Business Reinsured definition

Business Reinsured shall have the meaning set forth in Section 3.01. “Ceding Commission” means [REDACTED]. ]
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Business Reinsured shall have the meaning set forth in Section 3.01. “Ceding Company” shall have the meaning set forth in Section 2.01. [REDACTED]
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Business Reinsured shall have the meaning set forth in Section 3.01.
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Examples of Business Reinsured in a sentence

  • The Reinsurer will have no obligation to any insured, owner, or beneficiary under the Business Reinsured.

  • The Ceding Company shall maintain all Books and Records that relate to this Agreement and the Business Reinsured in accordance with industry standards of insurance record keeping, and shall maintain an adequate system of internal controls and procedures for financial reporting relating to the Business Reinsured.

  • From and after the Effective Date, the Ceding Company shall establish Non-Guaranteed Elements for the Business Reinsured in accordance with the Non-Guaranteed Element Policy.

  • The Reinsurer shall owe to the Ceding Company an initial modified coinsurance adjustment (the “Initial Modified Coinsurance Adjustment”) equal to the sum of the Net Statutory Reserve as of the Effective Date for each of the types of General Account Modified Coinsurance Business, each multiplied by the applicable Quota Share for the type of Business Reinsured.

  • The Reinsurer may make recommendations to the Ceding Company and the Ceding Company shall fully consider such recommendations and shall not unreasonably reject any such recommendations that comply with the terms of the Business Reinsured, applicable law and applicable Actuarial Standards of Practice, however, the Ceding Company shall retain the ultimate authority to establish Non-Guaranteed Elements in accordance with the Non-Guaranteed Element Policy.

  • This Agreement shall be effective as of October 1, 2021 (the “Effective Date”) and shall remain in force hereunder until the earlier of (a) the date on which the Ceding Company’s liability for all Business Reinsured terminates; and (b) the Recapture Effective Date, provided that the Terminal Cash Settlement has been made.

  • On the Closing Date, the Ceding Company shall establish the General Account Portfolios and the [REDACTED] for the Business Reinsured and will transfer assets thereto in accordance with Article 5.

  • The Ceding Company shall notify the Reinsurer not less than [REDACTED] days prior to the proposed effective date of any material amendment or modification to any of the contracts underlying the Business Reinsured.

  • The Ceding Company will not materially change, alter or otherwise compromise its administrative practices that could have a material adverse effect on the Reinsurer with respect to the Business Reinsured without the prior written consent of the Reinsurer; such consent not to be unreasonably withheld, conditioned or delayed, it being understood that this sentence shall not be construed to alter the Ceding Company’s other obligations under this Agreement.

  • Certain types of Business Reinsured under this Agreement provide the contractholder or annuitant settlement options that include the deposit of contract proceeds into a retained asset account with the Ceding Company.


More Definitions of Business Reinsured

Business Reinsured means the reinsurance which falls within the scope of this Agreement as defined in Clause 3 and set out in Schedule 1 and Schedule 2;
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Business Reinsured means all agreements of assumed reinsurance (a) entered into by the Ceding Company, that (i) first become effective within the Underwriting Period and (ii) have a term of less than twenty-four (24) months, and (b) that are traditional short-tail business classified by the Ceding Company as business constituting one or more of the following business lines:
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Business Reinsured. In force, new and renewal business classified ARTICLE 1 by the Company as Non-Standard Private Passenger Automobile Liability and/or Physical Damage. ACCOUNT BASIS: Losses Occurring COVER: 30% Quota Share ARTICLE 2 Maximum original Policy limits: Bodily injury/per person $10,000 Bodily Injury/per occurrence $20,000 Property Damage $10,000 Automobile Physical Damage (ACV) $30,000 Personal Injury Protection Statutory $10,000 (Maximum Deductible $2,000) Uninsured Motorist same as Bodily Injury Coverage provided hereunder is subject to a maximum recoverable of $1,000,000 any one Loss Occurrence.
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Business Reinsured hereunder is defined to mean: A. All policies, certificates and binders of insurance covering inforce, new and renewal business under-written and classified by the COMPANY as Homeowners', Condominium Owners', and Dwelling Fire policies on the list of policies set forth on Exhibit I-A hereto, ("POLICIES") issued or renewed on or after January 1, 2001 but prior to the EFFECTIVE DATE. COMPANY represents and warrants that Exhibit 1-A sets forth complete and accurate details of the POLICIES reinsured hereunder; provided, however, that notwithstanding the foregoing, if and to the extent that Exhibit 1-A is inaccurate, the sole remedy of the parties hereto is to correct the inaccuracy in Exhibit 1-A and, as corrected, Exhibit 1-A will be incorporated herein. B. All POLICIES issued or renewed by the COMPANY on or after the EFFECTIVE DATE through March 31, 2002, but only to the extent that such POLICIES are renewals of POLICIES written by the COMPANY prior to the EFFECTIVE DATE that, despite its best efforts, the COMPANY has been unable to non-renew.
Sample 1
Business Reinsured. New and renewal business written or renewed by or on behalf of the Company by various issuing carriers, on business classified by the Company as Private Passenger Automobile Liability business. ACCOUNT BASIS: Underwriting Year. XXX XXXXXXXXX Page: 2 of 18 File #: 8958-00-0002-00 Effective Date: January 1, 2004 Issue Date: COVER: In respect of cessions to this Contract, the Reinsurer will be liable in respect of each and every loss, each and every policy, each and every coverage, for the ultimate net loss (including extra contractual obligations) in excess of the applicable compulsory and/or financial responsibility primary automobile liability limits which are further subject to the following minimum limits: Automobile Bodily Injury Liability $10,000 per person/ $20,000 per occurrence Property Damage Liability $5,000 per occurrence Uninsured/Underinsured Motorists $10,000 per person/ Bodily Injury Liability $20,000 per occurrence Uninsured/Underinsured Motorists $5,000 per occurrence Property Damage Liability Personal Injury Protection Statutory Coverages Medical Payments $10,000 per person The Reinsurers limit of liability will be the difference between the applicable compulsory and/or financial responsibility or minimum primary automobile liability limits as referenced above and the actual Policy limits as respects each and every loss, each and every Policy, each and every coverage, subject to maximum Policy limits as follows: Automobile Bodily Injury Liability $100,000 per person/ $300,000 per occurrence Property Damage Liability $100,000 per occurrence Uninsured/Underinsured Motorists $100,000 per person/ Bodily Injury Liability $300,000 per occurrence XXX XXXXXXXXX Page: 3 of 18 File #: 8958-00-0002-00 Effective Date: January 1, 2004 Issue Date: COVER (CONT'D): Uninsured/Underinsured Motorists $100,000 per occurrence Property Damage Liability Personal Injury Protection Statutory Coverages Medical Payments $10,000 per person COMMENCEMENT AND TERMINATION:
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Related to Business Reinsured

