Common use of Remittances and Reports Clause in Contracts

Remittances and Reports. A. As soon as practicable consistent with its standard financial reporting practices, but no later than thirty (30) days after the end of each calendar month, CPIC shall submit a pooling report to TICNY setting forth the following information as regards the Traditional Program Business Pool: 1. Net Written Premium received during the month; 2. Net Premium Earned received during the month; 3. Ceding commission thereon; 4. Losses and loss adjustment expenses paid during the month; 5. Salvage and subrogation recoveries received; 6. Recoverables under inuring reinsurance; and 7. Expenses paid under the Pool Management Agreement. B. The balance shown to be due a Participating Company shall be remitted within fifteen (15) days after the issuance of the reports by CPIC on a collected basis; provided that CPIC may retain, as manager, a reserve out of amounts otherwise due TICNY for the payment of amounts reasonably estimated by CPIC to be payable during the next sixty (60) days by the Traditional Program Business Pool and allocable to TICNY hereunder. Such balance shall be remitted in cash or in readily marketable securities (valued at fair market value) in an amount equal to such balance. Should discrepancies arise in the process of the verification of any report, such differences, once resolved, should be remitted promptly. C. As soon as practicable consistent with its financial reporting practices, but no later than thirty (30) days after the end of each calendar quarter, CPIC shall report to TICNY ceded unearned premium reserves and ceded outstanding loss and loss adjustment expense reserves as regards the Traditional Program Business as of the end of such quarter.

Remittances and Reports. A. As soon as practicable consistent with its standard financial reporting practices, but no later than thirty (30) days after the end of each calendar month, CPIC shall submit a pooling report to TICNY setting forth the following information as regards the Traditional Specialty Program Business Pool: 1. Net Written Premium received during the month; 2. Net Premium Earned received during the month; 3. Ceding commission thereon; 4. Losses and loss adjustment expenses paid during the month; 5. Salvage and subrogation recoveries received; 6. Recoverables under inuring reinsurance; and 7. Expenses paid under the Pool Management Agreement. B. The balance shown to be due a Participating Company shall be remitted within fifteen (15) days after the issuance of the reports by CPIC on a collected basis; provided that CPIC may retain, as manager, a reserve out of amounts otherwise due TICNY for the payment of amounts reasonably estimated by CPIC to be payable during the next sixty (60) days by the Traditional Specialty Program Business Pool and allocable to TICNY hereunder. Such balance shall be remitted in cash or in readily marketable securities (valued at fair market value) in an amount equal to such balance. Should discrepancies arise in the process of the verification of any report, such differences, once resolved, should be remitted promptly. C. As soon as practicable consistent with its financial reporting practices, but no later than thirty (30) days after the end of each calendar quarter, CPIC shall report to TICNY ceded unearned premium reserves and ceded outstanding loss and loss adjustment expense reserves as regards the Traditional Specialty Program Business as of the end of such quarter.

Remittances and Reports. A. As soon as practicable consistent with its standard financial reporting practices, but no later than thirty (30) days after the end of each calendar month, CPIC TICNY shall submit a pooling report to TICNY CPIC setting forth the following information as regards the Traditional Program Brokerage Business Pool: 1. Net Written Premium received during the month; 2. Net Premium Earned received during the month; 3. Ceding commission thereon; 4. Losses and loss adjustment expenses paid during the month; 5. Salvage and subrogation recoveries received; 6. Recoverables under inuring reinsurance; and 7. Expenses paid Management Fees due under the Pool Management Agreement. B. The balance shown to be due a Participating Company shall be remitted within fifteen (15) days after the issuance of the reports by CPIC TICNY on a collected basis; provided that CPIC TICNY may retain, as manager, a reserve out of amounts otherwise due TICNY CPIC for the payment of amounts reasonably estimated by CPIC TICNY to be payable during the next sixty (60) days by the Traditional Program Brokerage Business Pool and allocable to TICNY CPIC hereunder. Such balance shall be remitted in cash or in readily marketable securities (valued at fair market value) in an amount equal to such balance. Should discrepancies arise in the process of the verification of any report, such differences, once resolved, should be remitted promptly. C. As soon as practicable consistent with its financial reporting practices, but no later than thirty (30) days after the end of each calendar quarter, CPIC TICNY shall report to TICNY CPIC ceded unearned premium reserves and ceded outstanding loss and loss adjustment expense reserves as regards the Traditional Program Brokerage Business as of the end of such quarter.

