Net Underwriting Loss definition

Net Underwriting Loss means the total sum incurred by the Reinsured for all losses or liability in respect of the Business covered hereunder, including paid claims plus outstanding claims plus incurred but not reported claims as determined by the Reinsured’s Actuary. Calculation of the Net Underwriting Loss hereunder, shall include all costs and adjustment expenses arising from the handling of claims, other than the salaries of employees and the office expenses of the Reinsured. For purposes of the Net Underwriting Loss calculation, prior to any calendar year end, the Reinsured will estimate the Net Underwriting Loss as [*].
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Examples of Net Underwriting Loss in a sentence

  • The Reinsurer hereby agrees to pay the Reinsured 100% of the annual Net Underwriting Loss incurred on the subject portfolio underwritten by the Reinsured as business under the FAA (“Business”), in excess of the Net Premium Retained by the Reinsured.

  • In the event of a Net Underwriting Loss for the State Auto Pooled Business, then the Reinsurer shall be obligated to pay to the Company an amount equal to 27% of the Net Underwriting Loss.

  • In the event the Incurred Loss Ratio (as defined below) of the State Auto Pooled Business in the calendar quarter during the term of this Agreement for which the computation is being made exceeds 70.75%, after the application of the State Auto Pooling Agreement and any other applicable reinsurance, that amount in excess of 70.75% multiplied by Earned Premium shall be deemed a Net Underwriting Loss for the State Auto Pooled Business, for such calendar quarter.

Related to Net Underwriting Loss

  • Underwriting Fee has the meaning given to it in the eighth paragraph of this Agreement;

  • Net Investment Loss With respect to the Certificate Account, the Servicing Accounts or the REO Account or Companion Distribution Account for any period from any Distribution Date to the immediately succeeding P&I Advance Date, the amount by which the aggregate of all losses, if any, incurred during such period in connection with the investment of funds relating to the Trust Fund held in such account in accordance with Section 3.06, exceeds the aggregate of all interest and other income realized during such period on such funds.

  • Operating Loss means a negative Operating Profit.

  • Underwritten Net Cash Flow means, as of any date of determination, the excess of: (i) for the twelve (12) month period ending on such date, the sum of (A) the lesser of (1) GPR multiplied by 94.0%, and (2) Actual Rent Collections, and (B) Other Receipts; over (ii) for the twelve (12) month period ending on such date, the sum of (A) Operating Expenses, adjusted to reflect exclusion of amounts representing non-recurring expenses, (B) Underwritten Capital Expenditures and (C)

  • Funding Loss means the amount (which shall be payable on demand by Lender) necessary to promptly compensate Lender for, and hold it harmless from, any loss, cost or expense incurred by Lender as a result of:

  • ERISA-Qualifying Underwriting A best efforts or firm commitment underwriting or private placement that meets the requirements of an Underwriter’s Exemption.

  • Underwriting Defect With respect to any Payment Date and any Reference Obligation for which Xxxxxxx Mac has determined the existence of an Unconfirmed Underwriting Defect, the occurrence of any of the following: (i) such Reference Obligation is repurchased by the related seller or servicer during the related Reporting Period, (ii) in lieu of repurchase, an alternative remedy (such as indemnification) is mutually agreed upon by both Xxxxxxx Mac and the related seller or servicer during the related Reporting Period, (iii) Xxxxxxx Mac in its sole discretion elects to waive the enforcement of a remedy against the seller or servicer in respect of such Unconfirmed Underwriting Defect during the related Reporting Period or (iv) the party responsible for the representations and warranties and/or servicing obligations or liabilities with respect to the Reference Obligation becomes subject to a bankruptcy, an insolvency proceeding or a receivership.

  • Restructuring Loss means the loss on a modified or restructured loan measured by the difference between (a) the principal, Accrued Interest, tax and insurance advances, third party or other fees due on a loan prior to the modification or restructuring, and

  • Net Loss Proceeds means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Event of Loss, including, without limitation, insurance proceeds, condemnation awards or damages awarded by any judgment, net of:

  • Underwriting Agreement means the Underwriting Agreement, dated ______ __, 19__, among the Trust, the Depositor and the underwriters named therein.

  • Marketed Underwritten Shelf Take-Down has the meaning set forth in Section 2.02(e).

  • Ultimate Net Loss as used herein is defined as the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as hereinafter defined) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • Underwritten Shelf Take-Down has the meaning set forth in Section 2.4(b).

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Underwritten Shelf Take-Down Notice has the meaning set forth in Section 2.02(e).

  • Credit Underwriter means the independent contractor under contract with the Corporation having the responsibility for providing Credit Underwriting services.

  • Underwritten Shelf Takedown shall have the meaning given in subsection 2.3.3.

  • Net Investment means (i) as it relates to the Stockholders, the total amount of Gross Proceeds raised in all Offerings; and (ii) as it relates to the Limited Partners (other than the General Partner in its capacity as a Limited Partner) the total amount of Capital Contributions.

  • Underwritten Takedown has the meaning set forth in Section 2(d)(ii).

  • Portfolio Loss means the loss realized on either (i) a portfolio sale of Single Family Shared-Loss Loans in accordance with the terms of Article IV or (ii) the sale of a loan with the consent of the Receiver as provided in Section 2.7.

  • Underwriting Policy means an underwriting policy approved by Our board of directors;

  • Funding Losses has the meaning set forth in Section 2.13(b)(ii).

  • Net operating loss means a loss incurred by a person in the operation of a trade or business. "Net operating loss" does not include unutilized losses resulting from basis limitations, at-risk limitations, or passive activity loss limitations.

  • Adjusted gross proceeds means gross proceeds less cash prizes, cost of

  • Affected Gain has the meaning set forth in subparagraph 4(b) of Exhibit B.

  • Consolidated Net Loss for any fiscal period, means the amount which, in conformity with GAAP, would be set forth opposite the caption "net income" (or any like caption), as the case may be, on a consolidated statement of earnings of the Borrower and its Subsidiaries, if any, for such fiscal period.