Unearned Premium. In the event the loss ratio is in excess of 85%, the Reinsurer shall be liable for unallocated loss adjustment expenses equal to 1% of earned premium for each Loss Ratio point in excess of 85%, however, not in excess of 6% of earned premium. When applicable, the coverage for unallocated loss adjustment expenses shall be included in the maximum limit of 97% of earned premium ceded referred to in QUOTA
Appears in 9 contracts
Samples: Share Reinsurance Agreement (Goran Capital Inc), Quota Share Reinsurance Agreement (Symons International Group Inc), Quota Share Reinsurance Agreement (Goran Capital Inc)
Unearned Premium. In the event the loss ratio is in excess of 85%, the Reinsurer shall be liable for unallocated loss adjustment expenses equal to 1% of earned premium for each Loss Ratio point in excess of 85%, however, not in excess of 6% of earned premium. When applicable, the coverage for unallocated loss adjustment expenses shall be included in the maximum limit of 97% of earned premium ceded referred to in QUOTA.
Appears in 1 contract
Samples: Quota Share Reinsurance Agreement (Symons International Group Inc)
