Retrospective Premiums definition

Retrospective Premiums means any amounts due from a policyholder or insured under a Reinsured Contract as a result of any increase in premiums charged thereunder or additional premium payable thereunder based upon the claims or loss experience pursuant to the terms and conditions of such Reinsured Contract.
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Retrospective Premiums means any amounts due from a policyholder or insured under a Reinsured Contract as a result of any increase in premiums charged thereunder or additional premium payable thereunder based upon the claims or loss experience pursuant to the terms and conditions of such Reinsured Contract. “Rules” has the meaning set forth in Section 11.1(a). “SAP” means, as to any Person, the statutory accounting principles prescribed or permitted by the Governmental Authority responsible for the regulation of insurance companies in the jurisdiction in which such entity is domiciled. “Security Amount” shall have the meaning set forth in the Collateral Trust Agreement. “Subsidiary” or “Subsidiaries” means, when used with respect to any Party, any corporation, limited liability company, partnership, association, trust or other entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power (or, in the case of a partnership, more than 50% of the general partnership interests) are, as of such date, owned by such Party or one or more Subsidiaries of such Party or by such Party and one or more Subsidiaries of such Party. “Tax Authority” means, with respect to any Tax, any government or political subdivision thereof that imposes such Tax, and any agency charged with the collection, assessment, determination or administration of such Tax for such government or subdivision. 10
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Retrospective Premiums means (a) any amounts, including interest thereon, due to or from a counterparty, policyholder or insured under a Reinsured Contract as a result of a Retrospective Premium Adjustment, less (b) any reasonable out-of-pocket expenses incurred by the Reinsured in connection with the provision of the Retrospective Premium Adjustment Services, and less (c) any liability with respect to any premium tax or similar tax or any guaranty fund assessment arising from such Retrospective Premium. For the avoidance of doubt, Retrospective Premiums may be negative, including as a result of (x) the amounts specified in subsection (b) and/or (c) above exceeding the amounts specified in subsection (a) above, (y) the inability of the Reinsured to collect the amounts specified in subsection (a) above or (z) favorable loss experience pursuant to the terms of the Reinsured Contract.
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Examples of Retrospective Premiums in a sentence

  • Certificate means a Certificate of Insur- ance, including Declarations and Bond for Payment of Retrospective Premiums, issued to be a part of this Master Policy.

  • Buyer shall provide Terex and the Sellers with such information and records, and use such commercially reasonable efforts, as may be necessary or desirable to assist Terex in researching, substantiating and defending any claim for payment of Retrospective Premiums by Terex or any Seller.

  • To the extent that the Reinsured does not use commercially reasonable efforts to collect such Post-Inception Date Retrospective Premiums, the Reinsurer shall have the right to assume the management and control of the collection efforts of such Post-Inception Date Retrospective Premiums attributable to A&P Claims.

  • A Member's or former Member’s share of such additional premium shall be determined on the same basis as that provided for Retrospective Premiums in Article 16 of this Agreement.

  • All payable or receivable Pre-Inception Date Retrospective Premiums shall be the obligation of, or for the benefit and account of, the Reinsured.

  • The Reinsured shall use substantially the same level of diligence and care in collecting Post-Inception Date Retrospective Premiums that are attributable to A&P Claims as the Reinsured exercises in collecting similar retrospective premiums in connection with its other insurance and reinsurance businesses.

  • The Reinsurer shall, if reasonably requested by the Reinsured, cooperate with the Reinsured at the Reinsured’s expense in the collection of Pre-Inception Date Retrospective Premiums.

  • In no event shall Reinsured make any outgoing payment or return of Post-Inception Date Retrospective Premiums attributable to A&P Claims without first consulting with the Reinsurer.

  • CCC is hereby authorized to pay, collect and/or remit, as applicable, on behalf the Reinsured, any Retrospective Premiums allocable under this RP Allocation Agreement to be paid or received, as applicable, by the Reinsured.

  • CCC shall prepare and deliver to Reinsurer a quarterly settlement report calculating the amount of Retrospective Premiums to be allocated among the Parties pursuant to Section 2.2 within twenty (20) calendar days of the end of each calendar quarter.

Related to Retrospective Premiums

  • Premiums means premiums, considerations, deposits and similar receipts with respect to the Policies or Post-Closing Policies.

  • Insurance Premiums shall have the meaning set forth in Section 6.1(b) hereof.

  • Insurance Premium means the amount that each Debtor shall pay on a monthly basis to Agos pursuant to the relevant Consumer Loan Agreement, in relation to the insurance premium paid by Agos to the relevant Insurance Company under any Financed Insurance Policy.

  • Premium surcharge means a payment required from a subscriber, in addition to the subscriber's medical premium contribution, due to an enrollee's tobacco use or an enrolled subscriber's spouse or state registered domestic partner choosing not to enroll in their employer- based group medical when:

  • Special Primary Insurance Premium With respect to any Special Primary Insurance Policy, the monthly premium payable thereunder. Statutory Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del.C. §3801 et seq., as the same may be amended from time to time.