Policyholder Claims definition

Policyholder Claims means claims of policyholders or beneficiaries under contracts of insurance in a winding-up, liquidation or administration of an insurance undertaking within the Group to the extent that those claims relate to any debt to which the insurance undertaking is, or may become, liable to a policyholder or such a beneficiary pursuant to a contract of insurance, including all amounts to which policyholders or such beneficiaries are entitled under applicable legislation or rules relating to the winding-up or administration of insurance companies to reflect any right to receive, or expectation of receiving, benefits which such policyholders or such beneficiaries may have;
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Policyholder Claims means claims of policyholders in a liquidation of a Group Insurance Undertaking to the extent that those claims relate to any debt to which the Group Insurance Undertaking is, or may become, liable to a policyholder pursuant to a contract of insurance.
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Policyholder Claims means claims of policyholders or policy beneficiaries in a winding-up, liquidation or administration of a Supervised Group Company to the extent that those claims relate to any debt to which the Supervised Group Company is, or may become, liable to a policyholder pursuant to a contract of insurance, including all amounts to which policyholders are entitled under applicable legislation or rules relating to the winding-up or administration of insurance companies to reflect any right to receive, or expectation of receiving, benefits which such policyholders may have.
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Examples of Policyholder Claims in a sentence

  • Class 2: Policyholder Claims – All claims covered or payable under the terms of an insurance policy issued by CastlePoint.

  • All Policyholder Claims paid by TPA from funds collected on behalf of or for any Customer shall be paid only on drafts or checks of and as authorized by the relevant Customer from the relevant Claims Account.

  • These lawsuits include the following: Policyholder Claims ¡ Various putative class actions purportedly brought on behalf of policyholders were consolidated into two actions in the U.S. District Court for the District of New Jersey (one on behalf of a purported class of “commercial” policyholders and the second on behalf of a purported class of “employee benefit” policyholders).

  • This account shall be used for all Policy related disbursements provided for under the applicable Policies including but not limited to Policyholder Claims, Policy surrenders, annuity payments, other Policyholder benefits, and agent commissions relating to the Policies of such Customer.

  • Each Customer shall establish, maintain and fund a claims paying account (each, a "Claims Account") for the purpose of TPA's paying Policyholder Claims on behalf of such Customer.

  • These lawsuits include the following: Policyholder Claims • Various putative class actions purportedly brought on behalf of policyholders have been consolidated into two actions in the federal court in New Jersey (one on behalf of a purported class of “commercial” policyholders and the second on behalf of a purported class of “employee benefit” policyholders).

  • The Liquidator will proceed with the Purchase Agreement if the Liquidator receives bona fide offers for the purchase of the assets of the Company that would in his sole judgment result in a recovery for Policyholder Claims that would exceed the recovery for such Claims if the Receivership Case were to continue to conclusion.

  • Upon the Allowance or Disallowance of all Policyholder Claims and the disposition of all rights under Reinsurance Agreements of Opt-Out Reinsurers, the Liquidator may seek the termination of the Receivership Case and, in the Liquidator’s discretion, the winding up of the Opt-Out Reinsurance Pool.

  • The status of these lawsuits is as follows: Policyholder Claims ¡ In February 2009, the trial court approved a settlement of the claims against MMC, Marsh and certain Marsh subsidiaries in two consolidated putative class actions that were pending in the U.S. District Court for the District of New Jersey (one on behalf of a purported class of “commercial” policyholders and the second on behalf of a purported class of “employee benefit” policyholders).

  • The Purchaser will not engage directly or indirectly in any type of business other than the management and disposition of the Transferred Assets and the adjustment and payment of the Policyholder Claims.