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Reinsurers shall be understood to mean “Reinsurers”, “Underwriters” or whatever other term is used in the attached reinsurance document to designate the reinsurer or reinsurers.

  • Financial Services Business for purposes of this Unit Agreement shall mean the business of banking, including deposit, credit, trust and investment services, mortgage banking, asset management, and brokerage and investment banking services.

  • Reinsurance Agreement means any agreement, contract, treaty, certificate or other arrangement whereby any Regulated Insurance Company agrees to transfer, cede or retrocede to another insurer or reinsurer all or part of the liability assumed or assets held by such Regulated Insurance Company under a policy or policies of insurance issued by such Regulated Insurance Company or under a reinsurance agreement assumed by such Regulated Insurance Company.

  • Business Rules means the business rules established by JSCC regarding its Financial Instruments Obligation Assumption Service for CDS Transactions, as amended, if applicable.

  • Comprehensive means an assistance program that focuses on

  • Insured means the Executive.

  • Comprehensive agreement means the comprehensive agreement between the private entity and the responsible public entity that is required prior to the development or operation of a qualifying project.

  • Reinsurance Agreements means any agreement, contract, treaty, certificate or other arrangement by which any Insurance Subsidiary agrees to transfer or cede to another insurer all or part of the liability assumed or assets held by it under one or more insurance, annuity, reinsurance or retrocession policies, agreements, contracts, treaties, certificates or similar arrangements. Reinsurance Agreements shall include, but not be limited to, any agreement, contract, treaty, certificate or other arrangement that is treated as such by the applicable Department.

  • Comprehensive Plan means a generalized, coordinated land use map and policy statement of the governing body of a local government that interrelates all functional and natural systems and activities relating to the use of lands, including but not limited to sewer and water systems, trans- portation systems, educational facilities, recreational facilities, and natural resources and air and water quality management programs. “Comprehensive” means all-inclusive, both in terms of the geographic area covered and functional and natural activities and systems occurring in the area covered by the plan. “General nature” means a summary of policies and proposals in broad catego- ries and does not necessarily indicate specific locations of any area, activity or use. A plan is “co- ordinated” when the needs of all levels of governments, semipublic and private agencies and the citizens of Oregon have been considered and accommodated as much as possible. “Land” includes water, both surface and subsurface, and the air.

  • Reinsured Policies has the meaning assigned to it in the Reinsurance Agreement.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • general insurance business means any class of insurance business other than long-term insurance business;

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Business Relation means any current or prospective client, customer, licensee, or other business relation of the Company Group, or any such relation that was a client, customer, licensee, supplier, or other business relation within the six (6) month period prior to the expiration of the Employment Period, in each case, to whom I provided services, or with whom I transacted business, or whose identity became known to me in connection with my relationship with or employment by the Company.

  • Reinsurer has the meaning set forth in the preamble.

  • Insurance Subsidiaries means, collectively, MGMM Insurance Company, a Nevada corporation and any Subsidiaries formed for the purpose of facilitating and providing insurance coverage and claims services for the Company and its Subsidiaries.

  • Reinsurance intermediary means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

  • Business Records means, in respect of any Person, all data and Records relating to such Person, including client and customer lists and Records, referral sources, research and development reports and Records, cost information, sales and pricing data, customer prospect lists, customer and vendor data, production reports and Records, service and warranty Records, equipment logs, operating guides and manuals, financial and accounting Records, personnel Records (subject to Applicable Law), creative materials, advertising materials, promotional materials, studies, reports, correspondence and other similar documents and records.

  • Reinsured Liabilities means the General Account Liabilities, the Risk Control Separate Account Liabilities, the Declared Rate Separate Account liabilities and the Variable Separate Account Liabilities.

  • Material Insurance Subsidiary means a Material Subsidiary that is also an Insurance Subsidiary.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Covered Business means (A) during the term, any business in which the Company is engaged and (B) after the Term, any business in which the Company was engaged as of the end of the Term.

  • Insured contract means any written: a. leases of premises; b. easement agreements, except those concerning construction or demolition operations abutting railroad property; c. obligation to insure a municipality as required by law or ordinance, except in connection with work for the municipality; d. sidetrack agreements; or e. elevator maintenance agreements.