The Subscribing Reinsurer definition

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The Subscribing Reinsurer has merged with or has become acquired or controlled by any company, corporation, or individual(s) not controlling the Subscribing Reinsurer’s operations at the inception of this Contract.

The Subscribing Reinsurer s policyholders' surplus or the foreign equivalent thereto at any time after the date that lines are bound or at any time during the term of this Contract has been reduced by more than 25.0% of the amount of surplus or foreign equivalent at the date of the Subscribing Reinsurer's most recent financial statement filed with regulatory authorities and available to the public as of the date lines are bound for this Contract; or

Examples of The Subscribing Reinsurer in a sentence

The Subscribing Reinsurer has become insolvent or has been placed into liquidation or receivership (whether voluntary or involuntary), or there have been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, trustee in bankruptcy, or other agent known by whatever name, to take possession of its assets or control of its operations.
The Subscribing Reinsurer shall deposit such amount in such Trust Account within five (5) calendar days of receipt of such notice.
The Subscribing Reinsurer will provide (1) quarterly financial statements and (2) annual audited financial statements, which annual audited financial statements shall be prepared by an independent certified public accountant and will also notify the Company if a Termination Event has occurred within five (5) days of such occurrence.
The Subscribing Reinsurer has retroceded its entire liability under this Contract without the Company’s prior written consent, except for retrocessions to members of the Subscribing Reinsurer’s holding company group.
The Subscribing Reinsurer has hired an unaffiliated runoff claims manager that is compensated on a contingent basis or is otherwise provided with financial incentives based on the quantum of claims paid.

More Definitions of The Subscribing Reinsurer

The Subscribing Reinsurer s share in the attached Contract shall be separate and apart from the shares of the other reinsurers, and shall not be joint with the shares of the other reinsurers, it being understood that the Subscribing Reinsurer shall in no event participate in the interests and liabilities of the other reinsurers. In any action, suit or proceeding to enforce the Subscribing Reinsurer's obligations under the attached Contract, service of process may be made upon Mendes & Mount, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇. Signed for and on behalf of the Subscribing Reinsurer in the Signing Schedule attached hereto. INTERESTS AND LIABILITIES AGREEMENT of Certain Insurance Companies shown in the Signing Schedule(s) attached hereto (hereinafter referred to as the "Subscribing Reinsurer") with respect to the FIRST AND SECOND CASUALTY CATASTROPHE EXCESS OF LOSS REINSURANCE CONTRACT EFFECTIVE: JANUARY 1, 2007 issued to and duly executed by American Interstate Insurance Company DeRidder, Louisiana American Interstate Insurance Company of Texas Austin, Texas Silver Oak Casualty, Inc. DeRidder, Louisiana and any other insurance companies which are now or hereafter come under the ownership, control or management of Amerisafe Insurance Group The Subscribing Reinsurer hereby accepts the following percentage shares in the interests and liabilities of the "Reinsurer" as set forth in the attached Contract captioned above:

The Subscribing Reinsurer s policyholders' surplus subsequent to the date that lines are bound for this Contract has been reduced by more than 20.0% of the amount of surplus 12 months prior to that date; or

The Subscribing Reinsurer s share in the attached Contract shall be separate and apart from the shares of the other reinsurers, and shall not be joint with the shares of the other reinsurers, it being understood that the Subscribing Reinsurer shall in no event participate in the interests and liabilities of the other reinsurers. In any action, suit or proceeding to enforce the Subscribing Reinsurer's obligations under the attached Contract, service of process may be made upon Mendes & Mount, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇. Signed for and on behalf of the Subscribing Reinsurer in the Signing Schedule(s) attached hereto. FIRST CASUALTY EXCESS OF LOSS REINSURANCE CONTRACT (AS RESPECTS HANNOVER TERMS) EFFECTIVE: JANUARY 1, 2005 issued to American Interstate Insurance Company DeRidder, Louisiana American Interstate Insurance Company of Texas Austin, Texas Silver Oak Casualty, Inc. DeRidder, Louisiana and any other insurance companies which are now or hereafter come under the ownership, control or management of Amerisafe Insurance Group TABLE OF CONTENTS FIRST CASUALTY EXCESS OF LOSS REINSURANCE CONTRACT (AS RESPECTS HANNOVER TERMS) EFFECTIVE: JANUARY 1, 2005 issued to American Interstate Insurance Company DeRidder, Louisiana American Interstate Insurance Company of Texas Austin, Texas Silver Oak Casualty, Inc. DeRidder, Louisiana and any other insurance companies which are now or hereafter come under the ownership, control or management of Amerisafe Insurance Group (hereinafter referred to collectively as the "Company") by The Subscribing Reinsurer(s) Executing the Interests and Liabilities Agreement(s) Attached Hereto (hereinafter referred to as the "Reinsurer")