Remittances and Reports. A. As soon as practicable consistent with its standard financial reporting practices, but no later than thirty (30) days after the end of each calendar month, CPIC TICNY shall submit a pooling report to TICNY TNIC and CPIC setting forth the following information as regards the Traditional Program Brokerage Business Pool: 1. Net Written Premium received during the month; 2. Net Premium Earned received during the month; 3. Ceding commission thereon; 4. Losses and loss adjustment expenses paid during the month; 5. Salvage and subrogation recoveries received; 6. Recoverables under inuring reinsurance; and 7. Expenses paid under the Pool Management AgreementFees due. B. The balance shown to be due a Participating Company shall be remitted within fifteen (15) days after the issuance of the reports by CPIC TICNY on a collected basis; provided that CPIC TICNY may retain, as manager, a reserve out of amounts otherwise due TICNY TNIC and CPIC for the payment of amounts reasonably estimated by CPIC TICNY to be payable during the next sixty (60) days by the Traditional Program Brokerage Business Pool and allocable to TICNY TNIC and CPIC hereunder. Such balance shall be remitted in cash or in readily marketable securities (valued at fair market value) in an amount equal to such balance. Should discrepancies arise in the process of the verification of any report, such differences, once resolved, should be remitted promptly. C. As soon as practicable consistent with its financial reporting practices, but no later than thirty (30) days after the end of each calendar quarter, CPIC TICNY shall report to TICNY TNIC and CPIC ceded unearned premium reserves and ceded outstanding loss and loss adjustment expense reserves as regards the Traditional Program Brokerage Business as of the end of such quarter.

Remittances and Reports. A. As soon as practicable consistent with its standard financial reporting practices, but no later than thirty (30) days after the end of each calendar month, CPIC shall submit a pooling report to TICNY setting forth the following information as regards the Traditional Specialty Program Business Pool: 1. Net Written Premium received during the month; 2. Net Premium Earned received during the month; 3. Ceding commission thereon; 4. Losses and loss adjustment expenses paid during the month; 5. Salvage and subrogation recoveries received; 6. Recoverables under inuring reinsurance; and 7. Expenses paid under the Pool Management Agreement. B. The balance shown to be due a Participating Company shall be remitted within fifteen (15) days after the issuance of the reports by CPIC on a collected basis; provided that CPIC may retain, as manager, a reserve out of amounts otherwise due TICNY for the payment of amounts reasonably estimated by CPIC to be payable during the next sixty (60) days by the Traditional Specialty Program Business Pool and allocable to TICNY hereunder. Such balance shall be remitted in cash or in readily marketable securities (valued at fair market value) in an amount equal to such balance. Should discrepancies arise in the process of the verification of any report, such differences, once resolved, should be remitted promptly. C. As soon as practicable consistent with its financial reporting practices, but no later than thirty (30) days after the end of each calendar quarter, CPIC shall report to TICNY ceded unearned premium reserves and ceded outstanding loss and loss adjustment expense reserves as regards the Traditional Specialty Program Business as of the end of such quarter.

Remittances and Reports. A. As soon as practicable consistent with its standard financial reporting practices, but no later than thirty (30) days after the end of each calendar month, CPIC TICNY shall submit a pooling report to TICNY CPIC setting forth the following information as regards the Traditional Program Brokerage Business Pool: 1. Net Written Premium received during the month; 2. Net Premium Earned received during the month; 3. Ceding commission thereon; 4. Losses and loss adjustment expenses paid during the month; 5. Salvage and subrogation recoveries received; 6. Recoverables under inuring reinsurance; and 7. Expenses paid Management Fees due under the Pool Management Agreement. B. The balance shown to be due a Participating Company shall be remitted within fifteen (15) days after the issuance of the reports by CPIC TICNY on a collected basis; provided that CPIC TICNY may retain, as manager, a reserve out of amounts otherwise due TICNY CPIC for the payment of amounts reasonably estimated by CPIC TICNY to be payable during the next sixty (60) days by the Traditional Program Brokerage Business Pool and allocable to TICNY CPIC hereunder. Such balance shall be remitted in cash or in readily marketable securities (valued at fair market value) in an amount equal to such balance. Should discrepancies arise in the process of the verification of any report, such differences, once resolved, should be remitted promptly. C. As soon as practicable consistent with its financial reporting practices, but no later than thirty (30) days after the end of each calendar quarter, CPIC TICNY shall report to TICNY CPIC ceded unearned premium reserves and ceded outstanding loss and loss adjustment expense reserves as regards the Traditional Program Brokerage Business as of the end of such quarter.