New Insurance Policies definition

New Insurance Policies means the binders, endorsements, riders, policies, certificates, annuity contracts, contracts of insurance, and supplementary contracts of insurance (including settlement options) issued, renewed, or assumed pursuant to the terms of such Policies or as required by Applicable Law or by the Reinsurer on behalf of the Ceding Company following the Effective Time in accordance with the Administrative Services Agreement.

New Insurance Policies has the meaning set forth in the Reinsurance Agreement.

New Insurance Policies means Policies of the type issued by the Ceding Company in connection with the FSS Business that are quoted to potential customers prior to the Closing but are not issued until after the Closing.

Examples of New Insurance Policies in a sentence

• Subject to the Reinsurance Agreement and in accordance with the terms thereof, all New Insurance Policies shall be automatically ceded (effectively immediately upon issuance thereof) by the Ceding Company to the Administrator (in its capacity as “Reinsurer” under the Reinsurance Agreement, and reinsured by the Administrator (in its capacity as “Reinsurer” under the Reinsurance Agreement) in accordance with the terms of the Reinsurance Agreement.

• The amount of any Tax detriment shall be calculated without regard to Tax items or attributes of the Ceding Company unrelated to the New Insurance Policies, including any “net negative consideration” under Code Section 848 unrelated to the New Insurance Policies.

• It is intended that the Ceding Company generally should not bear an economic cost relating to the federal income Tax treatment of the net consideration determined under Code Section 848 with regard to the New Insurance Policies.

• The Parties shall cooperate in good faith to determine a reimbursement methodology that minimizes administrative costs for both Parties and the need for ongoing calculations with respect to relevant Premiums on the New Insurance Policies.

• Except as waived by the Buyer, such New Insurance Policies must provide for coverages, benefits, exclusions, deductibles, co-payments, premium levels, employer costs, and other terms and conditions that are substantially the same as to those presently available to the Company, (the "Current Benefit Levels") and its employees (and their respective dependents, spouses, domestic partners, and beneficiaries) under the Seller-Sponsored Plans.

More Definitions of New Insurance Policies

New Insurance Policies means the individual life insurance policies (including binders, endorsement, riders and supplementary contracts of individual life insurance) issued, renewed, reinsured or assumed by the Ceding Company following the Closing Date in accordance with the Administrative Services Agreement or the Wholesaling Agreement. New Insurance Policies shall exclude any Group Conversion Policies that are not reinsured under the Group Conversion Retrocession Agreement.

New Insurance Policies has the meaning given such term in the applicable Administrative Services Agreement.

New Insurance Policies means any and all binders, endorsements, riders, policies, certificates and contracts of individual life insurance, and supplementary contracts of individual life insurance (including retained asset accounts and all other settlement options) issued, renewed, reinsured or assumed by HLIC following the Closing Date in accordance with Article III of this Agreement. [REDACTED]

New Insurance Policies means the insurance policies with a reputable insurer to cover product liability and professional indemnity liability in accordance with the provisions set forth in clause 11.

New Insurance Policies shall have the meaning set forth in Section 14(a)(i).

New Insurance Policies means the Policies issued after the Closing and prior to the New Business Termination Date in accordance with the Administrative Services Agreement, including all supplements, endorsements, riders, schedules and cover notes thereto, all amendments and extensions thereof and all ancillary or supplemental agreements entered into in connection therewith, in each case, that become effective prior to the New Business Termination Date in accordance with the Administrative Services Agreement.

New Insurance Policies as defined in Section 4.12(b).