Statutory Penalties. This shall mean the fixed amounts awarded by statute as a penalty in conjunction with an act, omission or course of conduct related to a claim. In no event whatsoever, shall the term Statutory Penalties include any Punitive Damages awards.
Appears in 3 contracts
Samples: Reinsurance Agreement, Modified Coinsurance Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A)
Statutory Penalties. This shall mean the The fixed amounts awarded by statute as a penalty in conjunction with an act, omission or course of conduct related to a claim. In no event whatsoever, shall the term Statutory Penalties include any Punitive Damages awards.
Appears in 3 contracts
Samples: Reinsurance Agreement (Nationwide VL Separate Account-G), Reinsurance Agreement (Nationwide VL Separate Account-G), Reinsurance Agreement (Nationwide VLI Separate Account-7)
