Specialty Program Business definition

Specialty Program Business as used herein shall mean all Program Business other than Traditional Program Business or Traditional Program Business that Tower and CPIC agree shall be deemed Specialty Program Business. “Program Business” used herein means narrowly defined classes of business that are underwritten on an individual policy basis by Program Underwriting Agents on behalf of insurance companies. Traditional Program Business shall mean blocks of Program Business in excess of $5 million in gross written premium that Tower has historically underwritten, consisting of non-auto related personal lines and the following commercial lines of business: retail stores and wholesale trades, commercial and residential real estate, restaurants, grocery stores, office and service industries, and artisan contractors. “Program Underwriting Agent” shall mean an insurance intermediary that aggregates business from retail and general agents and manages business on behalf of insurance companies, including functions such as risk selection and underwriting, premium collection, policy form design and client service.
Sample 1Sample 2Sample 3
Specialty Program Business means (i) Program Business other than Traditional Program Business and (ii) Traditional Program Business that Company elects not to manage but that CastlePoint Management Corp. elects to manages.
Sample 1Sample 2Sample 3
Specialty Program Business means (i) Program Business other than Traditional Program Business and (ii) Traditional Program Business that Tower elects not to manage and that CPH elects to manage.
Sample 1Sample 2

Examples of Specialty Program Business in a sentence

  • The files and records of each Participating Company with respect to this Pooling Agreement and the Specialty Program Business subject hereto shall be open to examination by any officer or director of each of the other Participating Companies or their duly authorized representatives during normal business hours.

  • The ceding commission may be adjusted every six (6) months on each six (6) month anniversary of the Effective Date based on the Net Loss Ratio of the Specialty Program Business and Insurance Risk Sharing Business ceded hereunder from the Effective Date.

  • CPIC, as pool manager, shall negotiate, obtain and maintain such Pool Reinsurance as it deems appropriate with respect to the liabilities of the Specialty Program Business Pool, which reinsurance shall inure to the benefit of the Participating Companies according to their respective Pooling Percentages.

  • The Participating Companies acknowledge that, following the acceptance or retention of a percentage of the Specialty Program Business Pool by a Participating Company, such pooled business shall be subject to such reinsurance as may be entered into by such Participating Company on or after the Effective Date that is for the benefit of such Participating Company as to its participation in the Specialty Program Business Pool and does not inure to the benefit of the Specialty Program Business Pool.

  • This Agreement applies to all in-force, new and renewal Policies, except as hereinafter excluded, written and classified by the Company as Fire and Allied Perils, Commercial Multiple Peril, Homeowners Multiple Peril and Liability, Workers’ Compensation, Inland Marine and Automobile Liability and Physical Damage and Umbrella, with an inception date effective during the term of this Agreement and which are classified by the Company as Specialty Program Business and Insurance Risk Sharing Business.

  • However, in the event that regulatory authorities do not approve an intercompany transaction containing these ceding commissions, the pariticipating companies shall use their best good faith effort to structure the transaction for the Participating Companies in order that the sum of the Net Loss Ratio plus ceding commission percentage equals 93% for the Specialty Program Business and Insurance Risk Sharing Business.

  • Such Pooling Percentages shall be applied to all Specialty Program Business written by the Participating Companies.

  • The parties entered into the Agreement effective as of April 1, 2006, whereby the Reinsurer agreed to reinsure Specialty Program Business and Insurance Risk Sharing Business written by the Company subject to the terms and conditions as set forth in the Agreement.

  • A Participating Company may terminate their respective participation in the Specialty Program Business Pool as of the date forty eight (48) months after the Effective Date and thereafter as of the close of a calendar quarter by giving at least six (6) months prior written notice to the other party by certified or registered mail.

  • The Specialty Program Business and Insurance Risk Sharing Business Quota Share Reinsurance Agreement will be terminated when the Specialty Program Business Pooling Agreement, as described below, becomes effective.


