Closed block of business definition

Closed block of business means a block of business which a carrier ceases to actively offer or sell to new applicants.
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Closed block of business means a block of business that a
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Closed block of business means a block of business where an insurer ceases to market or sell in Wyoming any new individual, group or blanket disability insurance contracts under a particular policy form and no new contracts are being added to the block;
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Examples of Closed block of business in a sentence

  • Closed block of business for participating life policies of a Class 1 mutual company.


More Definitions of Closed block of business

Closed block of business means a block of business for which an insurer ceases to actively market, sell, and issue new contracts under a particular policy form in this State.
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Closed block of business means a block of business for which an
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Closed block of business means a block of business which an insurer ceases
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Closed block of business means a block of business which an insurer ceases to actively offer or sell to new applicants.
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Related to Closed block of business

  • Class of business means all or a distinct grouping of small employers as shown on the records of the small employer carrier.

  • Fully Diluted Capitalization means the aggregate number, as of immediately prior to the First Equity Financing, of issued and outstanding shares of Capital Stock, assuming full conversion or exercise of all convertible and exercisable securities then outstanding, including shares of convertible Preferred Stock and all outstanding vested or unvested options or warrants to purchase Capital Stock, but excluding (i) the issuance of all shares of Capital Stock reserved and available for future issuance under any of the Company’s existing equity incentive plans, (ii) convertible promissory notes issued by the Company, (iii) any SAFEs, and (iv) any equity securities that are issuable upon conversion of any outstanding convertible promissory notes or SAFEs.

  • Latest Balance Sheet Date has the meaning set forth in Section 3.10.

  • Closed Position means the opposite of an Open Position.

  • Measurement Date means the most recent Payment Date specified in the first column of the Cumulative Net Loss Rate Table.

  • Company Balance Sheet Date has the meaning set forth in Section 3.10.

  • Ownership Percentage with respect to any Member means the percentage of ownership of a Member determined by taking the total Capital Units held by such Member divided by the aggregate total number of issued and outstanding Capital Units.