REINSURED: SCPIE HOLDINGS, INC., AND/OR S.C.P.I.E. INDEMNITY COMPANY, AND/OR AMERICAN HEALTHCARE INDEMNITY COMPANY, AND/OR AMERICAN HEALTHCARE SPECIALTY COMPANY, AND/OR S.C.P.I.E. INSURANCE SERVICES, INC. AND/OR S.C.P.I.E. MANAGEMENT SERVICES, INC....
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EXHIBIT 10.43
REINSURED: SCPIE HOLDINGS, INC.,
AND/OR S.C.P.I.E. INDEMNITY COMPANY,
AND/OR AMERICAN HEALTHCARE INDEMNITY COMPANY,
AND/OR AMERICAN HEALTHCARE SPECIALTY COMPANY,
AND/OR S.C.P.I.E. INSURANCE SERVICES, INC.
AND/OR S.C.P.I.E. MANAGEMENT SERVICES, INC.
BEVERLY HILLS, CALIFORNIA
TYPE: QUOTA SHARE REINSURANCE TREATY
BUSINESS
COVERED: (A) Directors and Officers Liability for the following
type(s) of Original Insureds:
1. Physician Groups and/or Clinics.
2. Managed Care Organizations.
3. Association of California Hospital Districts -
Program Beta.
(B) Errors and Omissions Liability for the
following type(s) of Original Insureds:
1. Managed Care Organizations.
TERM: January 1, 1998 to December 31, 1998 as respects risks
attaching during the twelve (12) months period.
TERRITORY: As per the Company's original policies, contracts, or binders.
EXCLUSIONS: 1. Insolvency Funds.
2. Nuclear Incident - Liability - Reinsurance.
3. Assumed Reinsurance.
4. As per the Companies original policies.
LIMITS: (A) 80% of $5,000,000 ($4,000,000 maximum) per policy in the
aggregate and/or coverage part.
(B) 80% of $1,000,000 ($800,000 maximum) per
policy in the aggregate and/or coverage
part.
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PREMIUM: Original Gross Premiums received by the Reinsured on business
covered hereunder less Ceding Commission.
CEDING
COMMISSION: Original Acquisition Cost plus 15% not to exceed 25% in all.
ACCOUNTS: Reports within forty five (45) days and settlements within
sixty (60) days of the end of each calendar quarter.
GENERAL
CONDITIONS: Loss Adjustment Expenses are within the limit of the original
policies.
Excess of Original Policy Limits Clause.
80% Extra Contractual Obligations Clause.
Ultimate Net Loss Clause.
Net Retained Lines Clause.
Notice of Loss Clause.
Loss and Unearned Premium Reserve Funding Clause - Including
IBNR (See Attached).
Special Funding Clause.
Confidentiality Clause.
Commutation Clause.
Federal Excise Tax Clause.
Errors and Omissions Clause.
Insolvency Clause.
Service of Suit Clause.
Arbitration Clause.
Access to Records Clause.
Xxx Xxxxxxxxx & Company, Inc. Intermediary Clause.
REINSURERS
HEREON: Hannover Ruckversicherungs AG 50.00%
Through Xxx Xxxxxxxxx & Co., Ltd.
London, England
Underwriters at Lloyd's
Syndicate Pseudonym Syndicate No. Participation
--------- --------- ------------- -------------
Spreckley SVH 1007 12.302%
Xxxx DPM 435 7.937%
Jago HJG 205 5.952%
Burnhope SJB 1212 3.968%
Keeling WEH 362 5.952%
------
Sub Total 36.111%
CNA International Reinsurance Co. Ltd. 7.937%
Zurich Reinsurance (U.K.) Ltd. 5.952%
-------
Sub Total 50.000%
Total 100.000%
=======
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This Cover Note is to confirm the terms and conditions which have been
negotiated between Xxx Xxxxxxxxx & Company, Incorporated and the participating
Reinsurers on your behalf. We request that you review this Cover Note with
regard to the specific placement details and subscribing Reinsurers listed
herein. In the event that any of these details do not meet with your approval or
security of the subscribing Reinsurers does not meet with your requirements,
please notify this office immediately. If all is found to be in order please
sign and return the enclosed duplicate copy of this Cover Note for completion of
our files.
-------------------------------------
Signature
-------------------------------------
Date
Xxx Xxxxxxxxx & Company, Inc.
By
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Managing Director
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