Common use of Reporting and Administration Clause in Contracts

Reporting and Administration. The Ceding Company shall be responsible for the administration of the reinsured Policies. The Ceding Company may, at its option, subcontract its obligations under this Agreement to any affiliate or third party administrator which the Ceding Company has decided to utilize in the administration of any of its business, as long as such affiliate or third party administrator continues to provide the same or better standards of administration as was provided by the Ceding Company. The reporting period shall be [ ]. At the end of each reporting period the Ceding Company shall prepare and send to the Reinsurer a statement, in substantial accord with Exhibit G – Reporting Requirements, reporting reinsurance premiums due on each new risk and for renewals of Policies whose anniversary date falls within the reporting period. Any premium adjustments and refunds due because of terminations, reinstatements, reissues and other changes during the reporting period shall also be listed. New reinsurance shall be reported on the report next following the time that the reinsured Policy has been reported as delivered and paid for. The statement described above shall be furnished to the Reinsurer within [ ] calendar days after the end of each reporting period and shall be accompanied by payment of any net amount due the Reinsurer as shown on the statement. If any reinsurance premium is not paid within the allotted time set forth in Section 7.3 – Termination for Failure to Pay Premiums, the Reinsurer has the right to terminate its liability on the reinsured Policies on such statement by giving [ ] calendar days advance written notice to the Ceding Company. If the net amount due to the Reinsurer is not paid by the close of the [ ] day period following the notice, the Reinsurer’s liability shall terminate for the aforementioned Policies. Regardless of these terminations, the Ceding Company shall be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.

Reporting and Administration. The Ceding Company shall be responsible for the administration of the reinsured Policies. The Ceding Company may, at its option, subcontract its obligations under this Agreement to any affiliate or third party administrator which the Ceding Company has decided to utilize in the administration of any of its business, as long as such affiliate or third party administrator continues to provide the same or better standards of administration as was provided by the Ceding Company. The reporting period shall be [ ]. At the end of each reporting period the Ceding Company shall prepare and send to the Reinsurer a statement, in substantial accord with Exhibit G – Reporting Requirements, reporting reinsurance premiums due on each new risk and for renewals of Policies whose anniversary date falls within the reporting period. Any premium adjustments and refunds due because of terminations, reinstatements, reissues and other changes during the reporting period shall also be listed. New reinsurance shall be reported on the report next following the time that the reinsured Policy has been reported as delivered and paid for. The statement described above shall be furnished to the Reinsurer within [ ] calendar days after the end of each reporting period and shall be accompanied by payment of any net amount due the Reinsurer as shown on the statement. If any reinsurance premium is not paid within the allotted time set forth in Article 7 – Premium Accounting, Section 7.3 – Termination for Failure to Pay Premiums7.3, the Reinsurer has the right to terminate its liability on the reinsured Policies on such statement by giving [ ] calendar days advance written notice to the Ceding Company. If the net amount due to the Reinsurer is not paid by the close of the [ ] day period following the notice, the Reinsurer’s liability shall terminate for the aforementioned Policies. Regardless of these terminations, the Ceding Company shall be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.

Reporting and Administration. The Ceding Company shall be responsible for the administration of the reinsured Policies. The Ceding Company may, at its option, subcontract its obligations under this Agreement to any affiliate or third party administrator which the Ceding Company has decided to utilize in the administration of any of its business, as long as such affiliate or third party administrator continues to provide the same or better standards of administration as was provided by the Ceding Company. The reporting period shall be [ ]. At the end of each reporting period the Ceding Company shall prepare and send to the Reinsurer a statement, in substantial accord with Exhibit G – Reporting Requirements, reporting reinsurance premiums due on each new risk and for renewals of Policies whose anniversary date falls within the reporting period. Any premium adjustments and refunds due because of terminations, reinstatements, reissues and other changes during the reporting period shall also be listed. New reinsurance shall be reported on the report next following the time that the reinsured Policy has been reported as delivered and paid for. The statement described above shall be furnished to the Reinsurer within [ ] calendar days after the end of each reporting period and shall be accompanied by payment of any net amount due the Reinsurer as shown on the statement. If any reinsurance premium is not paid within the allotted time set forth in Section 7.3 – Termination for Failure to Pay Premiums7.3, the Reinsurer has the right to terminate its liability on the reinsured Policies reinsurance risks on such the statement by giving [ ] calendar days advance written notice to the Ceding Company. If the net amount due to the Reinsurer is not paid by the close of the [ ] day period following the notice, the Reinsurer’s liability shall terminate for the aforementioned Policiesrisks. Regardless of these terminations, the Ceding Company shall be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurerthem.

