Traditional Insurance Business definition

Traditional Insurance Business means the Seller Parent’s and its Subsidiaries’ businesses solely related to establishing, underwriting, selling, paying benefits under, administering and/or maintaining the Traditional Insurance Policies in the United States, in each case, excluding the Non-Traditional Insurance Business.
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Traditional Insurance Business means those commercial and personal lines of property, liability and workers' compensation insurance in any jurisdiction in which either of Merchants New Hampshire or Merchants Mutual is or was licensed to do an insurance business, which insurance was produced through the Companies' independent insurance agents pursuant to the Previous Management Agreement, including residual market assumptions and assessments, industry underwriting facilities charges, and all similar assessments and charges attributable to such business, and such other business as the Companies may mutually agree.
Sample 1
Traditional Insurance Business means those commercial and personal lines of property, liability and workers' compensation insurance in any jurisdiction in which either of MNH or MMIC is or was licensed to do an insurance business, which insurance was produced through the Pooled Companies' independent insurance agents pursuant to the Management Agreement dated as of September 29, 1986 among MMIC, MNH and MGI (the "Previous Management Agreement"), including residual market assumptions and assessments, industry underwriting facilities charges, and all similar assessments and charges attributable to such business, and such other business as the Pooled Companies may mutually agree.
Sample 1

Examples of Traditional Insurance Business in a sentence

  • No stockholder, officer, director or employee of any of the Acquired Companies, or any immediate family member or Affiliate of any such officer, director or employee, (a) owns, directly or indirectly, any interest in any asset or other property used in or held for use in the Traditional Insurance Business or (b) is a debtor or creditor of the Acquired Companies except with respect to any officer, director or employee of any of the Acquired Companies in the Ordinary Course of Business.

  • The parties hereto shall, on and after the Effective Date, participate in all of the underwriting operations related to the Traditional Insurance Business of each of the Pooled Companies hereto on the basis of their Pooling Percentages as set forth in Schedule 2 attached hereto.

  • MNH shall pay profit sharing to MMIC equal to the amount that the actual cumulative net loss and LAE ratio on the Pooled Traditional Insurance Business from the Effective Date is less than 74.0% times MNH's cumulative earned premium assumed under this Pooling Agreement, multiplied by the Profit Sharing percentages in the table below.

  • Client hereby appoints Administrator and Administrator hereby accepts appointment by Client to provide the administrative, bookkeeping, accounting and other similar functional services enumerated in Section II below and related to the administration of Merchants New Hampshire's Traditional Insurance Business and to the day-to-day administration of MGI's bookkeeping, accounting and related needs.

  • The Exchange had intended to implement these changes on January 7, 2002.3 However, feedback from several members and member organizations indicated that they will need additional time to implement procedures, including automatic surveillance procedures, to fully comply with the provisions of Rules 134, 407A, and 411.

  • MMIC will pay to, or return ceding commissions paid by, MNH equal to the amount that the actual cumulative net loss and LAE ratio on the Pooled Traditional Insurance Business from the Effective Date is greater than 74.0% times MNH's cumulative earned premium assumed under this Pooling Agreement, multiplied by the Retrospective Commission percentages in the table below.

  • Such funds shall be deposited in an account (the "Deposit Account") established and maintained by Administrator for premiums collected on Traditional Insurance Business written by Merchants New Hampshire, Merchants Mutual and other affiliated insurers (the "depositing companies") which might also underwrite the same lines of insurance as are included with Merchants New Hampshire's Traditional Insurance Business.

  • Licensed IP Rights” means, other than Trademarks, any and all Intellectual Property owned by the Seller Parties or any of their Affiliates (other than the Acquired Companies) that was used or practiced in the Traditional Insurance Business in the twelve (12) months prior to the Closing.

  • To the extent the new subsidiary writes Traditional Insurance Business, the Pooled Companies agree that the new subsidiary shall become a party to this Pooling Agreement and shall participate in MMIC's Pooling Percentage of the Traditional Insurance Business subject to this Pooling Agreement.

  • Merchants New Hampshire hereby appoints Administrator and Administrator hereby accepts appointment by Merchants New Hampshire to act on behalf of Merchants New Hampshire in underwriting and servicing Merchants New Hampshire's Traditional Insurance Business incepting and in force during the Term of this Annex.


More Definitions of Traditional Insurance Business

Traditional Insurance Business means the Traditional Insurance segment of UAM as reported in its SEC filings as of the Closing Date, which includes the Medicare supplement, other senior health insurance, specialty health insurance, and life insurance.
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Related to Traditional Insurance Business

  • general insurance business means any class of insurance business other than long-term insurance business;

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • long-term insurance business means the business of providing or undertaking to provide policy benefits under long-term policies, but does not include -

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • 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.

  • Blanket travel insurance means a policy of travel insurance issued to any eligible group providing coverage for specific classes of persons defined in the policy with coverage provided to all members of the eligible group without a separate charge to individual members of the eligible group.

  • Additional Insureds has the meaning specified in Section 7.06(a) of the Indenture.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Health insurance carrier or "carrier" means any entity subject to the insurance

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Additional Insured is defined in Section D of Annex D to the Lease.

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.