Eligible Insurance Company definition

Eligible Insurance Company means an Issuing Insurance Company organized under the laws of, and subject to regulation by, any state of the United States of America, provided that on the Purchase Date of an Eligible Life Insurance Policy, either such Issuing Insurance Company is Federal Employees Group Life Insurance Company Co. or the financial strength rating assigned to the insurance company (or to the Person that has issued a credit swap, guaranty or other credit enhancement with respect to such Issuing Insurance Company that is satisfactory to the Borrower) is at least A- by S&P, A3 by Moody’s, A- by Fitch Inc. or A- by A.M. Best Company. If such Issuing Insurance Company is rated by more than one rating agency and such ratings are split ratings, the lower of such ratings shall be used in order to determine whether such Issuing Insurance Company is an Eligible Insurance Company pursuant to the foregoing sentence.
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Eligible Insurance Company means (a) an insurance company which is licensed and in good standing to do business in the state in which the policy to which a Premium Receivable relates is issued by such insurance company, (b) a joint underwriting organization, intercompany insurance pool or intercompany reinsurance pool which is licensed or otherwise permitted to do business in the state in which the policy to which a Premium Receivable relates is issued by such joint underwriting organization or intercompany insurance pool, (c) a foreign or alien insurance company which is authorized or approved to issue insurance on a nonadmitted basis, through a licensed surplus or excess lines broker, in the state in which the policy to which a Premium Receivable relates is issued by such foreign or alien insurance company. No such insurer may be an Eligible Insurance Company (i) if such insurer is the subject of a rehabilitation or liquidation proceeding commenced by a state or foreign insurance regulatory authority, or (ii) if such insurer is not, in the judgment of FPF, a creditworthy Person which FPF has full expectations will return, on a timely basis, unearned premiums on Cancelled Premium Receivables.
Sample 1
Eligible Insurance Company means each of the following Insurance Companies: Net Insurance Life S.p.A., Met Life, HDI Assicurazioni S.p.A., AXA France Vie, Net Insurance S.p.A., AXA France Iard, Assurant General Insurance Limited, Vittoria Assicurazioni S.p.A., Sogecap S.A., Nationale Suisse Vita S.p.A., Credit Life AG e Great American International Insurance Limited (GAIIL).
Sample 1

Examples of Eligible Insurance Company in a sentence

  • The Board of Directors, in considering and passing upon the application of any independent Eligible Insurance Companyinsurance company, consolidated group, fleet or insurance holding company system of Eligible Insurance Company insurance company affiliates for regular membership or any individual or business for associate membership in the Association, shall prescribe procedures for consideration and approval of applications for members.

  • If such Issuing Insurance Company is rated by more than one rating agency and such ratings are split ratings, the lower of such ratings shall be used in order to determine whether such Issuing Insurance Company is an Eligible Insurance Company pursuant to the foregoing sentence.

  • Eligible Insurance Company: The contract relates to an insurance policy issued by an Eligible Insurance Company (see below).

Related to Eligible Insurance Company

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Insurance premium finance company means a person engaged in the business of

  • Captive insurance company means a pure captive insurance company, association captive insurance company, captive reinsurance company, sponsored captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or licensed under this chapter. For purposes of this chapter, a branch captive insurance company must be a pure captive insurance company with respect to operations in this State, unless otherwise permitted by the director.

  • Title Insurance Company as defined in Section 5.1(l).

  • Association captive insurance company means a company that insures risks of the member organizations of the association and their affiliated companies.

  • variable insurance contract means a contract of life insurance under which the interest of the purchaser is valued for purposes of conversion or surrender by reference to the value of a proportionate interest in a specified portfolio of assets.

  • Eligible Institution Any of the following:

  • Sponsored captive insurance company means a captive insurance company:

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Insurance Administration means, with respect to each Shared Policy, the accounting for premiums, retrospectively-rated premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of each of the Shared Policies; and the reporting to excess insurance carriers of any losses or claims which may cause the per-occurrence, per claim or aggregate limits of any Shared Policy to be exceeded, and the distribution of Insurance Proceeds as contemplated by this Agreement.

  • Pure captive insurance company means a company that

  • Blanket insurance policy means a group policy covering a defined class of

  • Life Insurance Policy has the meaning given in Section 6.10.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • insurance agent means, subject to subsection (2), any person who for any compensation and through any medium does one or more of the following:

  • Credit life insurance means insurance on the life of a debtor in connection with

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Qualified Insurer A mortgage guaranty insurance company duly authorized and licensed where required by law to transact mortgage guaranty insurance business and approved as an insurer by Xxxxxx Xxx or Xxxxxxx Mac.

  • Finance Company means any Finance Company or other lender with whom You have agreed a Loan or credit agreement through the Supplying Outlet.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.