Property Business definition

Property Business means the business and assets of the property division of HIL;
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Property Business means any property coverages of the type underwritten by the Company or any of its Affiliates as a reinsurer or retrocessionaire during the Employment Term. Anything to the contrary notwithstanding, it shall not be a violation of this Section 5.2 for the Executive to (i) own or acquire less than 5% of a publicly-traded entity or 1% of a private entity, (ii) serve as a member of the board of directors or on the advisory board of any entity on which the Executive was serving prior to the Termination Date or (iii) provide services to a subsidiary, division or affiliate of a business or entity engaged in the Property Business if (a) such subsidiary, division or affiliate is not itself engaged in the Property Business, and (b) such business’ or entity’s Property Business is not materially competitive with the Property Business of the Company or any of its Affiliates.
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Property Business means any property coverages of the type underwritten by the Company or any of its Affiliates as a reinsurer or retrocessionaire during the Employment Term. Anything to the contrary notwithstanding, it shall not be a violation of this Section 5.2 for the Executive to (i) own or acquire less than 5% of a publicly-traded entity or 1% of a private entity.
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Examples of Property Business in a sentence

  • Property business, such as household insurance, is typically short-term.

  • For our Property business, the actuarial reserving methodology includes changes to catastrophe losses, while the reviews in our vehicle businesses do not include catastrophes.

  • Our Property business writes residential property insurance for single family homes, condominium unit owners, renters, etc.

  • Property business The Group owns a property which comprises a residential and commercial development site with a site area of approximately 3,111.96 square meters (“sq.

  • Property business is therefore classified as short-tailed.Management of riskThe key risks associated with this product are underwriting risk, competitive risk and claims experience risk (including the variable incidence of natural disasters).

  • Property business is therefore classified as ‘short-tail’, contrasted with the ‘long-tail’ classes where the ultimate claim cost takes longer to determine.

  • Our Property business primarily consists of the operations of the ARX organization.

  • In our Property business, claim severity is primarily a function of construction costs and the age of the structure.

  • Scope: Property business with certain named exclusions Retention: Retention is $3.5 million for the first excess layer, $10 million forthe second excess layer, and $20 million for the third excess layer.

  • Property business (domestic and commercial) is exposed to catastrophic risks such as those resulting from storms or floods as well as risks such as subsidence.


More Definitions of Property Business

Property Business means a Schedule A business or an overseas property business;
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Property Business means insurance which is classified in the NAIC form of annual statement as Fire, Allied Lines, Farmowners Multiple Peril (Section I), Homeowners Multiple Peril (Section I), Commercial Multiple Peril (Section I including Section I of Business Owners and the Property section of Contractors Coverall), Inland Marine, and Automobile Physical Damage (including collision, water damage, fleet dealers' REVISED: 10/4/02 No. 2521-0031 and garagekeepers' legal liability) except those lines specifically excluded in the EXCLUSIONS Article.
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Property Business means any of the following:
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Related to Property Business

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Subject Business means the policy or policies that are the subject of the Insurance Business Transfer Plan.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and related real estate activities, including the provision of mortgage financing or title insurance.

  • Alarm business means the business by any individual, partnership, corporation, or other entity of selling, leasing, maintaining, servicing, repairing, altering, replacing, moving or installing any alarm system or causing to be sold, leased, maintained, serviced, repaired, altered, replaced, moved or installed any alarm system in or on any building, structure or facility.

  • Company Business means the business of the Company as presently conducted.

  • Transferred Business has the meaning ascribed to such term in the Separation Agreement.

  • Public business means and includes all matters which relate in any way, directly or indirectly, to the performance of the public body’s functions or the conduct of its business.

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II, hereof.

  • Assets and Properties of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned or leased by such Person, including without limitation cash, cash equivalents, Investment Assets, accounts and notes receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property.

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.

  • food business means any undertaking, whether for profit or not and whether public or private, carrying out any of the activities related to any stage of production, processing and distribution of food;

  • Branch business means any insurance business transacted by a branch captive insurance company in this State.

  • Oil and Gas Business means the business of the exploration for, and exploitation, development, production, processing (but not refining), marketing, storage and transportation of, hydrocarbons, and other related energy and natural resource businesses (including oil and gas services businesses related to the foregoing).

  • Micro Business means a company which either:

  • Parent Business has the meaning set forth in the Separation and Distribution Agreement.

  • Excluded Business has the meaning set forth in Section ‎9.1.1.

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Company Properties shall have the meaning set forth in Section 4.15.1.

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • food business operator means the natural or legal persons responsible for ensuring that the requirements of food law are met within the food business under their control;

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;

  • Hotel Property for any hotel means the Real Property and the Personal Property for such hotel.

  • Retained Business means any business now, previously or hereafter conducted by Seller or any of its Subsidiaries or Affiliates other than the Business.

  • Licensed Business means the activities connected with the conveyance of

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.