Surety Business. 7. Reinsurance Assumed Business, other than policies "fronted" by another carrier and individually underwritten by Darwin Professional Underwriters, Inc, and Inter-Company Pooling Arrangements.
Surety Business. 7. Reinsurance Assumed Business, other than reinsurance of a captive insurance company, policies "fronted" by another carrier and underwritten by Darwin Professional Underwriters, Inc., and Inter-Company Xxxxxng Arrangements. Notwithstanding anything in this Article to the contrary, should the Reassured submit a risk to Reinsurers hereon for their special acceptance, to the extent that Reinsurers agree to accept such a risk by way of special acceptance, the above exclusions apply only as provided in the special acceptance. Additionally it is agreed that, where a risk previously accepted by way of special acceptance is renewed, no further special acceptance by Reinsurers shall be required, and all such prior special acceptances on predecessor Contracts shall also be covered hereunder. Notwithstanding the above, as a condition precedent to prior special acceptances on predecessor Contracts being automatically covered, all such prior special acceptances will be identified to the Reinsurers by the Reassured in the information provided for the purposes of renewal of this Contract. For all accounts submitted for special acceptance, the Reassured will provide to Reinsurers the following information only: o A copy of the underwriting work-up on the account.
Surety Business. E. Liability of the Company arising, by contract, operation of law, or otherwise from its participation or membership, whether voluntary or involuntary, in any insolvency fund. "Insolvency fund" includes any guaranty fund, plan, pool, association, fund, or other arrangement, howsoever denominated, established, or governed that provides for any assessment of or payment or assumption by the Company of part or all of any claim, debt, charge, fee, or other obligation of an Insurer, or its successors or assigns, which has been declared by any competent authority to be insolvent, or which is otherwise deemed unable to meet any claim, debt, charge, fee or other obligation in whole or in part.
Surety Business. 7. Reinsurance Assumed Business, other than reinsurance of a captive insurance company, policies "fronted" by another carrier and underwritten by Darwin Professional Underwriters, Inc, and Inter-Company Pooling Arrangements. Notwithstanding anything in this Article to the contrary, should the Reassured submit a risk to Reinsurers hereon for their special acceptance, to the extent that Reinsurers agree to accept such a risk by way of special acceptance, the above exclusions shall apply only as provided in the special acceptance. Additionally it is agreed that, where a risk previously accepted by way of special acceptance is renewed, no further special acceptance by Reinsurers shall be required, and all such prior special acceptances on predecessor Contracts shall also be covered hereunder. Notwithstanding the above, as a condition precedent to prior special acceptances on predecessor Contracts being automatically covered, all such prior special acceptances will be identified to the Reinsurers by the Reassured in the information provided for the purposes of renewal of this Contract. For all accounts submitted for special acceptance, the Reassured will provide to Reinsurers the following information only: - A copy of the underwriting work-up on the account. - An account loss history. - The terms, conditions and pricing that the Reassured propose to offer within this Contract. Upon receipt of the above information, the Reinsurers will provide their underwriting decision on any account submitted for special acceptance within three (3) working days it being understood that if not received within the allotted timeframe the account will be automatically approved and accepted under this Contract.
