Specialty Program Business definition

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.
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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.
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Specialty Program Business shall have the same meaning that it has in the Specialty Program Business Pooling Agreement.
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Examples of Specialty Program Business in a sentence

  • 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.

  • ARS agrees to engage XXXX to perform services and XXXX accepts such engagement.

  • 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.

  • 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 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.

  • If this Pooling Agreement is terminated pursuant to this Article XIII, all rights and obligations of the Participating Companies with respect to Specialty Program Business ceded pursuant to this Pooling Agreement prior to such termination shall continue to be governed by the terms of this Pooling Agreement.

  • 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.

  • 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.

  • Notwithstanding paragraphs A and B above, this Pooling Agreement may be terminated immediately with respect to new or renewal business (a) at any time by mutual consent in writing by each of the Participating Companies or (b) as of the close of a calendar quarter, upon not less than sixty (60) days, prior written notice by a Participating Company to the other Participating Companies of such Participating Company’s exercise of its right to terminate its participation in the Specialty Program Business Pool.

  • 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.


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.
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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.
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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.

  • 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

  • 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.

  • Specialty Drugs means high-cost injectables, infused, oral, or inhaled Prescription Drugs for the ongoing treatment of a chronic condition, including but not limited to, the following: Hemophilia, Hepatitis C, Multiple Sclerosis, Rheumatoid Arthritis, Psoriasis, Crohn’s Disease, Cancer (oral medications), and Growth Hormones. These Prescription Drugs usually require specialized handling (such as refrigeration). Spouse means a person of the same or opposite sex who is legally married to Subscriber under the laws of the state or jurisdiction in which the marriage took place. A marriage legally entered into in another jurisdiction will be recognized as a marriage in the District of Columbia.

  • Resident Business or “Resident Contractor” means an entity that has a valid resident certificate issued by the NM Taxation and Revenue Department pursuant to Section 13-1-22 NMSA 1978.

  • 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:

  • Healthcare Facility means that portion of the Project operated on the Land as a Nursing Home, Intermediate Care Facility, Board and Care Home, Assisted Living Facility and/or any other healthcare facility authorized to receive insured mortgage financing pursuant to Section 232 of the National Housing Act, as amended, including any commercial space included in the facility.

  • Centers means the international agricultural and natural resources research centers that are members of the Consortium; and each a “Center”.

  • Specialty contractor means a person who is licensed to conduct business as described in subsection 4 of NRS 624.215.

  • 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.

  • 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.

  • Qualified high-technology business means a business that is either of the following:

  • 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:

  • Interscholastic Activities means athletic or non-athletic/academic activities where students compete on a school vs. school basis.