Reinsurance Business Essays - Types Of Insurance, Reinsurance

Reinsurance Business Amount SHARE REINSURANCE AGREEMENT DWVD NO. 900804 for Fundamental COLLEGE ACCIDENT AND SICKNESS Clinical EXPENSE INSURANCE (hereinafter alluded to as the Agreement) made and gone into by GERBER LIFE INSURANCE COMPANY White Plains, NY (hereinafter alluded to as the Company) what's more, PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY Enfield, CT (hereinafter alluded to as the Reinsurer) Compelling: January 1, 1999 - December 31, 1999 Chapter by chapter list ARTICLE I ? Gatherings TO AGREEMENT 1 ARTICLE II ? Premise OF REINSURANCE 2 ARTICLE III ? Maintenance AND LIMIT 3 ARTICLE IV ? INURING REINSURANCE 4 ARTICLE V ? FACULTATIVE REINSURANCE 5 ARTICLE VI - EXCLUSIONS 6 ARTICLE VII ? Compelling DATE AND DURATION OF AGREEMENT 7 ARTICLE VIII ? REINSURANCE PREMIUMS 8 ARTICLE IX ? PREMIUM REPORTS 9 ARTICLE X ? Surrendering ALLOWANCE/EXPENSES 10 ARTICLE XI ? Cash 11 ARTICLE XII ? Cases NOTIFICATION 12 ARTICLE XIII ? Cases SETTLEMENT AND AUDIT 14 ARTICLE XIV ? EXTRA CONTRACTUAL OBLIGATIONS 15 ARTICLE XV ? SUBROGATION 16 ARTICLE XVI ? Replacement 17 ARTICLE XVII ? Cases FUND 18 ARTICLE XVIII ? Balance 19 ARTICLE XIX ? Domain 20 ARTICLE XX ? OVERSIGHTS 21 ARTICLE XXI ? ACCESS TO RECORDS 22 ARTICLE XXII ? Bankruptcy 23 ARTICLE XXIII ? Mediation 24 ARTICLE XXIV - CONTROLLING LAW 25 ARTICLE XXV ? SEVERABILITY 26 ARTICLE XXVI ? Unapproved REINSURERS 27 ARTICLE XXVII ? Assessments 29 ARTICLE XXVIII ? Government EXCISE TAX 30 ARTICLE XXIX ? Secrecy 31 ARTICLE XXX ? Whole AGREEMENT 32 ARTICLE XXXI ? Delegate 33 ARTICLE XXXII ? EXECUTION 34 ARTICLE I ? Gatherings TO AGREEMENT This Agreement is exclusively between the Company and the Reinsurer and the presentation of commitments of each gathering under this Agreement will be rendered exclusively to the next gathering. In no occurrences will anybody other than the Company or the Reinsurer have any rights under this Agreement with the exception of perceiving the Company has the sole obligation regarding the assessment and arrangement of the Underwriting Manager, Managed Care Concepts of Delaware, Inc. (MCCI). Further, it is concurred that Associated Accident and Health Reinsurance Underwriters (AAHRU), a taking part Reinsurer, is considered to be the Lead Reinsurer. In that limit, any activities of the Lead Reinsurer will be made to the greatest advantage of this Agreement and authoritative upon the different reinsurers. Should the Company name another Underwriting Manager, the Reinsurer must favor any adjustment in the Underwriting Manager, in any case the Reinsurer has the option to drop at the hour of pro gress. This Agreement will be official upon the gatherings, their beneficiaries, and replacements, assuming any. ARTICLE II ? Premise OF REINSURANCE On and after the powerful date of this Agreement, the Company will surrender and the Reinsurer will acknowledge as reinsurance, a Quota Share partition, as appeared inside ARTICLE XXXII ? EXECUTION, of the obligation on strategies, folios, agreements or understandings of protection, hereinafter alluded to as approaches, gave or reestablished by the Company on or after the viable date of this Agreement and endorsed for and for the benefit of the Company by the Underwriting Manager and named Basic College Accident and Sickness Medical Expense Insurance, as portrayed beneath: Fundamental College Accident and Sickness Medical Expense Insurance: Overabundance of all other substantial and collectible protection gave to the qualified understudies (different classes including, household undergrad, residential alumni and remote understudies) and their qualified wards. On the off chance that the qualified understudy doesn't have essential protection, this arrangement will be essential. A few plans might be composed on an essential reason for which advantages will at that point be facilitated with some other arrangement where the understudy is secured as a ward. Premiums must be paid before protection is in power and legitimate. The greatest advantage per individual secured guaranteed is $500,000. ARTICLE III ? Maintenance AND LIMIT The Reinsurer consents to acknowledge a fixed extent of 85% of the first $500,000 per individual per hazard for all business subject to this Agreement. The Company consents to hold for its own record 15% of the first $500,000 per individual per hazard for business subject to this Agreement. ARTICLE IV ? INURING REINSURANCE Inuring Reinsurance ? The Company and the Reinsurer consent to buy overabundance of misfortune reinsurance that safeguards to the advantage of all essential portion share members of this bargain for all per individual dangers that surpass $500,000. The price tag and reinsurance security to be endorsed by the Company and Lead Reinsurer. Should worthy reinsurance not be accessible, the Company and Lead Reinsurer will amend this Agreement as needs be. ARTICLE V ? FACULTATIVE REINSURANCE For business that doesn't meet