Net Liability as used herein is defined as the Company's gross liability remaining after cessions, if any, to other pro rata reinsurers.
Net Liability as used in this Agreement, means the Ceding Company's liability on the annuities reinsured hereunder, excluding any liability resulting from any Guaranteed Living Benefit riders attached to such annuities, less amounts recovered from other reinsurance, including the pre-existing Xxxxx Xxxxxx Coinsurance Treaty. SCHEDULE B QUARTERLY REPORT OF ACTIVITY AND SETTLEMENTS -------------------------------------------- FROM CEDING COMPANY TO REINSURER Accounting Period: ___________ Calendar Year: ___________ Date Report Completed: ___________
Net Liability as used in this Agreement, means the Ceding Company’s liability on the Annuities, less amounts recoverable from other reinsurance.
Examples of Net Liability in a sentence
The Company shall promptly notify the Reinsurer of each claim that may involve any third- party reinsurance that inures to the benefit of this Agreement and of all subsequent developments relating thereto, stating the amount claimed, an estimate of the Company’s Net Liability including Allocated Loss Adjustment Expenses, and shall notify the Reinsurer upon settlement of such claims.
The Reinsurer shall indemnify the Company on a one hundred percent (100%) quota share basis in respect of the Company’s Net Liability that the Company may pay as a result of losses arising under Policies in effect during this Agreement term (“Reinsured Losses”), subject to the terms and conditions contained herein.
More Definitions of Net Liability
Net Liability means the Cedent's net retained liability on all Policies. Certain policy exchanges for substantially similar policies undertaken by the Cedent for the sole purpose of administrative simplicity shall be considered endorsements rather than replacements and the resulting policies shall continue to be covered by this Agreement.
Net Liability means the liability assessed by an actuary at a valuation made by him and approved by the Commissioner;
Net Liability as used in this Agreement shall mean the remaining portion of the Company's gross liability on each Policy reinsured under this Agreement after deduction of all reinsurance which inures to the benefit of this Agreement.
Net Liability means the liability for Losses and Loss Adjustment Expenses which the Company retains net for its own account and unreinsured in any way, except for excess of loss reinsurance, after recoveries from inuring reinsurance.
Net Liability means the loss and loss adjustment expense liability remaining after the application of Existing Reinsurance and, with respect to CPIC, Pool Reinsurance, in each case to the extent collectible; provided, however, that “Net Liability” shall not include liability with respect to losses and loss adjustment expenses incurred prior to the Effective Date.
Net Liability will mean the Ceding Company's liabilities on the Annuities. During the term of this Agreement, the Ceding Company and its affiliates will retain not less than 50 percent of the liability on the Annuities.
Net Liability will mean the Ceding Company's liabilities on the Annuities. During the term of this Agreement, the Ceding Company and its affiliates, will retain not less than 50 percent of the liability on the Annuities. SCHEDULE B QUARTERLY REPORT OF ACTIVITY AND SETTLEMENTS FROM CEDING COMPANY TO REINSURER Accounting Period: _________________ Calendar Year: ____________________ Date Report Completed: _____________