Insurance Company Subsidiaries definition

Insurance Company Subsidiaries means, collectively: (a) Direct National Insurance Company, an Arkansas insurance company, (b) Direct General Insurance Company, an Indiana insurance company, (c) Direct General Insurance Company of Louisiana, a Louisiana insurance company, (d) Direct General Insurance Company of Mississippi, a Mississippi insurance company, (e) Direct General Life Insurance Company, a South Carolina insurance company and (f) Direct Insurance Company, a Tennessee insurance company.

Insurance Company Subsidiaries means each insurance company affiliated with the Debtors or any of the Surviving Debtor Entities which is not the subject of any rehabilitation or liquidation order of any court of competent jurisdiction.

Insurance Company Subsidiaries has the meaning set forth in Section 4.06(c).

Examples of Insurance Company Subsidiaries in a sentence

• CIC, WPIC, and RCIC are collectively referred to as the "Insurance Company Subsidiaries." On a stand-alone basis, Conifer Holdings, Inc.

• Subject to any and all consents, conditions, or requirements of the State Departments of Insurance, the Liquidating Trustee and Trust Advisory Board may authorize and direct the merger, consolidation, dissolution of or other restructuring transaction with respect to any of the Insurance Company Subsidiaries to the extent deemed necessary and appropriate by the Liquidating Trustee and Trust Advisory Board.

• Neither the Insurance Companies nor any of the Insurance Company Subsidiaries has been required to include in income any adjustment pursuant to Section 481 of the Code by reason of a voluntary change in accounting method initiated by the Insurance Companies or any of the Insurance Company Subsidiaries, and the IRS has not initiated or proposed any such adjustment or change in accounting method, in either case which adjustment or change would have a Material Adverse Effect.

• Since December 31, 1994, except for Consumers Re which files a separate return, the Insurance Company Subsidiaries file a consolidated federal income tax return.

• Through the Liquidating Trust's position as direct or indirect equity owner of each of the Insurance Company Subsidiaries, the Liquidating Trustee shall cause the Insurance Company Subsidiaries to act consistently with the purposes and provisions of the Liquidating Trust and the Liquidating Trust Agreement and, in addition, any and all supervisory orders, protective orders or other requirements of the State Departments of Insurance.

• Section 3.29(c) of the Company Disclosure Schedule sets forth each state in which each of the Insurance Companies and each of the Insurance Company Subsidiaries is an admitted or non-admitted insurer; and for each state in which it is nonadmitted, whether it has been approved or not disapproved.

• As of the date hereof, and except for any downgrading which may occur solely as a result of the Merger or the Related Party Transactions, there has not occurred any downgrading, nor has the Company become aware of any pending or overtly threatened downgrading, of either of the Insurance Company's or any of the Insurance Company Subsidiaries' rating by A.M. Best.

• Except as identified on the Disclosure Schedule, none of the Insurance Company Subsidiaries is the subject of any supervision, conservation, rehabilitation, liquidation, receivership, insolvency or other similar proceeding, nor is any of the Insurance Company Subsidiaries operating under any formal or informal arrangement or understanding with the licensing authority of any jurisdiction which restricts its authority to do business or requires it to take, or to refrain from taking, any action.

• There are no Tax liens upon any property or assets of the Insurance Companies or any of the Insurance Company Subsidiaries except liens for current Taxes not yet due.

• The reserves for policy liabilities of each of the Insurance Company Subsidiaries as set forth on its June 30, 1996 statutory balance sheet have been computed in a manner which is consistent with the methods and principles described above.

More Definitions of Insurance Company Subsidiaries

Insurance Company Subsidiaries means those Subsidiaries of Seller set forth on Schedule 1.01(l) hereto.

Insurance Company Subsidiaries means Houston Casualty Company, a Texas corporation, Avemco Insurance Company, a Maryland corporation, and U.S. Specialty Insurance Company, a Texas corporation.

Insurance Company Subsidiaries means Houston Casualty Company, a Texas corporation, Avemco Insurance Company, a Maryland corporation, U.S. Specialty Insurance Company, a Texas corporation, and, effective upon acquisition of Centris by Borrower, HCC Life Insurance Company (successor to Centris Life Insurance Company), an Indiana corporation, Centris Insurance Company, an Indiana corporation, and USF Insurance Company, a Pennsylvania corporation.

Insurance Company Subsidiaries means Progressive and Pioneer. "Loss" means any and all losses, liabilities, deficiencies, costs, damages, obligations, judgments, suits, claims, disbursements and expenses (including, without limitation, interest, penalties, reasonable attorneys' fees, charges and disbursements). "Material Adverse Effect" means a material adverse effect on the business, operations, assets or financial condition of a Person taken as a whole. "Person" means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization or a governmental entity or any department, agency or political subdivision thereof. "Plan Affiliate" means any Person with whom Universal or a Subsidiary constitutes all or part of a controlled group (as defined) in the Internal Revenue Code of 1986, as amended. "Proprietary Rights" means all patents, patent applications, patent disclosures and inventions (whether or not patentable and whether or not reduced to practice); all trademarks, service marks, trade names and corporate names; all registered and unregistered statutory and common law copyrights; all registrations, applications and renewals for any of the foregoing; all trade secrets, confidential information, ideas, formulae, compositions, know-how, manufacturing and production processes and techniques, research and development information, drawings, specifications, designs, plans, improvements, proposals, technical and computer data, documentation and software, financial, business and marketing plans, and franchisee, customer and supplier lists and related information and all other proprietary rights. "Regulators" shall mean the Superintendent of Insurance of the State of New York (the "New York Superintendent"), the Insurance Commissioner of the State of Florida, the Insurance Commissioner of the State of Indiana, and any

Insurance Company Subsidiaries means American Progressive Life and Health Insurance Company of New York, American Pioneer Life Insurance Company, AmeriFirst Insurance Company and any other insurance company that comes under the control of Universal according to the provisions of the applicable insurance code. "Series C Holders" shall have the meaning given such term in the introduction hereto and shall include any transferee of Subject Shares. "Stock Purchase Agreement" shall mean the agreement, so titled, between Universal and AAM dated January 9, 1997. "Subject Shares" shall mean (i) all of the shares of Series C Preferred Stock issued by Universal pursuant to the Stock Purchase Agreement, (ii) any Common Stock, par value $.01 per share, of Universal ("Common Stock") issued upon conversion thereof, and (iii) any additional securities of Universal issued in respect thereto. "Subsidiary" means any corporation of which the shares of stock having a majority of the general voting power in electing the board of directors are, at the time as of which any determination is being made, owned by Universal either directly or indirectly through Subsidiaries.