More Definitions of Policyholder Claims

Policyholder Claims means claims of policyholders in a liquidation of a Group Insurance Undertaking to the extent that those claims relate to any debt to which the Group Insurance Undertaking is , or may become, liable to a policyholder pursuant to a contract of insurance.
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Policyholder Claims means claims of policyholders in a liquidation of a Group Insurance Undertaking to the extent that those claims relate to any debt to which the Group Insurance Undertaking is, or may become, liable to a policyholder pursuant to a contract of insurance. Prevailing Principal Amount means the Initial Principal Amount as reduced from time to time by any Write-Down. Prior Approval of the Relevant Supervisory Authority means in respect of any proposed act on the part of the Issuer, the prior written approval or consent of, or notification to the Relevant Supervisory Authority, if such approval, notification or consent is required at the time under any Applicable Regulations or an official application or interpretation thereof. Qualifying Tier 1 Notes means securities issued directly or indirectly by the Issuer that:
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Policyholder Claims means claims, refunds and other amounts due to Policyholders and other Persons under the Policies.
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Policyholder Claims means claims of policyholders in a liquidation of a Group Insurance Undertaking to the extent that those claims relate to any debt to which the Group Insurance Undertaking is, or may become, liable to a policyholder pursuant to a contract of insurance. Qualifying Securities means securities issued by the Issuer or the Parent Guarantor (if the substitution/variation occurs subsequent to an Issuer Substitution Event) that have terms that are not materially less favorable to an investor than the terms of the Subordinated Notes (as reasonably determined by the Issuer or the Parent Guarantor (as the case may be) in consultation with an independent investment bank, consulting firm or comparable expert of international standing on the subject and provided that a certification to such effect of a duly authorized person of the Issuer or the Parent Guarantor (as the case may be), shall have been delivered to the Trustee prior to the issuance of the relevant securities or them otherwise becoming the Issuer’s obligations), provided that such securities (1) contain terms such that they comply with the then current requirements of the Supervisory Authority in relation to tier 2 basic own funds, (2) include terms that provide for at least the same interest rate from time to time applying to the Subordinated Notes, and (3) rank at least pari passu with the Subordinated Notes. Rating Methodology Event shall be deemed to occur upon a change in the methodology of a Rating Agency (or in the interpretation of such methodology) as a result of which the equity content previously assigned by such Rating Agency to the Subordinated Notes is, in the Issuer’s reasonable opinion, materially reduced when compared to the equity content assigned by such Rating Agency at the issuance date of the Subordinated Notes.
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Policyholder Claims means claims of policyholders or beneficiaries under policies of insurance (including policies issued by the Issuer (if any)) in a winding-up, liquidation or administration of the Regulatory Group to the extent that those claims relate to any amounts to which the Regulatory Group is, or may become, liable to a policyholder pursuant to a contract of insurance, including all amounts to which policyholders are entitled under applicable legislation or rules relating to the winding-up or administration of insurance companies to reflect any right to receive, or expectation of receiving, benefits which such policyholders may have. No Encumbrances By purchasing the Subordinated Notes, each holder of such Subordinated Notes is also deemed to agree and acknowledge that no security of any kind is, or will at any time be, provided by the Issuer or any of its respective affiliates to secure the rights of holders of the Subordinated Notes. Deferral of Interest Payments; Arrears of Interest Optional Deferral of Interest Payments So long as no Mandatory Deferral Event has occurred and is continuing and the relevant Interest Payment Date is not a Compulsory Interest Payment Date, the Issuer may defer interest payments on the Subordinated Notes, from time to time, for one or more periods (each, an “Optional Deferral Period”). Any such accrued interest,the payment of which is so deferred, so long as such interest remains unpaid, will constitute Arrears of Interest and will be subject to the provisions described below under “— Arrears of Interest.” Prior to an Optional Deferral Period, the Issuer will be required to provide to the Indenture Trustee an officer’s certificate identifying the beginning of the Optional Deferral Period and shall notify the holders of the Subordinated Notes at least five Business Days before the first Interest Payment Date during the Optional Deferral Period. The Issuer may pay at any time all or any portion of the interest accrued to that point during an Optional Deferral Period and upon payment by the Issuer in full of all interest accrued during an Optional Deferral Period, the Optional Deferral Period shall be deemed to terminate. Any Optional Deferral Period shall also be deemed terminated on any Interest Payment Date that is a Compulsory Interest Payment Date.
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Policyholder Claims means claims of policyholders or beneficiaries under policies of insurance (including policies issued by the Issuer (if any)) in a winding-up, liquidation or administration of the Regulatory Group to the extent that those claims relate to any amounts to which the Regulatory Group is, or may become, liable to a policyholder pursuant to a contract of insurance, including all amounts to which policyholders are entitled under applicable legislation or rules relating to the winding-up or administration of insurance companies to reflect any right to receive, or expectation of receiving, benefits which such policyholders may have. No Encumbrances By purchasing the Subordinated Notes, each holder of such Subordinated Notes is also deemed to agree and acknowledge that no security of any kind is, or will at any time be, provided by the Issuer or any of its respective affiliates to secure the rights of holders of the Subordinated Notes. Deferral of Interest Payments; Arrears of Interest Optional Deferral of Interest Payments So long as no Mandatory Deferral Event has occurred and is continuing and the relevant Interest Payment Date is not a Compulsory Interest Payment Date, the Issuer may defer interest payments on the Subordinated Notes, from time to time, for one or more periods (each, an “Optional Deferral Period”). Any such accrued interest,the payment of which is so deferred, so long as such interest remains unpaid, will constitute Arrears of Interest and will be subject to the provisions described below under “— Arrears of Interest.” Prior to an Optional Deferral Period, the Issuer will be required to provide to the Indenture Trustee an officer’s certificate identifying the beginning of the Optional Deferral Period and shall notify the holders of the Subordinated Notes at least five Business Days before the first Interest Payment Date during the Optional Deferral Period. The Issuer may pay at any time all or any portion of the interest accrued to that point during an Optional Deferral Period and upon payment by the Issuer in full of all interest accrued during an Optional Deferral Period, the Optional Deferral Period shall be deemed to terminate. Any Optional Deferral Period shall also be deemed terminated on any Interest Payment Date that is a Compulsory Interest Payment Date.
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Related to Policyholder Claims

