Covered Insurance Contracts definition

Covered Insurance Contracts means all Insurance Contracts that are reinsurance agreements under which the reinsurance is assumed by the Company, other than on a coinsurance funds withheld basis, modified coinsurance basis or coinsurance/modified coinsurance basis, as listed on Schedule 1.1

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Covered Insurance Contracts means the reinsurance agreements listed in Schedule 1.1(a).

Covered Insurance Contracts means all ING Insurance Contracts, whether or not executed, entered into by the Company and reinsured immediately prior to the Effective Time under the SLD-SRUS Reinsurance Agreements other than the SLD-SRUS UHRL Reinsurance Agreement and the Second Amended and Restated SLD Coinsurance Agreement, effective as of October 1, 2008, between SRUS and SLD, including without limitation the reinsurance agreements listed on Schedule 1.1(a). The parties agree to update Schedule 1.1(a) from time to time to reflect Covered Insurance Contracts entered into in accordance with the terms of this Agreement or discovered after the Effective Time.

Examples of Covered Insurance Contracts in a sentence

• Upon the reinstatement of any lapsed or surrendered policy included within Covered Insurance Contracts, such reinstated Covered Insurance Contract shall be automatically reinsured hereunder, when, and to the extent that, the Company is liable under such reinstated Covered Insurance Contract.

• The Reinsurer shall provide the Company, no later than one-hundred and eighty (180) calendar days after the end of each calendar year, with copies of all actuarial opinions and actuarial memoranda and all reserve evaluations pertaining to the Reserves for the Covered Insurance Contracts, including, without limitation, any actuarial opinions and reserve evaluations performed by independent actuaries, auditors or other outside consultants.

• In the event of the insolvency of the Company, all reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Company or to its statutory liquidator, receiver or statutory successor on the basis of the liability of the Company under the Covered Insurance Contracts without diminution because of the insolvency of the Company.

• The Reinsurer will administer, or cause the administration of, the Covered Insurance Contracts and cause quarterly accountings with respect thereto to be provided to the Company in accordance with the Administrative Services Agreement.

• Recapture of the Covered Insurance Contracts shall be effective on the tenth (10th) day following the day on which the Company has provided the Reinsurer with such notice (the “Recapture Date”).

• If as a result of such examination the Company believes that the Reserves are not consistent with the requirements of the first sentence of this Section 2.3 in all material respects, the Reinsurer shall, at the Company’s request and expense, obtain and deliver to the Company an actuarial opinion as to the adequacy of the Reserves for the Covered Insurance Contracts produced by an independent actuary reasonably acceptable to the Company.

• This Agreement shall continue in force until such time as (i) the Company’s liability with respect to all Covered Insurance Contracts reinsured hereunder is terminated in accordance with their respective terms, or the Company has elected to recapture the reinsurance of Covered Insurance Contracts in full in accordance with Section 9.3, and (ii) the Company has received payments which discharge such liability in full in accordance with the provisions of this Agreement.

• This Agreement shall continue in force until such time as (i) the Company's liability with respect to all Covered Insurance Contracts reinsured hereunder is terminated in accordance with their respective terms, or the Company has elected to recapture the reinsurance of Covered Insurance Contracts following the occurrence of a Triggering Event, and (ii) the Company has received payments which discharge such liability in full in accordance with the provisions of this Agreement.

• In the event of the insolvency of the Company, all coinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Company or to its statutory liquidator, receiver or statutory successor on the basis of the liability of the Company under the Covered Insurance Contracts without diminution because of the insolvency of the Company.

• Recapture of the Covered Insurance Contracts shall be effective on the tenth (10th) day following the day on which the Company has provided the Reinsurer with such notice (the "Recapture Date").

More Definitions of Covered Insurance Contracts

Covered Insurance Contracts means all ING Insurance Contracts, whether or not executed, entered into by the Company and reinsured immediately prior to the Trifurcation Effective Time under the SLDI-SRLB Reinsurance Agreements, including without limitation the reinsurance agreements listed on Schedule 1.1(a) but excluding the reinsurance agreements identified as “Covered Insurance Contracts” in Reinsurance Agreement (A) and Reinsurance Agreement (B). The parties agree to update Schedule 1.1(a) from time to time to reflect Covered Insurance Contracts entered into in accordance with the terms of this Agreement or discovered after the Trifurcation Effective Time.

Covered Insurance Contracts means all ING Insurance Contracts, whether or not executed, entered into by the Company and reinsured immediately prior to the Effective Time under the SLDI-SRLB Reinsurance Agreements, including without limitation the reinsurance agreements listed on Schedule 1.1(a) but excluding the reinsurance agreements identified as “Covered Insurance Contracts” in Reinsurance Agreement (A) and Reinsurance Agreement (B). The parties agree to update Schedule 1.1(a) from time to time to reflect Covered Insurance Contracts entered into in accordance with the terms of this Agreement or discovered after the Effective Time.

Covered Insurance Contracts means all reinsurance agreements reinsured pursuant to the Reinsurance Agreements.

Covered Insurance Contracts has the meaning ascribed to it in Section 2.5.