RATE AND PREMIUM. The Company shall pay to the Subscribing Reinsurer a premium calculated by applying to the Subject Earned Premium income of the Company and the Legal Entities for all classes of Business Covered, as stated in Article I — Business Covered, a rate of 0.264% for the Agency Markets Group and the Wausau Business Group as defined in Article I — Business Covered, except as excluded in Article II — Exclusions of this Contract.
RATE AND PREMIUM. As premium for the reinsurance provided hereunder, the Reinsured shall pay the Reinsurer 1.06% of its Subject Earned Manual Premium for the term of this Contract, subject to a minimum premium of USD 685,000. The Reinsured shall pay the Reinsurer a deposit premium of USD 740,000 in four equal installments of USD 185,000 within 30 days of the 1st January 2007, 1st April 2007, 1st July 2007 and 1st October 2007. Within 45 days after the expiration of this Agreement, the Reinsured shall calculate and report to the Reinsured the adjusted premium, based on the Reinsured’s Subject Earned Manual Premium for the term of this Agreement computed in accordance with the first paragraph, and any additional premium due the Reinsurer or return premium due the Reinsured shall be remitted promptly.
RATE AND PREMIUM. A. As premium for each excess layer of reinsurance coverage provided by this Agreement, the Company shall pay the Reinsurer the greater of the following:
1. The amount, shown as “Minimum Premium” for that excess layer in Schedule A attached hereto; or
2. The percentage, shown as “Exposure Rate” for that excess layer in Schedule A attached hereto, of the Company’s total insured value as of September 30, 2010.
B. The Company shall pay the Reinsurer a deposit premium for each excess layer of the amount, shown as “Deposit Premium” for that excess layer in Schedule A attached hereto, payable in installment amounts and at the dates set forth in the “Deposit Payment Schedule” for each excess layer in Schedule A attached hereto.
C. As respects any excess layer hereunder, if the Company elects to reduce or terminate a Subscribing Reinsurer’s participation percentage in accordance with paragraph C of the Term Article, the “Minimum Premium” as respects such excess layer shall not apply. Further, the earned reinsurance premium as otherwise determined in accordance with the provisions of subparagraph 2 of paragraph A above as respects each excess layer shall be replaced with the following:
1. In the event a loss occurs prior to the effective date of reduction or termination and the Reinsurer’s liability for such Loss Occurrence exceeds the “Deposit Premium” for such excess layer, the reinsurance premium for the Term of this Agreement for such excess layer shall equal the “Deposit Premium” for such excess layer times the ratio the loss recoverable under such excess layer bears to the “Reinsurer’s Per Occurrence Limit” for such excess layer.
2. In the event no loss occurs prior to the effective date of reduction or termination or a loss occurs whereby the Reinsurer’s liability for such loss occurrence is less than the “Deposit Premium” applicable to such excess layer, the reinsurance premium for the Term of this Agreement for such excess layer shall equal the pro rata portion of the reinsurance premium otherwise due hereunder for such excess layer based on the proportion the Term of this Agreement bears to the original 12-month term of this Agreement.
D. No later than April 1, 2011 (or the effective date of termination in the event this Agreement is terminated prior to April 1, 2011), the Company shall provide a report to the Reinsurer setting forth the premium due under each excess layer hereunder, computed in accordance with paragraph A or C (as applicable) above, and ...
RATE AND PREMIUM. The Company will pay the Reinsurers 1.20 % of the Direct Earned Premium on the policies in force at the inception of this Agreement, or written or renewed with an effective date thereafter. The Company will be subject to a minimum premium of $1,612,800 and will pay a deposit premium of $2,016,000 on estimated Direct Earned Premium of $168,000,000 for the period of January 1, 1997 to January 1, 1999 as follows: Payable: January 31, 1997 - $252,000 April 1, 1997 - $252,000 July 1, 1997 - $252,000 October 1, 1997 - $252,000 January 1, 1998 - $252,000 April 1, 1998 - $252,000 July 1, 1998 - $252,000 October 1, 1998 - $252,000
RATE AND PREMIUM. For the term of this Agreement, there will be a minimum and deposit premium hereon of $128,000, payable in equal quarterly installments of $32,000 on January 1, 1998, April 1, 1998, July 1, 1998 and October 1, 1998. At Agreement expiration, the Company will adjust the minimum and deposit premium against a rate of 1.25% of its applicable net earned premium.
RATE AND PREMIUM. 24 REINSTATEMENT...................................................25 EXHIBIT D - FOURTH LAYER....................................................26
RATE AND PREMIUM. A. As premium for the reinsurance coverage provided by this Agreement, the Company shall pay the Reinsurer the product of the following:
1. times
2. The Final Adjusted Rate on Line for the second excess layer under the Original Contract; times
3. An amount equal to the final adjusted premium paid by the Company for the second excess layer under the Original Contract.
RATE AND PREMIUM. The Company will pay, as a condition for coverage, the following reinsurance premium. A "Minimum Deposit Premium" of $___,___ will be payable in six equal installments of $__,___.__, in advance, on July 1, 2008, October 1, 2008, January 1, 2009, April 1, 2009, July 1, 2009, and October 1, 2009. Within 90 days following Agreement expiration, the Company will compute and report to the Reinsurer a "Final Premium" which will be based upon calculating the Mean In-Force Net Retained Volume at a rate of $0.___ per $1,000 of Net Volume. If the Final Premium exceeds the amount of the Minimum Deposit Premium, the Company will pay the difference at the time it makes the report to the Reinsurer.
RATE AND PREMIUM. Pioneer shall pay to Donegal and Donegal will retrocede to Pioneer during the term of this Agreement Net Earned Premium Income of Pioneer during such term in respect of business the subject matter of this Agreement.
RATE AND PREMIUM. A. As premium for the reinsurance coverage provided by this Contract, the Company shall pay the Reinsurer $850,000 on January 1, 2012.
B. If the Company elects to reduce or terminate a Subscribing Reinsurer’s participation percentage in accordance with paragraph C of the Term Article, the reinsurance premium due hereunder in accordance with the provisions of paragraph A above shall be replaced with the following: Effective: January 1, 2012 HCI_102_12
1. In the event a loss occurs prior to the effective date of reduction or termination and the Reinsurer’s liability for such loss occurrence exceeds $850,000, the reinsurance premium for the term of this Contract shall equal $850,000 times the ratio the loss recoverable bears to $10,000,000.
2. In the event no loss occurs prior to the effective date of reduction or termination or a loss occurs whereby the Reinsurer’s liability for such loss occurrence is less than $850,000, the reinsurance premium for the term of this Contract shall equal the pro rata portion of the reinsurance premium otherwise due hereunder based on the proportion the term of this Contract bears to the original five-month term of this Contract.
