Reserving. As part of its accounting and budgeting function, Contractor shall establish an actuarially sound process for estimating and tracking incurred but not reported claims (IBNRs). As part of its reserving methodology, the Contractor shall conduct “look backs” at least annually to assess its reserving methodology and make adjustments as necessary.
Reserving. Between the date of this Agreement and the Closing, for purposes of the applicable Statutory Accounting Principles, Sellers shall cause each Insurance Company to fix and determine reserves consistent with the methodologies and other practices as set forth on Schedule 5.9.
Reserving. Each claim should be reviewed and evaluated according to the merits of the claim and based upon the most current and reliable information received, starting with the initial report of claim and continuing through final resolution. Delays result in understated reserves and, possibly, missed opportunities to settle.
Reserving. Each insurance company subsidiary of the Company is set forth on Schedule VI hereto (each, an “Insurance Subsidiary” and collectively, the “Insurance Subsidiaries”). Except as disclosed in each of the General Disclosure Package and the Prospectus, the Company and its Insurance Subsidiaries have made no material change in their insurance reserving practices since December 31, 2007. The reserves reflected on the most recent annual statutory statements of each Insurance Subsidiary, as of the dates specified in such statements, (A) were computed in accordance with presently accepted actuarial standards consistently applied and (B) met the requirements of the applicable insurance laws, rules and regulations of the jurisdiction of domicile of such Insurance Subsidiary.
Reserving. As part of its accounting and budgeting function, Contractor shall establish an actuarially sound process for estimating and tracking incurred but not reported claims (IBNRs). Contractor also shall reserve funds by major categories of service (e.g., hospital inpatient; hospital outpatient) to cover both IBNRs and reported but unpaid claims (RBUCs). As part of its reserving methodology, the Contractor shall conduct “look backs” at least annually to assess its reserving methodology and make adjustments as necessary.
Reserving. Items can be reserved by phone, by email, or in person. Please give us adequate time to prepare the equipment that will be checked out. We will need the patron’s contact information, dates they would like the equipment, type of equipment, and purpose. This signed document must be presented when picking up equipment.
Reserving. For insurance regulatory accounting purposes, (i) the Reinsured shall determine the amount of its reserves and those of its subsidiaries on the Subject Business and may change those reserves from time to time as it, in its sole discretion, deems necessary or appropriate, (ii) the Reinsurer shall determine the amount of its reserves on its liability hereunder and may change those reserves from time to time as it, in its sole discretion, deems necessary or appropriate. Notwithstanding the amount of reserves carried by the Reinsurer, if Reinsurer's Obligations are subject to any special security deposit under which an insurance regulatory authority requires identical assumed and ceded reserves for purpose of computing the amount of the special security deposit, the Reinsurer or Reinsurer's affiliate shall satisfy the special security deposit by reference to the reserve amount required by the insurance regulatory authority.
Reserving. (i) establish proper reserves as soon as adequate information exists based on the most likely outcome of the claim;
Reserving. Between the date of this Agreement and the Closing, for purposes of SAP, Seller shall cause the Company to fix and determine reserves using generally accepted actuarial standards consistently applied and actuarial assumptions that were in accordance with or more conservative than those called for in the relevant practices prescribed or permitted by the Domiciliary Regulator.
Reserving. 1. Lost-time claims will be reviewed at 30 days, 90 days from date of creation and every 90 days thereafter for the life of the claim for adequacy of reserves and proper development of the action plan on all unresolved claims and every 180 days on resolved claims.
