REINSURANCE REPORTS. DATA NOTIFICATION: The Company shall send to the Reinsurer reports, in substantial compliance with the Society of Actuaries Guidelines, at the times indicated below:
REINSURANCE REPORTS. Reinsurance shall be self-administered by the Ceding Company. The Ceding Company shall maintain up-to-date records on business under the Agreement for reporting new issues, renewals, deaths, lapses and other adjustments on each reinsured policy or rider and shall provide reports to the Reinsurer subsequent to the close of each reporting period. The reporting period shall be monthly. The reports shall consist of sufficient detail for the Reinsurer to determine its amount of risk on reinsured policies and riders and to verify reinsurance premiums. Reports provided shall be the following:
REINSURANCE REPORTS. The Company acknowledges that timely and correct compliance with the reporting requirements of this Agreement are a material element of the Company’s responsibilities hereunder and an important basis of the Reinsurer’s ability to reinsure the risks hereunder. Consistent and material non-compliance with reporting requirements, including extended delays, will constitute a material breach of the terms of this Agreement.
REINSURANCE REPORTS. Reinsurance shall be self-administered by the Ceding Company. The Ceding Company shall maintain up-to-date records on business under the Agreement for reporting new issues, renewals, deaths, lapses and other adjustments on each reinsured policy or rider and shall provide reports to the Reinsurer subsequent to the close of each reporting period. The reporting period shall be quarterly. The reports shall consist of sufficient detail for the Reinsurer to determine its amount of risk on reinsured policies and riders and to verify reinsurance premiums. Reports provided shall be the following: Bordereau Detail Reports: New business and change reports shall be provided to the Reinsurer on a bordereau basis and include the following items: Policy Number Joint Life Information Name of the Insured Policy Face Amount Sex Reinsurance Amount(s) Issued Date of Birth Retained Amount Issue Age Reinsurance Net Amount at Risk Policy Date Death Benefit Option Policy Year Reinsurance Premiums (First Year-End Renewal) Policy Duration Reinsurance Commission or Allowances Transaction Type* Policy Fee Transaction Effective Date Premium Taxes Reimbursed Table Rating Cash Values Reimbursed Flat Extra Amount and Duration Dividends Reimbursed Plan Name or Code Net Amount due the Reinsurer or the Ceding Company Underwriting Classification * Transaction codes may be used to identify policy activity affecting reinsurance including new reinsurance issued, continuation of coverage, and policy movements or changes such as: Not Takens Decrease in Amount Surrender Cancellation of Reinsurance Lapse Recapture Reinstatement Death Conversion Expiration Exchange Other Changes Increase in Amount Separate listings shall be provided for new issues, renewals, terminations, and other adjustments. [page break]
REINSURANCE REPORTS. (Continued)
REINSURANCE REPORTS. The Company acknowledges that timely and correct compliance with the reporting requirements of this Agreement are a material element of the Company’s responsibilities hereunder and an important basis of the Reinsurer’s ability to reinsure the risks hereunder. Consistent and material non-compliance with reporting requirements, including extended delays, will constitute a material breach of the terms of this Agreement. Remittance The Company will self-administer reinsurance transactions. Reinsurance premiums are payable as specified in the Premium Mode provision of Exhibit C-1. During each accounting period, as defined below, the Company will report to the Reinsurer all first year and renewal premiums which became due during the previous accounting period. Reporting of business transactions should begin within 90 days of the effective date of the Agreement, including policies with zero first year premium. Any adjustments made necessary by changes in reinsurance effective during a previous accounting period will also be reported. The Company will take credit, without interest, for any unearned premiums arising due to reductions, cancellations or death claims. The unearned premiums refunded will be net of allowances and policy fees. The Company will pay the balance of premiums in arrears due under a reinstated Reinsured Policy. If a net balance is due to the Reinsurer, the Company will forward a remittance in settlement with its report. If the net balance is due to the Company, the Reinsurer will forward a remittance in settlement within 30 days of receipt of the report.
REINSURANCE REPORTS. DATA NOTIFICATION: The Company shall send to the Reinsurer reports, in substantial compliance with the Society of Actuaries Guidelines, at the times indicated below: i. Type of Transaction ii. Effective Date of Transaction iii. Automatic/Facultative Indicator iv. Policy Number v. Full Name of Insured vi. Date of Birth vii. Sex viii. Risk Class ix. Smoking Status x. Policy Plan Code xi. Insured’s State of Residence
REINSURANCE REPORTS. DATA NOTIFICATION: The Company shall send to the Reinsurer reports, in substantial compliance with the Society of Actuaries Guidelines, at the times indicated below: The reports for New Business, Renewal Business, Conversions, Changes, Reductions, Terminations, Reinstatements and in force, will include the following data:
REINSURANCE REPORTS. REMITTANCE REPORTING: The Company will self-administer reinsurance and report all Riders ceded pursuant to this Agreement by means of the reports specified in this Exhibit and any other reports reasonably requested by the Reinsurer.
REINSURANCE REPORTS. Remittance Reporting:
