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 WPAC, a creditworthy Person which WPAC has full expectations will return, on a timely basis, unearned premiums on Cancelled Premium Receivables.
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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).
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Examples of Eligible Insurance Company in a sentence

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

  • 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.

  • 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.


More Definitions of Eligible Insurance Company

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. “Eligible Life Insurance Policy” means any Insurance Policy that meets all of the following criteria as of the Purchase Date: (a) the Insurance Policy: (i) offers “permanent” life insurance benefits (whole life, variable universal life or universal life); (ii) has no more than two Insureds; and (iii) is issued by an Eligible Insurance Company; (b) the Contestability Period for such Insurance Policy shall have expired; (c) the Rescission Period shall have expired, unless the Net Death Benefit of such Insurance Policy, when combined with the Net Death Benefit of all of the other Eligible Life Insurance Policies that then, or that will on such Purchase Date, constitute Trust Property for which the Rescission Period shall not have expired is less than $30,000,000; (d) the Net Death Benefit exceeds $50,000 and does not exceed $15,000,000; (e) the Insurance Policy does not have a provision (including, but not limited to, any provisions relating to war or terrorist acts) limiting the future realization of Net Death Benefit upon and due to the death of any Insured (either at issue or after any conversion privilege exercisable at the sole option of the Insured) other than for non- payment of premiums; (f) the Life Expectancy, as of the relevant Purchase Date is not less than 36 months and does not exceed 168 months; (g) the Originator has determined that the Insurance Policy is an Eligible Life Insurance Policy; (h) the Insured is not less than 65 years old; (i) all restrictions or obligations imposed by applicable laws have been complied with in relation to the origination and a...
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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.

  • Regulated Insurance Company means any Subsidiary of the Borrower, whether now owned or hereafter acquired, that is authorized or admitted to carry on or transact Insurance Business in any jurisdiction and is regulated by any Applicable Insurance Regulatory Authority.

  • Captive insurance company means any pure captive insurance company, association captive

  • Title Insurance Company means the company that has or will issue the title policies with respect to a Leased Property, which company shall be reasonably acceptable to the Funding Parties.

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

  • Eligible Institution Any of the following:

  • Insurance Advisor means Aon Risk Services and any replacement thereof appointed by the Required Secured Parties and, if no Event of Default shall then be occurring, after consultation with the Borrower.

  • 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 contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.

  • 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 6.11.

  • 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.