Common use of Method of Recapture Clause in Contracts

Method of Recapture. If we give you written notice of our intention to recapture due to an increase in our quota share percentage, we will do so within ninety days of the effective date of our quota share percentage increase. However, the prior sentence not withstanding, we may elect to recapture at a later date, provided we give you written notice before we begin the recapture. When we have given you written notice of our intent to recapture, and the date that we will begin the process of recapture: a) All eligible policies will be recaptured; b) The effective date of the recapture will be the next anniversary date of each eligible policy; c) Reinsurance on each eligible policy will be reduced by an amount that will increase our quota share percentage to the current limit set forth in Exhibit A. If we increase our stated quota share percentage shown in Exhibit A, the percentage of the risk reinsured will reduce proportionately. If reinsurance was placed with more than one reinsurer, each reinsurer’s percentage will be reduced in the same proportion that each reinsurer’s original percentage bore to the total percentage reinsured.

Method of Recapture. If we You will give you us written notice of our your intention to recapture due to an increase in our quota share percentage, we will do so within ninety days of the effective date of our your retention or quota share percentage increase. However, the prior sentence not withstanding, we may If you elect to recapture at a later date, provided we you will give you us additional written notice before we you begin the recapture. When we you have given you us written notice of our your intent to recapture, and the date that we the recapture will begin the process of recapturebegin: a) All eligible policies will be recaptured; b) The effective date of the recapture Reinsurance will be reduced on the next anniversary date of each eligible policy; c) Reinsurance on each eligible policy will be reduced by an amount that will increase our your retention or quota share percentage to the current limit set forth in Exhibit A. If we you increase our your retention or the stated quota share percentage shown in Exhibit A, the percentage of the risk reinsured will reduce proportionately. If reinsurance was placed with more than one reinsurer, each reinsurer’s 's percentage will be reduced in the same proportion that each reinsurer’s 's original percentage bore to the total percentage reinsured.