TICL coverage definition

TICL coverage means the coverage for an insurer's
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TICL coverage means the coverage for an insurer’s
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TICL coverage means the coverage for an insurer's 939 losses above the insurer's statutorily determined claims-paying 940 capacity based on the claims-paying limit in subparagraph
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Examples of TICL coverage in a sentence

  • The TICL coverage selected is irrevocable and shall not overlap or duplicate coverage otherwise provided for in the Reimbursement Contract, or any Addenda to the Reimbursement Contract, or offset any co-payments or retention amounts.

  • If your Company does not want to purchase any TICL coverage, print “No Coverage” on the line below and initial the box.

  • The TICL coverage shall be in addition to all other coverage provided by the FHCF under the Company’s Reimbursement Contract or other Addenda to the Reimbursement Contract, and shall be in addition to the claims-paying capacity of the FHCF as defined in Section 215.555(4)(c)1., Florida Statutes, but only with respect to those insurers that select the TICL coverage.

  • In order to determine the Company’s total limit of coverage, the Company’s TICL coverage multiple is added to its regular Payout Multiple under the Reimbursement Contract.

  • Due to the Legislature’s intention to price the TEACO coverage at market rates, the price was not considered a “bargain” by insurers unlike the TICL coverage.

  • The Addenda was made necessary by CS/CS/CS/HB 1495, which became law on May 27, 2009, which required a 5% cash build up factor be added to the FHCF Premium Formula, made changes to the Temporary Increase in Coverage Limit Options (TICL) coverage options and made changes to the price for the TICL coverage.

  • A detailed summary of TICL coverage and premium options can be found in Exhibit XVII.

  • TICL coverage was priced on the same basis of the FHCF’s mandatory coverage, which does not have the high risk loads necessary to attract capital as in private reinsurance pricing.

  • The optional coverage above was known as the Temporary Increase in Coverage Limit (TICL) coverage, which allowed insurers to select their FHCF premium share of a $12 billion limit or increments of $1 billion thereof to expand their FHCF coverage limit.

  • Clearly, this is not something the residents will “get used to” over time, as suggested by County staff.


More Definitions of TICL coverage

TICL coverage means the coverage for an insurer’s losses above the insurer’s statutorily determined claims-paying capacity based on the claims- paying limit in subparagraph (4)(c)1., which an insurer selects as its tempo- rary increase in coverage from the fund under the TICL options selected. A TICL insurer’s increased coverage limit options shall be calculated as fol- lows:
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Related to TICL coverage

  • Period of Coverage means the Plan Year, with the following exceptions: (a) for Employees who first become eligible to participate, it shall mean the portion of the Plan Year following the date on which participation commences, as described in Section 3.1; and (b) for Employees who terminate participation, it shall mean the portion of the Plan Year prior to the date on which participation terminates, as described in Section 3.2.

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • Health Coverage means that if Key Employee elects to continue coverage for himself or his eligible dependents under the Company’s group health plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), during the twelve-month period commencing on the date of Key Employee’s termination of employment from the Company (the “Severance Period”), then throughout the Severance Period the Company shall promptly reimburse Key Employee on a monthly basis for the difference between the amount Key Employee pays to effect and continue such coverage and the employee contribution amount that active senior employees pay for the same or similar coverage under Company’s group health plans. Further, if after the Severance Period Key Employee continues his COBRA coverage and Key Employee’s COBRA coverage terminates at any time during the eighteen-month period commencing on the day immediately following the last day of the Severance Period (the “Extended Coverage Period”), then the Company shall provide Key Employee (and his eligible dependents) with health benefits substantially similar to those provided under its group health plans for active employees for the remainder of the Extended Coverage Period at a cost to Key Employee that is no greater than the cost of COBRA coverage; provided, however, that the Company shall use its reasonable efforts so that such health benefits are provided to Key Employee under one or more insurance policies (or such other manner) so that reimbursement or payment of benefits to Key Employee thereunder shall not result in taxable income to Key Employee. Notwithstanding the preceding provisions of this paragraph, the Company’s obligation to reimburse Key Employee during the Severance Period and to provide health benefits to Key Employee during the Extended Coverage Period shall immediately end if and to the extent Key Employee becomes eligible to receive health plan coverage from a subsequent employer (with Key Employee being obligated hereunder to promptly report such eligibility to the Company).

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.