Adverse Development Cover definition

Adverse Development Cover means the Adverse Development Reinsurance Agreement, dated as of August 4, 2006, between XLCA and XLRA, and the Indemnification Agreement, dated as of August 4, 2006, between XLFA and XLI.
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Adverse Development Cover means the Swiss Re Adverse Development Cover as described in the document “ADC Binding Quote Conifer 2017 08 31.” “Hedging Contract” means any foreign exchange contract, currency swap agreement, futures contract, commodities hedge agreement, interest rate protection agreement, interest rate future agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, option agreement or any other similar hedging agreement or arrangement entered into by a Person in the ordinary course of business. “Senior Loan Agreement” means that certain Credit Agreement dated as of June 21, 2018, between the Company and The Huntington National Bank, as the same may be amended or modified from time to time.
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Adverse Development Cover means the Swiss Re Adverse Development Cover as described in the document “ADC Binding Quote Conifer 2017 08 31. “Affiliate” means, at any time, and with respect to any Person, (a) any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and (b) any Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any Subsidiary or any Person of which the Company and its Subsidiaries beneficially own or hold, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company. “Agreement” means this Amended and Restated Note Purchase Agreement, including all Schedules attached to this Agreement. “Amendment Agreement” is defined in Section 1(c). “Anti-Corruption Laws” means any law or regulation in a U.S. or any non-U.S. jurisdiction regarding bribery or any other corrupt activity, including the U.S. Foreign Corrupt Practices Act and the U.K. Xxxxxxx Xxx 0000. “Anti-Money Laundering Laws” means any law or regulation in a U.S. or any non-U.S. jurisdiction regarding money laundering, drug trafficking, terrorist- related activities or other money laundering predicate crimes, including the Currency and Foreign Transactions Reporting Act of 1970 (otherwise known as the Bank Secrecy Act) and the USA PATRIOT Act. “Blocked Person” means (a) a Person whose name appears on the list of Specially Designated Nationals and Blocked Persons published by OFAC, (b) a Person, entity, organization, country or regime that is blocked or a target of sanctions that have been imposed under U.S. Economic Sanctions Laws or (c) a Person that is an agent, department or instrumentality of, or is otherwise beneficially owned by, controlled by or acting on behalf of, directly or indirectly, any Person, entity, organization, country or regime described in clause (a) or (b). 1 Schedule B 25598028
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Examples of Adverse Development Cover in a sentence

  • The NYID has approved in writing the terms of this Agreement and any Transaction to which XLRA is a party, including the Adverse Development Cover Commutation Agreement, pursuant to applicable Law, including Section 1505 of the New York State Insurance Laws.

  • The Company will apply the proceeds of the sale of the Notes hereunder for the acquisition by one or more of its Subsidiaries of the SwissRe Adverse Development Cover as described in the document “ADC Binding Quote Conifer 2017 08 31”, the repayment of the Existing Credit Facility and working capital purposes.

  • Favorable net prior year loss reserve development, net of reinsurance, totaled $60 million, and was primarily due to $53 million of amortization from the Adverse Development Cover (ADC).

  • Upon such rescission, the Adverse Development Cover and all rights, obligations and liabilities of the Parties under the Adverse Development Cover shall be reinstated as if this Agreement had never been executed.

  • Reinsurance Contract In DisputeTower has a commercial dispute with Peak Re, the provider of the Adverse Development Cover (ADC) entered into in April 2015.

  • On January 10, 2022, Holdings and certain of its subsidiaries, including the Company (together, “Aspen”) entered into an Amended and Restated Reinsurance Agreement with a subsidiary of Enstar Group Limited (the “Agreement”), which amends and restates the Adverse Development Cover Agreement, dated as of March 2, 2020 (the “Original Agreement”), previously entered into between the parties.

  • The claims department has produced claims handling guidelines which reflect Lloyd’s minimum standards.Adverse Development CoverIn 2017, the Syndicate took out an Adverse Development Cover (“ADC”) contract, where it came into effect from 1 January 2017.

  • The Group considers the use of commutations and/ or the use of additional Adverse Development Cover to mitigate the potential risk of default.

  • GPI also provides an underwriting solution for a small number of insurance intermediaries and an appointed representative in respect of niche insurance products in the miscellaneous financial loss class of business.GPI had Loss Portfolio Transfer (LPT) and Adverse Development Cover (ADC) reinsurance contract with Sirius Point which was commuted on the 30th December 2021.

