Technical provision definition

Technical provision means a sum calculated on the basis of an expectation and in accordance with the set actuarial methods, which is kept by an insurer in order to cover the liabilities stemming from insurance contracts;
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Technical provision means a sum calculated in reliance to an expectation and in accordance with the set ways, which is preserved in the account of the insurer in order to cover the liabilities stemming from the insurance contracts.
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Examples of Technical provision in a sentence

  • The table below sets out the results of the Technical provision calculations on the financial statements and Solvency II basis.

  • Technical provision calculated as a whole under Solvency II basis is equal to accumulated value under statutory accounts basis; however claim reserves under Solvency II basis are evaluated on best estimate principles and statutory accounts values are derived from actual reported claims.

  • Website usersPurpose of the processingLegal Basis(i) Technical provision of our site;(ii) Provide information about our services and products and understand your interests.(i) Article 6(1)(f) GDPR: Our legitimate interest is the successful provision of our website;(ii) Article 6(1)(f) GDPR: Our legitimate interest is to provide you with information about products and services we offer, and understand your interests inrelation to these.

  • Technical provision for life assurance policies where the investment risk is borne by the policyholders is the Group's liability towards these policyholders in the same amount.

  • Technical provision for the benefit of life insurance policyholders who bear the investment risk These are provisions for unit-linked life business.

  • If a credit union believes a particular member submission is not proper for posting, it will provide that submission to the Regional Director for review as described in paragraph (f)(5) of this section.

  • Technical provision represents the amounts that an insurer estimates will be needed to cover obligations to policyholders as and when they come due.

  • It will enable selected municipalities to address youth socioeconomic needs through targeted initiatives and services and thereby improve cooperation between youth and local governments.

  • Technical provision is well established in both the Main Auditorium and the Myers Studio.

  • The table below sets out the results of the Technical provision under both GAAP and Solvency II basis.

Related to Technical provision

  • Technical Agreement means any technical or quality agreements signed by You (or Your Affiliate) and RB (or RB’s Affiliates) specifying technical and quality responsibilities in respect of the Output entered into prior to the date of the Order.

  • Technical safeguards means the technology and the policy and procedures for its use that 27 protect electronic PHI and control access to it.

  • Supplemental Provisions means these Supplemental Provisions for Federally Funded Contracts, Grants, and Purchase Orders subject to the Federal Funding Accountability and Transparency Act of 2006, As Amended, as may be revised pursuant to ongoing guidance from the relevant Federal or State of Colorado agency or institution of higher education.

  • Technical data means recorded information, regardless of the form or method of the recording, of a scientific or technical nature (including computer software documentation). The term does not include computer software or data incidental to contract administration, such as financial and/or management information.

  • Technical Support Services means the technical support and maintenance Services provided by us according to our then-current technical support policy and procedure listed at xxxxxxxxxxxxx.xxx (“Technical Support Policy”) when the Services are purchased.

  • Technical Services means all services that are necessary to carry out individual, scattered site activities including but not limited to: (1) conducting initial inspections, (2) work write-up or project specification development, (3) cost estimate preparation, (4) construction supervision associated with activities that do not require an architect or engineer, (5) lead hazard reduction or lead abatement need determination and oversight, (6) lead hazard reduction or abatement carrying costs, (7) temporary relocation coordination, (8) financing costs such as security agreement preparation and recording or filing fees, (9) processing of individual applications for assistance, (10) income eligibility determination and verification, (11) value determination (new construction) or after rehabilitation value determination (existing structures), and (12) project-specific environmental clearance processes.

  • technical specification means, with respect to any Software, the document setting forth the technical specifications for such Software and included in the Statement of Work.

  • Standard Terms of Supply means the standard terms and conditions for Call-off Contracts set out in Schedule 5.

  • Statement of Work means the description of activities performed in completing the Project, as specified in the Contract and as may be amended.

  • General Provisions means those portions of the Subscription Agreement headed “General Provisions” and contained on pages 7 to 12;

  • Quality Agreement has the meaning set forth in Section 9.6.

  • Technical Documentation means designs, reports, photographs, drawings, plans, specifications, computer software, surveys, calculations and other data, information and material collected, computed, drawn or produced, including computer print-outs.

  • Additional Provisions shall have the meaning set forth in Section 15.01.

  • Data Safeguards means the highest industry-standard safeguards (including administrative, physical, technical, and procedural safeguards) against the destruction, loss, misuse, unauthorized disclosure, or alteration of the JBE Data or Confidential Information, and such other related safeguards that are set forth in Applicable Laws, a Statement of Work, or pursuant to JBE policies or procedures.

  • Diagnostic clinical procedures manual means a collection of written procedures that describes each method (and other instructions and precautions) by which the licensee performs diagnostic clinical procedures; where each diagnostic clinical procedure has been approved by the authorized user and includes the radiopharmaceutical, dosage, and route of administration.

  • Technical Services Agreement means the Technical Services Agreement between Cheniere LNG, Inc. and Contractor, dated June 7, 2010.

  • Technical Specifications means the detailed requirements for the Work furnished by the Architect and set forth in Book 3 of the Contract Documents.

  • Implementation Agreement means the Implementation Agreement dated ……… by and between the GOB, PGCB and the Company in connection with the Project, and also includes any amendment of it made from time to time;

  • Online Services Terms means the additional terms that apply to Customer’s use of Online Services published on the Licensing Site and updated from time to time.

  • Surgical procedure means a procedure that is performed

  • Use of System Agreement means an agreement or arrangement between us and a Distribution Network Operator governing our use of their Distribution System to provide the Supply;

  • Terms of Reference (TORs) means the Terms of Reference that explains the objectives, scope of work, activities, and tasks to be performed, respective responsibilities of the Procuring Entity and the Consultant, and expected results and deliverables of the assignment.

  • Terms-of-service agreement means an agreement that controls the relationship between a user and a custodian.

  • Data Use Agreement means the agreement incorporated into the Contract to facilitate creation, receipt, maintenance, use, disclosure or access to Confidential Information.

  • Technical Guidance Letter or “TGL” means an instruction, clarification, or interpretation of the requirements of the Contract, issued by the System Agency to the Grantee.

  • Other Definitional Provisions set forth in Section 1.2 of the Basic Servicing Agreement are incorporated by reference into this 2017-3 Servicing Supplement.