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.
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Related to Reinsurer's liability

  • Reinsurers shall be understood to mean “Reinsurers”, “Underwriters” or whatever other term is used in the attached reinsurance document to designate the reinsurer or reinsurers.

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • 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.

  • Reinsured Policies has the meaning assigned to it in the Reinsurance Agreement.