Jumbo Risk definition

Jumbo Risk for the purpose of this Agreement is defined as one where the papers of the Ceding Company indicate that the proposed insured's total life insurance inforce and applied for in all companies exceeds the amounts shown in Exhibit A.
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Jumbo Risk. For the purpose of this Agreement, a jumbo risk is one with respect to which commonly accepted underwriting evidence of insurability indicates that the proposed insured's total life insurance in force and applied for from all insurers exceeds the amounts outlined on SCHEDULE B.
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Jumbo Risk means a business entity that generates gross revenues exceeding one hundred million dollars annually and that develops an annual liability premium for the policy of at least five hundred thousand dollars, but shall not include any public entity or not-for-profit corporation.
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Examples of Jumbo Risk in a sentence

  • It is mutually agreed that effective the 1st day of October, 1994, EXHIBIT D, Corporate Retention Limits of the Ceding Company, EXHIBIT E, Jumbo Risk, and EXHIBIT G, Automatic Binding Limits to the Pool, are revised as attached.

  • The risk is categorized as a Jumbo Risk and does not meet the requirements in Part III, Section D of this Exhibit.

  • It is mutually agreed that effective the 1st day of May, 1991, Exhibit E, Jumbo Risk, is revised as attached; SCHEDULE I, Automatic Binding Limits to the Reinsurance Pool; and Paragraph 6, Automatic Binding Limits, of Memorandum Addenda III and V are revised as attached.

  • For the purposes of this Agreement, the Jumbo Risk is defined as a policy for which our underwriting papers indicate that the total life insurance inforce and the ultimate face amount applied for on the insured's life exceeds $________.

  • The risk is categorized as a "Jumbo Risk", where your underwriting papers indicate that the total life insurance in force and applied for on the insured's life exceeds $50,000,000.

  • The risk is categorized as a "Jumbo Risk", where your underwriting papers indicate that the total life insurance in force and applied for on the insured's life exceeds $25,000,000.


More Definitions of Jumbo Risk

Jumbo Risk is defined as a policy for which our underwriting papers indicate that the total life insurance inforce and applied for on the insured's life exceeds $______________. Jumbo limits for joint life second-to-die or joint life first-to-die plans will be determined for each life individually, considering the total amount in force and applied for on each life. If the total amount of insurance in force and applied for on either life exceeds $___________, the current application will be considered a jumbo risk.
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