Recapture Liability. After the effective date of recapture, the Reinsurer will not be liable for any reinsured policies or portions of such reinsured policies that were eligible for recapture and were overlooked. The acceptance by the Reinsurer of reinsurance premiums after the effective dates of recapture will not constitute or determine liability on the part of the Reinsurer for such reinsurance and the Reinsurer will be liable only for a refund of the premiums so received, without interest.
Appears in 5 contracts
Samples: Reinsurance Agreement (Symetra Separate Account Sl), Reinsurance Agreement (Penn Mutual Variable Life Account I), Automatic Yearly Renewable Term Reinsurance Agreement (Symetra Separate Account Sl)
Recapture Liability. After the effective date of recapture, the The Reinsurer will not be liable for any reinsured policies or portions of such reinsured policies that were eligible for recapture and were overlooked. The acceptance by the Reinsurer of reinsurance premiums after the effective dates of recapture will not constitute or determine liability on the part of the Reinsurer for such reinsurance and the Reinsurer will be liable only for a refund of the premiums so received, without interest.
Appears in 1 contract
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii)
