Common use of First Layer Clause in Contracts

First Layer. The Company shall retain the first $90,000 of ultimate net loss each risk, each occurrence. The Reinsurer shall indemnify the Company for 100% of the amount by which the ultimate net loss exceeds the Company’s retention, but the liability of the Reinsurer shall not exceed $160,000 ultimate net loss each risk, each occurrence, and is further subject to the limits set forth below: $480,000 ultimate net loss for all risks in any one loss occurrence. $480,000 ultimate net loss in the aggregate for all loss occurrences each calendar year.

First Layer. The Company shall retain the first $90,000 100,000 of ultimate net loss each risk, each occurrence. The Reinsurer shall indemnify the Company for 100% of the amount by which the ultimate net loss exceeds the Company’s retention, but the liability of the Reinsurer shall not exceed $160,000 150,000 ultimate net loss each risk, each occurrence, and is further subject to the limits set forth below: $480,000 450,000 ultimate net loss for all risks in any one loss occurrence. $480,000 450,000 ultimate net loss in the aggregate for all loss occurrences each calendar year.