Common use of Security for Reinsurance Credit Clause in Contracts

Security for Reinsurance Credit. The Reinsurer will furnish appropriate security to enable the Ceding Company to secure credit for the reinsurance ceded under this Agreement in all United States jurisdictions in which the Ceding Company is required to file statutory financial statements. Such security shall be in any form acceptable to the regulatory authorities having jurisdiction over the Ceding Company’s statutory financial statements, including letters of credit, a reserve credit trust, funds withheld, or any combination thereof.