Net Retained Liabilities Policies definition
Examples of Net Retained Liabilities Policies in a sentence
Notwithstanding the foregoing, pursuant to the Administrative Services Agreement, the Reinsurer and the Company will establish accounts separate from the Bank Accounts for the administration of the Net Retained Liabilities Policies.
Without limiting the foregoing, the Administrator shall (a) timely pay all reinsurance premiums due to the reinsurers under the Ceded Reinsurance Contracts with respect to the Reinsured Contracts; provided, however, that the Administrator’s payment of reinsurance premiums due to reinsurers with respect to the Net Retained Liabilities Policies or the Conversion Policies shall be reimbursed by the Company pursuant to Section 3.8, and (b) have the right to collect all reinsurance recoverables due thereunder.
Prior to obtaining any such required consents or waivers or reaching such agreement, the Covered Insurance Policy from which Net Retained Liabilities arise (in each case, a “Net Retained Liabilities Policy”) shall not be reinsured hereunder, but the Reinsurer shall provide administrative services with respect to any Net Retained Liabilities Policies pursuant to the Administrative Services Agreement in the manner set forth therein.
From the Closing and thereafter during the term of this Agreement, the Administrator, on behalf of the Company, shall assume responsibility for billing and collecting all Additional Reinsurance Consideration and any premium and other consideration due under the Net Retained Liabilities Policies or Conversion Policies.