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Ceding definition

Ceding means transferring a portion of an insured risk from an insurer to a reinsurer;
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Ceding means the transfer of all or part of the risks of insurance by one insurer to another.
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Ceding. Insurer shall retain ownership of all assets held as Reserves on the Policies reinsured hereunder and Reinsurer shall have no legal, equitable or security interest in such assets.
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Examples of Ceding in a sentence

  • This Agreement applies only to the issuance of insurance by the Ceding Company in a jurisdiction in which it is properly licensed.

  • The Reinsurer will not reimburse the Ceding Company for premium taxes.

  • However, once the underpayment is discovered, the Ceding Company will be required to pay to the Reinsurer the difference between the full premium amount and the amount actually paid, without interest.

  • Any amount owed to the Ceding Company or to the Reinsurer by reason of such supplementary accounting will be paid promptly upon the completion thereof.

  • During the notification period, the Ceding Company will continue to cede and the Reinsurer will continue to accept policies covered under the terms of this Agreement.

  • This schedule of calculations will be accompanied by a statement signed by an officer of the Ceding Company stating that the Ceding Company will report such net consideration in its tax return for the preceding calendar year.

  • Claim investigation expenses do not include expenses incurred by the Ceding Company as a result of a dispute or contest arising out of conflicting claims of entitlement to policy proceeds or benefits.

  • Where two or more reinsurers are participating in the same claim and a majority in interest elect to interpose a defense or defenses to any such claim, the expense will be apportioned in accordance with the terms of this Agreement as though such expense had been incurred by the Ceding Company.

  • Customer Information includes, but is not limited to, medical, financial, and other personal information about proposed, current, and former policyowners, insureds, applicants, and beneficiaries of policies issued by the Ceding Company.

  • The Ceding Company may not revoke its election to recapture for policies becoming eligible at future anniversaries.

Related to Ceding

  • Reinsurer has the meaning set forth in the preamble.

  • Ceding Company has the meaning set forth in the preamble.

  • 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;

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

  • Ceding Commission shall have the meaning specified in Section 5.2.

  • 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.

  • 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.

  • 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.

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

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

  • 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.

  • Insurer means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.

  • Covered policy means a policy of commercial risk insurance, professional liability insurance or public entity insurance.

  • Shared Policies has the meaning set forth in Section 8.1(b).

  • Insurance producer means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance, including annuities.

  • Policy Provider means MBIA Insurance Corporation, or any successor thereto.

  • Insurance carrier means every insurance carrier duly

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.

  • Policy Period means the period commencing from effective date and hour as shown in the Policy Schedule and terminating at midnight on the expiry date as shown in the Policy Schedule.

  • Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to:

  • Insurance Advisor means Aon Risk Services and any replacement thereof appointed by the Required Secured Parties and, if no Event of Default shall then be occurring, after consultation with the Borrower.

  • Coinsurance means that you pay a percent of the total cost of the drug each time you fill a prescription.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Retrocession Agreement means any agreement, contract, treaty or other arrangement whereby one or more insurers or reinsurers, as retrocessionaires, assume liabilities of reinsurers under a Reinsurance Agreement or other retrocessionaires under another Retrocession Agreement.

  • Reinsured Liabilities means the General Account Liabilities and the Separate Account Liabilities.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

Most Referenced Clauses

Most Referenced Definitions