Reporting and Administration. The Ceding Company shall be responsible for the administration of the reinsured Policies. The Ceding Company may, at its option, subcontract its obligations under this Agreement to any affiliate or third party administrator which the Ceding Company has decided to utilize in the administration of any of its business, as long as such affiliate or third party administrator continues to provide the same or better standards of administration as was provided by the Ceding Company. The reporting period shall be [ ]monthly. At the end of each reporting period the Ceding Company shall prepare and send to the Reinsurer a statement, in substantial accord with Exhibit G – Reporting Requirements, reporting reinsurance premiums due on each new risk and for renewals of Policies whose anniversary date falls within the reporting period. Any premium adjustments and refunds due because of terminations, reinstatements, reissues and other changes during the reporting period shall also be listed. New reinsurance shall be reported on the report next following the time that the reinsured Policy has been reported as delivered and paid for. The statement described above shall be furnished to the Reinsurer within [ [_____] calendar days after the end of each reporting period and shall be accompanied by payment of any net amount due the Reinsurer as shown on the statement. If any reinsurance premium is not paid within the allotted time set forth in Section 7.3 – Termination for Failure to Pay Premiums7.3, the Reinsurer has the right to terminate its liability on the reinsured Policies reinsurance risks [page break] on such the statement by giving [ [_____] calendar days advance written notice to the Ceding Company. If the net amount due to the Reinsurer is not paid by the close of the [ [_____] day period following the notice, the Reinsurer’s liability shall terminate for the aforementioned Policiesrisks. Regardless of these terminations, the Ceding Company shall be liable to the Reinsurer for all unpaid reinsurance premiums earned by them. The Ceding Company agrees that it will not [_____]. For the Reinsurerannual confirmation of NAIC Reserves, reporting will identify principle based reserve (“PBR”) versus non-PBR reserves starting in 2021.

Reporting and Administration. The Ceding Company shall be responsible for the administration of the reinsured Policies. The Ceding Company may, at its option, subcontract its obligations under this Agreement to any affiliate or third party administrator which the Ceding Company has decided to utilize in the administration of any of its business, as long as such affiliate or third party administrator continues to provide the same or better standards of administration as was provided by the Ceding Company. The reporting period shall be [ ]monthly. At the end of each reporting period the Ceding Company shall prepare and send to the Reinsurer a statement, in substantial accord with Exhibit G – Reporting Requirements, reporting reinsurance premiums due on each new risk and for renewals of Policies whose anniversary date falls within the reporting period. Any premium adjustments and refunds due because of terminations, reinstatements, reissues and other changes during the reporting period shall also be listed. New reinsurance shall be reported on the report next following the time that the reinsured Policy has been reported as delivered and paid for. The statement described above shall be furnished to the Reinsurer within [ [_____] calendar days after the end of each reporting period and shall be accompanied by payment of any net amount due the Reinsurer as shown on the statement. If any reinsurance premium is not paid within the allotted time set forth in Section 7.3 – Termination for Failure to Pay Premiums8.3, the Reinsurer has the right to terminate its liability on the reinsured Policies reinsurance risks on such the statement by giving [ [_____] calendar days advance written notice to the Ceding Company. If the net amount due to the Reinsurer is not paid by the close of the [ [_____] day period following the notice, the Reinsurer’s liability shall terminate for the aforementioned Policiesrisks. Regardless of these terminations, the Ceding Company shall be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.them. [page break]