Automatic Reinsurance Limits Clause Samples

The Automatic Reinsurance Limits clause defines the maximum amount of risk or liability that a reinsurer will automatically accept from a ceding insurer without the need for individual case-by-case approval. In practice, this clause sets specific thresholds—such as a dollar amount or percentage of a policy—up to which the reinsurer is obligated to cover claims automatically, while any risk exceeding these limits requires separate negotiation or facultative reinsurance. Its core function is to streamline the reinsurance process, providing clarity and efficiency by establishing clear boundaries for automatic coverage and reducing administrative burdens for both parties.
Automatic Reinsurance Limits a) Reinsurer’s Share: [ ] Automatic Quota Share: [ ] Automatic Excess: [ ] [ ] [ ] Automatic Quota Share: [ ] Automatic Excess: [ ] [ ]
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Automatic Reinsurance Limits. (Continued)
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Automatic Reinsurance Limits a) Reinsurer’s Share: [_____]
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Automatic Reinsurance Limits a) Reinsurer’s Share: Automatic Quota Share: [ ]% Automatic Excess: [ ]% Automatic Quota Share: [ ]% Automatic Excess: [ ]% Automatic Quota Share: [ ]% Automatic Excess: [ ]% b) Ceding Company’s Retention: Automatic Quota Share: The Ceding Company will retain [ ]% of the first $[ ] up to their maximum per life retention limit. Automatic Excess: The Ceding Company retains [ ]. Automatic Quota Share: The Ceding Company will retain [ ]% of the first $[ ] up to their maximum per life retention limit. Automatic Excess: The Ceding Company retains [ ]. Automatic Quota Share: The Ceding Company will retain [ ]% of the first $[ ] Million up to their maximum per life retention limit. Automatic Excess: The Ceding Company retains [ ].
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Automatic Reinsurance Limits a) Reinsurer’s Share: Automatic Quota Share: [ ] Automatic Excess: [ ] [ ]Effective January 1, 2023 through April 19, 2024 Automatic Quota Share: [ ] Automatic Excess: [ ] [ ]Effective November 21, 2020 through December 31, 2022Automatic Quota Share: [ ] Automatic Excess: [ ] [ ] b) Ceding Company’s Retention: Automatic Quota Share: The Ceding Company will retain the [ ] of the first [ ] up to their maximum per life retention limit. Automatic Excess: The Ceding Company retains [ ]. [ ]. Automatic Quota Share: The Ceding Company will retain [ ] of the first [ ] up to their maximum per life retention limit. Automatic Excess: The Ceding Company retains [ ]. [ ]. Automatic Quota Share: The Ceding Company will retain [ ] of the first [ ] up to their maximum per life retention limit. Automatic Excess: The Ceding Company retains [ ]. [ ]. c) Automatic and Facultative Obligatory Binding Limits: Effective April 20, 2024 Effective January 1, 2023 through April 19, 2024 Effective November 21, 2020 through December 31, 2022
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Automatic Reinsurance Limits 
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Related to Automatic Reinsurance Limits

  • Automatic Reinsurance For automatic reinsurance, the Reinsurer's liability will commence at the same time as the Ceding Company's liability, including liability under any conditional receipt or temporary insurance provision.

  • Coinsurance After the deductible is satisfied, seventy percent (70%) coverage up to the plan out-of-pocket maximum designated below.

  • Automatic Renewal Each Schedule will renew automatically at the end of the then-current Schedule Term for a Schedule Renewal Term unless terminated in accordance with this Agreement by either You or Company.

  • Credit for Reinsurance Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.

  • Employment Insurance Rebate The short-term sick leave plan shall be registered with the Employment Insurance Commission (EIC). The nurses' share of the employer's Employment Insurance premium reduction will be retained by the Hospital towards offsetting the cost of the benefit improvements contained in this agreement.