Business Guidelines definition
Examples of Business Guidelines in a sentence
All Reinsured Policies will be issued and administered in accordance with the Business Guidelines.
The Company will notify the Reinsurer of any change that materially affects the reinsured business, including changes to the Business Guidelines.
If a Reinsured Policy is converted according to its terms and the applicable provisions of the Business Guidelines, the Company will notify the Reinsurer as specified in Exhibit F.
Non-contractual increases which are underwritten consistently with the Business Guidelines and have the same sales compensation paid as a new issue will be reinsured as a new issue.
If the Company accepts the Reinsurer’s offer and the policy is placed in force in accordance with the Business Guidelines provided to the Reinsurer, the Company will duly notify the Reinsurer according to the New Business Report specified in Exhibit F.
If the Reinsurer discovers that the Company’s claims paying practices and procedures differ materially from those performed at the inception of the Agreement or from the Business Guidelines, then, in addition to any other remedies, the Reinsurer may, with 30 days’ written notice, adjust the threshold amounts specified above.
Such changes include, but are not limited to, changes to the Business Guidelines, including material changes in premium rates or cost of insurance rates charged, a material change in the target spread used to manage crediting rates or in the method used to determine crediting rates, or outsourcing of functions such as underwriting, reinsurance administration, or claims.
If a Reinsured Policy is converted according to the policy's terms and the applicable provisions of the Business Guidelines, the Company will notify the Reinsurer as specified in Exhibit F.
Therefore, the Company will notify the Reinsurer of any change that materially affects the reinsured business, including changes to the Business Guidelines.
Read and abide by the Company’s Business Guidelines and other Company policies and procedures, as they may be amended from time to time.