Common use of Remittance Reporting Clause in Contracts

Remittance Reporting. The Company will self-administer reinsurance transactions. During each accounting period, the Company will report to the Reinsurer all first year and renewal premiums which became due during the previous accounting period. Also included in the report will be any adjustments made necessary by changes in reinsurance effective during a previous accounting period. 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. The Company will pay the balance of arrears of premiums due under a reinstated Reinsured Policy. The balance due, as calculated above, will then become payable. If the balance so calculated is due to the Reinsurer, the Company will forward a remittance in settlement with the report. If the balance is due to the Company, the Reinsurer will forward a remittance in settlement within fifteen (15) days of receipt of the report.

Remittance Reporting. The Company reinsurance transactions will self-administer reinsurance transactionsbe administered by the Reinsurer. During each accounting period, as defined below, the Reinsurer will provide the Company will with a report to the Reinsurer showing all first year and renewal premiums which became due during the previous accounting period. Also included in the report will be any adjustments made necessary by changes in reinsurance effective during a previous accounting period. 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 allowancesallowances and policy fees. The Company will pay the balance of arrears of premiums due under a reinstated Reinsured Policy. The balance due, as calculated above, will then become payable. If the balance so calculated is due to the ReinsurerCompany, the Company Reinsurer will forward a remittance in settlement with the report. If the balance is due to the CompanyReinsurer, the Reinsurer Company will forward a remittance in settlement within fifteen (15) 15 days of receipt of the report.

Remittance Reporting. The Company will self-administer reinsurance transactions. Reinsurance premiums are payable annually in advance. 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. Also included in the report will be any Any adjustments made necessary by changes in reinsurance effective during a previous accounting periodperiod 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 allowancesallowances and policy fees. The Company will pay the balance of arrears of premiums due under a reinstated Reinsured Policy. The If a balance due, as calculated above, will then become payable. If the balance so calculated is due to the Reinsurer, the Company will forward a remittance in settlement with the its report. If the balance is due to the Company, the Reinsurer will forward a remittance in settlement within fifteen (15) 15 days of receipt of the report.