RITC Matrix Sample Clauses

RITC Matrix. Lloyd's must as and when necessary to ensure that the Trustee has up to date information provide to the Trustee a document to be called the "RITC Matrix" which shows in tabular form: (a) the name and year of account of each syndicate (to be identified as ceding syndicates) the members of which are underwriters who have, as original underwriters, underwritten liabilities under contracts or policies of insurance that are, in relation to Continuing Underwriters, Australian Policies; (b) opposite the name and year of account of each ceding syndicate, the name and year of account of each syndicate (to be identified as accepting syndicates) the members of which: (1) have assumed liabilities under the contracts or policies of insurance referred to in clause 6.7(a) pursuant to a contract or contracts of Reinsurance to Close; and (2) are Relevant Underwriters in respect of those liabilities; and (c) opposite the name and year of account of each accepting syndicate, the proportion of the liabilities under contracts or policies of insurance referred to in clause 6.7(a) (expressed as a percentage) which have been assumed by the members of each of the accepting syndicates referred to in clause 6.7(b).
Sample 1
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