  • E.4 Differences between the standard formula and any internal models used An internal model is not used by the Company.E.5 Non-compliance with the minimum capital requirement and significant non-compliance with the solvency capital requirement Due to the non-admission of an Adverse Development Cover in the standard formula SCR calculation under Solvency II, at December 2016, the SCR was not covered by eligible own funds.


More Definitions of Adverse Development Cover

Adverse Development Cover means the Swiss Re Adverse Development Cover as described in the document “ADC Binding Quote Conifer 2017 08 31.”
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Related to Adverse Development Cover

  • site development plan means a dimensioned plan drawn to scale that indicates details of the proposed land development, including the site layout, positioning of buildings and structures, property access, building designs and landscaping;

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Clinical Development means the conduct of clinical trials in humans to assess the dosing, safety and/or efficacy of the Product, including but not limited to Phase I Clinical Trials, Phase II Clinical Trials, Phase Ill Clinical Trials and Phase IV Clinical Trials.

  • spatial development framework means the Mhlontlo Municipal Spatial Development Framework prepared and adopted in terms of sections 20 and 21 of the Act and Chapter 2 of this By-Law;

  • Adverse decision means any decision by a review agent not to certify an admission,

  • Commercial Development Plan means the written commercialization plan attached as Appendix E.

  • Mixed use development means a Building used, designed or intended for Residential and Non-Residential uses, where:

  • Clinical experience means providing direct services to individuals with mental illness or the provision of direct geriatric services or special education services. Experience may include supervised internships, practicums, and field experience.

  • Development Team means the entities and professionals assembled to develop and manage the Project, typically including the Applicant, Owner, Developer(s), Co-Developer(s) and general partner or any other related entities in which the Developer or Co-Developer has an identity of interest or a Controlling Interest.

  • Research Project means a discrete scientific endeavor to answer a research question or a set of research questions related to medical marijuana and is required for a medical marijuana research license.

  • experimental development means acquiring, combining, shaping and using existing scientific, technological, business and other relevant knowledge and skills with the aim of developing new or improved products, processes or services. This may also include, for example, activities aiming at the conceptual definition, planning and documentation of new products, processes or services;

  • Floodplain Development Permit means any type of permit that is required in conformance with the provisions of this ordinance, prior to the commencement of any development activity.

  • Development Phase means the period before a vehicle type is type approved.

  • Initial Development Plan has the meaning set forth in Section 3.2(b).

  • Global Development Plan has the meaning set forth in Section 3.1.

  • sustainable development means development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs;

  • Existing development means development, other than that associated with agricultural or forest management activities, that meets one of the following criteria:

  • Total Development Cost means the total of all costs incurred in the completion of a Development, all of which shall be subject to the review and approval by the Credit Underwriter and the Corporation pursuant to this rule chapter, and as further described in Rule 67-48.0075, F.A.C.

  • the Development means the residential development for –

  • Infill development means new construction on a vacant commercial lot currently held as open space.

  • Commercial Development means any development on private land that is not heavy industrial or residential. The category includes, but is not limited to: hospitals, laboratories and other medical facilities, educational institutions, recreational facilities, plant nurseries, car wash facilities, mini-malls and other business complexes, shopping malls, hotels, office buildings, public warehouses and other light industrial complexes.

  • Economic development means all powers expressly granted and reasonably inferred pursuant to SDCL § 9-54.

  • Joint Development Committee or “JDC” has the meaning set forth in Section 3.10.

  • Joint Development Agreement has the meaning provided in Section 5.3.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Employee Developments means any idea, discovery, invention, design, method, technique, improvement, enhancement, development, computer program, machine, algorithm or other work or authorship that (i) relates to the business or operations of the Company or any of its subsidiaries or affiliates, or (ii) results from or is suggested by any undertaking assigned to the Employee or work performed by the Employee for or on behalf of the Company or any of its subsidiaries or affiliates, whether created alone or with others, during or after working hours. All Confidential Information and all Employee Developments shall remain the sole property of the Company or any of its subsidiaries or affiliates. The Employee shall acquire no proprietary interest in any Confidential Information or Employee Developments developed or acquired during the Term. To the extent the Employee may, by operation of law or otherwise, acquire any right, title or interest in or to any Confidential Information or Employee Development, the Employee hereby assigns to the Company all such proprietary rights. The Employee shall, both during and after the Term, upon the Company’s request, promptly execute and deliver to the Company all such assignments, certificates and instruments, and shall promptly perform such other acts, as the Company may from time to time in its discretion deem necessary or desirable to evidence, establish, maintain, perfect, enforce or defend the Company’s rights in Confidential Information and Employee Developments.