delivery receipt of the request for payment payment, from the next reinsurance billing statement.

Premium and Claims Accounting. The Company shall pay premiums to be paid to the Reinsurer by the Company for reinsurance shall be Covered Policies in accordance with the terms set out in Exhibits B, C and D and are the payment of such premiums is, subject to Article III, Section 2, a condition precedent to coverage under the this Agreement. During For each accounting period, the Company undertakes to shall send to the Reinsurer, Reinsurer Billing Statements as set out in Exhibit F, showing all first year and renewal premiums that become due during the next that accounting period. Also included will be , including any adjustments made necessary by changes or corrections to reinsurance previously reported. For all claims paid by the Company within the accounting period, the Company will shall submit to the Reinsurer a Statement of Reinsured Claims Collected, as referenced set forth in Exhibit F. This statement is an itemized listing of benefits including the ceded death benefit, plus the Reinsurer’s proportionate share of the interest and expenses paid by the Company, that have been netted off the Reinsurer’s monthly Billing Statement(s). If the statement balance so calculated is due to the Reinsurer, the Company shall forward payment in settlement together with the statements. When netting claims against premiums in the normal course of business, if If the balance is due to the Company, the Reinsurer shall forward payment in settlement within thirty (30) days of receipt of the statementsapplicable statement. For balances remaining unpaid longer than thirty sixty (3060) days after the delivery to the Reinsurer of the request for paymentapplicable statement, the Company reserves the right to charge interest on the outstanding balance. The outstanding balance will incur interest calculated from that date using the “3-month” U.S. Treasury Xxxx rate reported for the last working date of the calendar month preceding the request for payment applicable statement in the Wall Street Journal or or, if the Wall Street Journal is no longer published, a comparable publication. If for any reason other than contractual surrenders the Company returns premiums to the policyholderpolicyholder of a Covered Policy for any reason other than surrenders provided under the contractual terms of the Covered Policy, the Reinsurer will shall return its proportional share of the premiums (less allowances, if applicable) it has received from the Company in respect of any policy Covered Policy for which premiums have been returned. The Company also reserves the right to net any balances hereunder that remain unpaid for more than thirty (30) days after the delivery of the request for payment each applicable statement from the next reinsurance billing statementBilling Statement.

Premium and Claims Accounting. The premiums to be paid to the Reinsurer by the Company for reinsurance shall be in accordance with the terms set out in Exhibits B, C B-I and D and are a condition precedent to coverage under the AgreementB-II. During each accounting period, the Company undertakes to send to the Reinsurer, Reinsurer Billing Statements as set out in Exhibit FE, showing all first year and renewal premiums that become due during for the next accounting period. Also included will be any adjustments made necessary by changes or corrections to reinsurance previously reported. For all claims paid by the Company within the accounting period, the Company will submit to the Reinsurer a Statement of Reinsured Claims Collected, as referenced in Exhibit F. E. This is an itemized listing of benefits including the ceded death benefit, plus the Reinsurer’s proportionate share of the interest and expenses paid by the Company, that have been netted off the Reinsurer’s monthly Billing Statement(s). The balance of account due shall then become payable. If the statement balance so calculated is due to the Reinsurer, the Company shall forward payment in settlement together with the statements. When netting claims against premiums in the normal course of business, if If the balance is due to the Company, the Reinsurer shall forward payment in settlement within thirty (30( ) days of receipt of the statements. For balances remaining unpaid longer than thirty (30( ) days after the delivery to the Reinsurer Reinsurer’s receipt of the request for payment, the Company reserves the right to charge interest on the outstanding balance. The outstanding balance will incur interest calculated from the date that date the payment was due using the “3-3 month” U.S. Treasury Xxxx rate reported for the last working date of the calendar month preceding the request for payment in the Wall Street Journal or a comparable publication, plus %. If for any reason other than contractual Contractual surrenders the Company returns premiums to the policyholder, the Reinsurer will return its proportional share of the premiums it has received from the Company in respect of any policy for which premiums have been returned. The Company also reserves the right to net any balances that remain unpaid for more than thirty (30( ) days after the delivery receipt of the request for payment from the next reinsurance billing statement.

Premium and Claims Accounting. The premiums to be paid to the Reinsurer by the Company for reinsurance shall be in accordance with the terms set out in Exhibits B, C B-I and D and are a condition precedent to coverage under the AgreementB-II. During each accounting period, the Company undertakes to send to the Reinsurer, Reinsurer Billing Statements as set out in Exhibit FE, showing all first year and renewal premiums that become due during for the next accounting period. Also included will be any adjustments made necessary by changes or corrections to reinsurance previously reported. For all claims paid by the Company within the accounting period, the Company will submit to the Reinsurer a Statement of Reinsured Claims Collected, as referenced in Exhibit F. E. This is an itemized listing of benefits including the ceded death benefit, plus the Reinsurer’s proportionate share of the interest and expenses paid by the Company, that have been netted off the Reinsurer’s monthly Billing Statement(s). The balance of account due shall then become payable. If the statement balance so calculated is due to the Reinsurer, the Company shall forward payment in settlement together with the statements. When netting claims against premiums in the normal course of business, if If the balance is due to the Company, the Reinsurer shall forward payment in settlement within thirty (30( ) days of receipt of the statements. For balances remaining unpaid longer than thirty (30( ) days after the delivery to the Reinsurer Reinsurer’s receipt of the request for payment, the Company reserves the right to charge interest on the outstanding balance. The outstanding balance will incur interest calculated from the date that date the payment was due using the “3-3 month” U.S. Treasury Xxxx rate reported for the last working date of the calendar month preceding the request for payment in the Wall Street Journal or a comparable publication, plus __%. If for any reason other than contractual Contractual surrenders the Company returns premiums to the policyholder, the Reinsurer will return its proportional share of the premiums it has received from the Company in respect of any policy for which premiums have been returned. The Company also reserves the right to net any balances that remain unpaid for more than thirty (30( ) days after the delivery receipt of the request for payment from the next reinsurance billing statement.