  • Insurance Policies has the meaning set forth in Section 3.16.

  • General Unsecured Claims means any unsecured claim (other than an Administrative Claim, a Priority Tax Claim, an Other Priority Claim, a Prepetition Term Loan Claim, or an Intercompany Claim) against one or more of the Debtors including (a) Claims arising from the rejection of Unexpired Leases and Executory Contracts to which a Debtor is a party, and (b) Claims arising from any litigation or other court, administrative or regulatory proceeding, including damages or judgments entered against, or settlement amounts owing by a Debtor related thereto.

  • Intercompany Claims means, collectively, any Claim held by a Debtor against another Debtor.

  • Policy Grievance shall be signed by a xxxxxxx or a Union representative or, in the case of an Employer's policy grievance, by the Employer or its representative.

  • Secured Claims means Claims held by “secured creditors” as defined in the CCAA, including Construction Lien Claims, to the extent of the Allocated Value of the Property securing such Claim, with the balance of the Claim being a Deficiency Claim, and amounts subject to section 6(6) of the CCAA;

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Subordinated Claims means the aggregate amount of all claims admitted in the winding up or dissolution of the Issuer which rank, or are expressed to rank, junior to claims in respect of the Senior Non-Preferred Notes or other Senior Non-Preferred Claims, including (without limitation) claims of creditors in respect of the Subordinated Notes, and the obligations of the Issuer which constitute, or would but for any applicable limitation on the amount of such capital constitute, Tier 2 Capital, Additional Tier 1 Capital (including, without limitation, the Issuer’s permanent interest bearing shares (if any)) or CET1 Capital (including the Issuer’s core capital deferred shares (if any)); and