Direct Insurer definition

Direct Insurer means the insurer(s) with whom a Direct Insurance is placed from time to time in accordance with Schedule 7 (Insurance).

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Direct Insurer means any insurer other than a reinsurer, an authorised reinsurer or a captive insurer;

Direct Insurer means an insurance undertaking, with which the injured party has concluded a third party liability insurance contract;

Examples of Direct Insurer in a sentence

• For the purpose of conduct of claims and application of proceeds under any Reinsurance taken out by a Direct Insurer, references to delivery of an Enforcement Notice in this Clause 5 shall include delivery of the notice referred to in Clause 2.2.1 (Enforcement of Assignment) of the Assignment of Reinsurances to such Direct Insurer following an “Insolvency Event” (as defined in the Assignment of Reinsurances).

• The Servicing Agreements shall not be amended, modified or supplemented in any way that adversely impacts the ability of the Trustee to obtain the Servicing File without the prior written consent of the Beneficiary and the Direct Insurer.

• The Trustee agrees to notify the Grantor of the occurrence of any such withdrawal by the Beneficiary or the Direct Insurer, as applicable, within two (2) Business Days following such delivery.

• Each of the Grantor, the Beneficiary and the Direct Insurer agrees that the Trustee cannot open the Trust Account hereunder unless and until the Trustee verifies the Grantor’s, the Beneficiary’s and the Direct Insurer’s identity in accordance with the Trustee’s CIP.

• Any successor Trustee shall be a bank that is a member of the Federal Reserve System and a Qualified United States Financial Institution, and shall not be an Affiliate of the Grantor, the Beneficiary or the Direct Insurer.

• The Trust Account shall be subject to withdrawal by the Beneficiary, the Direct Insurer and the Grantor solely as provided herein.

• The Trustee shall administer the Trust Account in its name as trustee for the benefit of the Beneficiary and the Direct Insurer.

• When calling back, the Trustee will request from the staff member of the Grantor, the Beneficiary or the Direct Insurer, as the case may be, his or her name.

• The Trustee may be removed by prior written notice executed by the Grantor, the Beneficiary and the Direct Insurer.

• The Trustee agrees to use reasonable efforts to advise the Grantor, the Beneficiary and the Direct Insurer of the occurrence of any default with respect to securities held in trust hereunder to the extent that it has received notice of same.

More Definitions of Direct Insurer

Direct Insurer means the insurer(s) with whom a Direct Insurance is placed from time to time in accordance with paragraph 10 of Part A of Schedule 5 (Covenants)

Direct Insurer shall include any successor of the Direct Insurer by operation of law including, without limitation, any liquidator, rehabilitator, receiver or conservator.

Direct Insurer means [___], a Connecticut-domiciled life insurer.

Direct Insurer means any insurer other than a reinsurer or a captive insurer;

Direct Insurer means any insurer other than a reinsurer, an authorised reinsurer or a captive insurer; “director” has the same meaning as in section 4(1) of the Companies Act (Cap. 50);