Common use of SELF-ADMINISTERED BUSINESS Clause in Contracts

SELF-ADMINISTERED BUSINESS. Promptly after liability for insurance has begun on an individual risk, the CEDING COMPANY shall have the responsibility of maintaining adequate records for the administration of the reinsurance account and shall furnish BMA with monthly reports, in substantial conformity with the following: A. MONTHLY NEW BUSINESS REPORT (1) policy number (10) amount reinsured (2) full name of insured (11) automatic/facultative indicator (3) date of birth (12) state of residence (4) sex (13) table rating (5) issue age (14) flat extra (amount + number of years) (6) policy date (15) death benefit option (UL products) (7) underwriting classification (16) net amount at risk (8) plan of insurance (17) transaction code (9) amount issued (18) currency if other than U.S.

SELF-ADMINISTERED BUSINESS. Promptly after liability for insurance has begun on an individual risk, the CEDING COMPANY shall have the responsibility of maintaining adequate records for the administration of the reinsurance account and shall furnish BMA with monthly reports, in substantial conformity with the following: A. MONTHLY NEW BUSINESS REPORT (1) policy number (10) amount reinsured reinsured (2) full name of insured (11) automatic/facultative indicator indicator (3) date of birth (12) state of residence residence (4) sex (13) table rating rating (5) issue age (14) flat extra (amount + number of years) ) (6) policy date (15) death benefit option (UL products) ) (7) underwriting classification (16) net amount at risk risk (8) plan of insurance (17) transaction code code (9) amount issued (18) currency if other than U.S.