Reinsurer's liability definition
Reinsurer's liability with respect to each cession under this Agreement will commence obligatorily and simultaneously with that of the Company, subject to this Agreement's terms. Because Reinsurer does not qualify for full credit with the Company's regulators, Reinsurer will assure that Company is given this full credit by funding its obligations under this Agreement by a trust or escrow arrangement with a bank of Reinsurer's choosing, which must be acceptable to Company's regulators.