Fronting Arrangement definition

Fronting Arrangement means an agreement or other arrangement by a Regulated Insurance Company pursuant to which an insurer or insurers agree to issue insurance policies at the request or on behalf of such Regulated Insurance Company and such Regulated Insurance Company assumes the obligations in respect thereof pursuant a Reinsurance Agreement or otherwise.

Fronting Arrangement has the meaning given to such term in Clause 22.2 (Financial Definitions).

Fronting Arrangement means, for purposes of this Section 3.29, an arrangement pursuant to which a Person issues insurance policies or annuity contracts on behalf of another Person and such other Person assumes one hundred (100) percent of the insurance liabilities arising under such policies or contracts.

Examples of Fronting Arrangement in a sentence

• All insurance-related liabilities of the Company existing as of the Closing (other than reserves for losses and loss adjustment expenses for claims incurred but not reported totaling $35,500 at June 30, 2002 that relate to a fronting program in runoff for Eastern Atlantic Insurance Company, which is reinsured 100% by unaffiliated reinsurers) shall pertain only to the Third Party Fronting Arrangements or the GAINSCO Fronting Arrangement.

• Since the last date of the period covered by the Company's most recently filed Statutory Insurance Statement, the Company has not incurred any indebtedness, obligation or liability of any kind, whether absolute, accrued, contingent, known or unknown, other than such indebtedness, obligation or liability incurred in the ordinary course of business in connection with the GAINSCO Fronting Arrangement or the Third Party Fronting Arrangements.

• As of the Closing, the Company shall have no other policies, binders, commitments, endorsements or insurance contracts of any kind in force other than such policies, binders, commitments, endorsements and insurance contracts issued on behalf of, or pursuant to, the Third Party Fronting Arrangements and the GAINSCO Fronting Arrangement.

• Except as shown in the Company's most recently filed Statutory Insurance Statement and except for liabilities incurred in the ordinary course of business under the GAINSCO Fronting Arrangement or the Third Party Fronting Arrangements, as of the Closing Date, the Company will not directly or indirectly be liable upon, or obligated in any other way to provide funds in respect of, or to guarantee or assume, any debt, obligation or dividend of any person.

More Definitions of Fronting Arrangement

Fronting Arrangement means a situation in which a fronting company issues a policy for workers' compensation insurance to an employer member of a group self-insurer licensed under this Title and cedes all of the premium and exposure of the policy for out-of-state employees to the self-insured group.

Fronting Arrangement means a reinsurance arrangement whereby one hundred percent (100%) of the risk exposure for a policy or group of policies is ceded to the reinsurer while the insurer remains legally responsible for handling any claims under its issued policies;

Fronting Arrangement means an agreement or other arrangement by a Regulated Insurance Company pursuant to which an insurer or insurers agree to issue insurance policies at the request or on behalf of such Regulated Insurance Company and such Regulated Insurance Company assumes the obligations in respect thereof pursuant a Reinsurance Agreement or otherwise. “Fronting Lender” means any Lender (or any Affiliate thereof) which is requested by an Account Party, and which in its sole discretion agrees expressly in writing, to issue Fronted Letters of Credit hereunder pursuant to Section 2.02. “Fronting Participant” has the meaning provided in Section 2.02(b). “GAAP” means generally accepted accounting principles in the United States of America. “Governmental Authority” means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. “Guarantee” of or by any Person (the “guarantor”) means any obligation guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other obligations (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including any obligation of such Person, whether or not contingent, (a) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (b) to advance or supply funds (i) for the purchase or payment of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (c) to

Fronting Arrangement means a situation in which a fronting company issues

Fronting Arrangement means an arrangement through which an insurer cedes more than ninety-five percent of the risk under an insurance contract that it has entered into, to another insurer or reinsurer, while remaining liable under the insurance contract to the insured;

Fronting Arrangement means an agreement among a fronting company, one of its participating groups, one of the group’s participating employers, and, if applicable, the sponsoring reinsurance account, under which:

Fronting Arrangement means an agreement or other arrangement by a Regulated Insurance Company pursuant to which an insurer or insurers agree to issue insurance policies at the request or on behalf of such Regulated Insurance Company and such Regulated Insurance Company assumes the obligations in respect thereof pursuant a Reinsurance Agreement or otherwise. “GAAP” means generally accepted accounting principles in the United States of America. “Governmental Authority” means any nation or government, or state or political subdivision thereof, and any agency, authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). “Guarantee” of or by any Person (the “guarantor”) means any obligation guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other obligations (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including any obligation of such Person, whether or not contingent, (a) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (b) to advance or supply funds (i) for the purchase or payment of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (c) to purchase or lease property,