Coinsurance Basis definition

Coinsurance Basis means reinsurance on a basis whereby the Company cedes to the Reinsurer reserves underlying the Policies and assets, valued at book value in accordance with SAP, which assets satisfy the reserve requirements necessary or required by applicable law or regulation with respect to the Reinsurer's proportionate share of liability hereunder, and such reserves and assets are held by the Reinsurer.
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Coinsurance Basis means reinsurance on a basis whereby Company cedes proportionally to Reinsurer the premiums and the insurance liabilities relating to or arising under the Policy.
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Examples of Coinsurance Basis in a sentence

  • Life Reinsurance Premiums Paid on a Coinsurance Basis The CEDING COMPANY shall pay the current premium as shown in Exhibit II based on the amount of life insurance reinsured, less the allowance stated in Exhibit III.

  • Life Reinsurance Premiums Paid on a Coinsurance Basis (IF APPLICABLE) The CEDING COMPANY shall pay the current annual premiums as shown in Exhibit II based on the amount of life insurance reinsured, less the allowance stated in Exhibit III.

  • The only such agreement to which either Insurance Subsidiary currently is a party is the Automatic Reinsurance Agreement on a Coinsurance Basis, effective December 31, 1998, between American Federated Life Insurance Company and Munich American Reassurance Company, as amended effective December 31, 1999, as further amended effective December 31, 2000, and as further amended on November 18, 2003 (the “Reinsurance Agreement”), which agreement is in full force and effect.

  • Major Medical: - Prescription Drug Coverage on a 90/10 Co-insurance Basis.

  • Life Reinsurance Premiums Paid on a Coinsurance Basis (IF APPLICABLE) The CEDING COMPANY shall pay the current annual premiums as shown in Exhibit II based on the amount of life insurance reinsured, less the applicable allowances stated in Exhibit M.

  • On and after the Effective Date, Company agrees to cede to Reinsurer, and Reinsurer agrees to reinsure from Company, on a Coinsurance Basis, 100% of Losses under the Policy and 100% of any Loss Adjustment Expenses incurred by Company with respect to the Policy.

  • Life Reinsurance Premiums Paid on a Coinsurance Basis (if applicable).

  • Life Reinsurance Premiums Paid on a Coinsurance Basis (if applicable) The CEDING COMPANY shall pay the current annual premiums as shown in Exhibit II based on the amount of life insurance reinsured, less the allowance stated in Exhibit III.