Net Retained Liability definition

Net Retained Liability means that portion of any Policy which the Corporation retains net for its own account, however gross of recoveries from the underlying First Whole Account Aggregate Excess of Loss Retrocession Agreement (E1), and in calculating the amount of Ultimate Net Loss hereunder, only loss in respect of that portion of any Policy which the Corporation retains net for its own account shall be included. The amount of the Retrocessionaire's liability under this Agreement shall not be increased by reason of the inability of the Corporation to collect from any other Retrocessionaire(s), whether specific or general, any amounts which may have become due from such Retrocessionaire(s), whether such inability arises from the insolvency of such other Retrocessionaire(s) or otherwise.
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Net Retained Liability means the total liability retained by a title insurer for a single
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Net Retained Liability means the remaining portion of the Company's gross liability on each policy reinsured under this Agreement after deduction of all Facultative Reinsurance which insures to the Company's sole benefit.
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Examples of Net Retained Liability in a sentence

  • Except as otherwise contemplated by this Section 2.4, the Company shall bear the cost of obtaining any waivers or consents to reinsure a Net Retained Liability.

  • Therefore, Net Retained Liability would be increased in respect of pro rata Loss Adjustment Expenses.

  • The Ceding Company must obtain special acceptance from Reinsurers prior to exceeding the above maximum Net Retained Liability.

  • The Ceding Company warrants that the maximum Net Retained Liability is as follows: POLICIES CLASSIFIED AS: MAXIMUM NET RETAINED LIABILITY Property insurance: Medical Office Policy $ 2,000,000 any one policy Other Property Coverage $ 500,000 each and every loss All Other Policies $ 10,000,000 each and every loss 7 8 The above figures pertain to indemnity only.

  • ARTICLE III ----------- RETENTION AND RETROCESSION -------------------------- The Corporation shall retain for its own account as its own net retention, subject to the First Whole Account Aggregate Excess of Loss Retrocession Agreement (E1), all Ultimate Net Loss in the aggregate incurred during the term of this Agreement in respect of its Net Retained Liability up to and including an amount equal to XX% of Subject Gross Net Earned Premium Income (hereinafter "SGNEPI").


More Definitions of Net Retained Liability

Net Retained Liability means the total liability retained by a title insurer for a single risk, after taking into account the deduction for ceded liability, if any;
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Net Retained Liability means the Company's gross liability for Loss and Loss Adjustment Expense under the Policies, after application of any reinsurance which inures to the benefit of this Contract.
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Net Retained Liability means the total liability retained by a title insurer for a single risk, after taking into account any ceded liability and collateral, acceptable to the commissioner, maintained by the insurer.
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Net Retained Liability means Loss and Loss Adjustment Expense retained by the Company after deduction of specific excess reinsurance and salvage and subrogation recoveries, provided that the Company's Net Retained Liability shall for the purposes of this Agreement be deemed not to exceed the amount displayed in Article VI-A (1) each and every Occurrence.
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Net Retained Liability means the total liability retained by a title insurer for a single risk after the ceding of reinsurance.
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Net Retained Liability means the remaining portion of the Company's gross insurance liability on each Covered Contract reinsured under this Agreement after making deductions for all salvage, subrogation, reinsurance collected and any other applicable funds held, trust funds, letters of credit or other applicable security as and when deductions are converted to cash by the Company. Net Retained Liability shall include, without limitation, any liability for ALAE, Extra Contractual Obligations and Losses in Excess of Policy Limits in respect of Covered Contracts for which the Company is or shall become liable.
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Net Retained Liability as used in this Agreement shall mean the liability of the Company which the Company retains net for its own account. The Company may carry 30% underlying quota share reinsurance, recoveries under which shall be disregarded when determining the Net Retained Liability hereunder. Reinsurance among or between the individual named Companies shall be disregarded when determining the Net Retained Liability of the Company. The amount of the Reinsurer's liability hereunder in respect of any loss or losses shall not be increased by reason of the inability of the Company to collect from any other reinsurers, whether specific or general, any amounts which may have become due from them, whether such inability arises from the insolvency of such other reinsurers or otherwise.
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