Common use of SEVERAL LIABILITY NOTICE Clause in Contracts

SEVERAL LIABILITY NOTICE. (LSW 1001 REINSURANCE) The subscribing reinsurer's obligations under contracts of reinsurance to which they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing reinsurers are not responsible for the subscription of any co-subscribing reinsurer who for any reason does not satisfy all or part of its obligations.

SEVERAL LIABILITY NOTICE. (LSW 1001 REINSURANCE) ): The subscribing reinsurer's obligations under contracts of reinsurance to which they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing reinsurers are not responsible for the subscription of any co-subscribing reinsurer who for any reason does not satisfy all or part of its obligations.