More Definitions of Specialty Program Business

Specialty Program Business means all Program Business other than Traditional Program Business or Traditional Program Business that TICNY and CPIC agree shall be deemed Specialty Program Business.
Sample 1Sample 2
Specialty Program Business shall have the same meaning that it has in the Specialty Program Business Pooling Agreement.
Sample 1Sample 2
Specialty Program Business as used herein shall mean (i) all types of program business except traditional program business written by Company and (ii) traditional program business that Company elects not to manage and CastlePoint Holdings, Ltd., together with any of its subsidiaries, including Manager, elects to manage. “Program Business” used herein means narrowly defined classes of business that are underwritten on an individual policy basis by Program Underwriting Agents on behalf of insurance companies. Traditional Program Business shall mean blocks of Program Business in excess of $5 million in gross written premium that Tower has historically underwritten, consisting of non-auto related personal lines and the following commercial lines of business: retail stores and wholesale trades, commercial and residential real estate, restaurants, grocery stores, office and service industries, and artisan contractors. “Program Underwriting Agent” shall mean an insurance intermediary that aggregates business from retail and general agents and manages business on behalf of insurance companies, including functions such as risk selection and underwriting, premium collection, policy form design and client service.
Sample 1

Related to Specialty Program Business

  • Financial Services Business for purposes of this Unit Agreement shall mean the business of banking, including deposit, credit, trust and investment services, mortgage banking, asset management, and brokerage and investment banking services. (C) The term "Managerial Responsibilities" for purposes of this Unit Agreement shall mean managerial and supervisory responsibilities and duties that are substantially the same as that Grantee is performing for SunTrust or a SunTrust Affiliate on the date of this Unit Agreement. (D) The term "SunTrust Affiliate" for purposes of this Unit Agreement shall mean any corporation which is a subsidiary corporation (within the meaning of §424(f) of the Code) of SunTrust except a corporation which has subsidiary corporation status under §424(f) of the Code exclusively as a result of SunTrust or a SunTrust Affiliate holding stock in such corporation as a fiduciary with respect to any trust, estate, conservatorship, guardianship or agency. (E) The term "Territory" for purposes of this Unit Agreement shall mean the states of Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia, which are the states and Territories in which SunTrust has significant operations on the date of this Unit Agreement. (F) "Trade Secret" for purposes of Unit Agreement shall mean information, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers or suppliers that: (i) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from it is disclosure or use, and (ii) is the subject of reasonable efforts by SunTrust or a SunTrust Affiliate to maintain its secrecy.

  • Supply Business means the licensed business of the Licensee and anyaffiliate or related undertaking of the Licensee as a Supplier but shall not include the business carried out by the Board in its capacity as public electricity supplier;

  • Marketing program means a program established by order of the director pursuant to this act prescribing rules and regulations governing the marketing for processing, distributing, selling, or handling an agricultural commodity produced in this state or agricultural commodity input during a specified period and

  • Pharmacy services means the practice of pharmacy as defined in chapter 18.64 RCW and includes any drugs or devices as defined in chapter 18.64 RCW.

  • Licensed Business means the activities connected with the conveyance of

  • Specialty Drugs means drugs listed on the Approved Drug List meeting certain criteria, such as:

  • Tobacco products means cigars, cigarettes, cheroots, stogies, periques, granulated, plug cut, crimp cut, ready rubbed, and other smoking tobacco, snuff, snuff flour, moist snuff, cavendish, ping and twist tobacco, fine-cut and other chewing tobaccos, shorts, refuse scraps, clippings, cuttings and sweepings of tobacco, and other kinds and forms of tobacco, prepared in such manner as to be suitable for chewing or smoking in a pipe or otherwise, or both for chewing and smoking.

  • Micro Business means a company which either:

  • Specialty drug means a prescription drug that:

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which —

  • Generation Business means the licensed business (if any) of the Licenseeand any affiliate or related undertaking of the Licensee in the generation of electricity or the provision of Ancillary Services;

  • Alliance means the Public Service Alliance of Canada;

  • 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;

  • Minority Business means a business:

  • Cannabis business means any business activity involving cannabis, including but not limited to cultivating, transporting, distributing, manufacturing, compounding, converting, processing, preparing, storing, packaging, delivering, testing, dispensing, retailing and wholesaling of cannabis, of cannabis products or of ancillary products and accessories, whether or not carried on for gain or profit.

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

  • Women Business Enterprise (WBE) as used in this policy means a business enterprise that meets all of the following criteria:

  • Authorized business means 1 of the following:

  • Program services means services that include all of the following provided they are pursuant to a program agreement: program needs assessment and development, job task analysis, curriculum development and revision, instruction, instructional materials and supplies, computer software and upgrades, instructional support, administrative and student services, related school to career training programs, skill or career interest assessment services and testing and contracted services.