Common use of Offset Clause in Contracts

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 98 contracts

Sources: Quota Share Reinsurance Contract, Quota Share Reinsurance Contract, Quota Share Reinsurance Contract

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 23 contracts

Sources: Third Excess of Loss Reinsurance Agreement (Scpie Holdings Inc), Excess of Loss Reinsurance Agreement (Scpie Holdings Inc), Reinsurance Agreement (Scpie Holdings Inc)

Offset. The As of any date, the Company and the any Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may may, with the concurrence of the other party, exercise such right any time, whether the balances due are on account of premiums premiums, Covered Amounts or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetlate payment fees.

Appears in 11 contracts

Sources: Quota Share Reinsurance Contract, Quota Share Reinsurance Contract, Quota Share Reinsurance Contract

Offset. The Company and the Reinsurer shall will have the right to offset any balance or amounts balances whether on account of premiums, allowances or claims due from one party to the other, under this Agreement or under any other under reinsurance agreement between the terms of this ContractCompany and the Reinsurer. The party asserting the right of offset may exercise such right any time, whether will not be affected or diminished because of the balances due are on account insolvency of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offseteither party.

Appears in 8 contracts

Sources: Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Reinsurance Agreement (John Hancock Life Insurance Co of New York Separate Account B), Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A)

Offset. The Company and or the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 7 contracts

Sources: Quota Share Treaty (Amerinst Insurance Group LTD), Quota Share Treaty (Amerinst Insurance Group LTD), Quota Share Treaty (Amerinst Insurance Group LTD)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offsetas permitted by applicable insolvency or liquidation law.

Appears in 6 contracts

Sources: Reinsurance Contract (Positive Physicians Holdings,inc.), Reinsurance Contract (Positive Physicians Holdings,inc.), Reinsurance Contract (Positive Physicians Holdings,inc.)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided. However, howeverin the event of the insolvency of any party hereto, that nothing offset shall only be allowed in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetaccordance with applicable law.

Appears in 6 contracts

Sources: Loss Portfolio Transfer Reinsurance Contract (Procentury Corp), Loss Portfolio Transfer Reinsurance Contract (Procentury Corp), Loss Portfolio Transfer Reinsurance Contract (Procentury Corp)

Offset. A. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractContract or any other contracts between the parties. The party asserting the right of offset may exercise such right any time. B. Notwithstanding the provisions of paragraph A above, whether a Special Circumstance Reinsurer shall not offset balances as outlined above without the balances due are on account prior consent of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetCompany.

Appears in 5 contracts

Sources: Reinsurance Contract (Homeowners of America Holding Corp), Reinsurance Contract (Homeowners of America Holding Corp), Reinsurance Contract (Homeowners of America Holding Corp)

Offset. The Company and the Reinsurer shall will have the right to offset undisputed balances whether on account of premiums, allowances (if applicable), claims, or any balance or amounts other amount(s) due from one party to the other other, under this Agreement or any agreement between the terms of this Contractparties. The party asserting the right of offset may exercise such right any time, whether will not be affected or diminished because of the balances due are on account Insolvency of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offseteither party.

Appears in 4 contracts

Sources: Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A), Reinsurance Agreement (John Hancock Life Insurance Co of New York Separate Account B)

Offset. The Company and or the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right at any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetlosses.

Appears in 4 contracts

Sources: Crop Hail Insurance Quota Share Contract (Goran Capital Inc), Crop Hail Insurance Quota Share Contract (Symons International Group Inc), Quota Share Contract (Goran Capital Inc)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 4 contracts

Sources: Reinsurance Contract (Assuranceamerica Corp), Reinsurance Contract (Assuranceamerica Corp), Reinsurance Contract (Flagstone Reinsurance Holdings LTD)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided. However, howeverin the event of the insolvency of any party hereto, that nothing offset shall only be allowed in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetaccordance with applicable law.

Appears in 3 contracts

Sources: Quota Share Reinsurance Agreement (CastlePoint Holdings, Ltd.), Quota Share Reinsurance Agreement (CastlePoint Holdings, Ltd.), Quota Share Reinsurance Agreement (CastlePoint Holdings, Ltd.)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; providedotherwise and immediately inform the Intermediary accordingly. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offsetas permitted by applicable law.

Appears in 3 contracts

Sources: Casualty Excess of Loss Reinsurance Contract (Penn Millers Holding Corp), Property Excess of Loss Reinsurance Contract (Penn Millers Holding Corp), Umbrella Quota Share Reinsurance Contract (Penn Millers Holding Corp)

Offset. The Company Reinsured and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; providedotherwise and immediately inform the Intermediary accordingly. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offsetas permitted by applicable law.

Appears in 2 contracts

Sources: Terrorism Catastrophe Excess of Loss Reinsurance Contract (Philadelphia Consolidated Holding Corp), Terrorism Catastrophe Excess of Loss Reinsurance Contract (Philadelphia Consolidated Holding Corp)

Offset. The Company and the Reinsurer shall will have the right to offset undisputed balances whether on account of premiums, allowances (if applicable), claims, adjustments, expenses, or any balance or amounts other amount(s) due from one party to the other other, under this Agreement or any agreement between the terms of this Contractparties. The party asserting the right of offset may exercise such right any time, whether will not be affected or diminished because of the balances due are on account insolvency of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offseteither party.

Appears in 2 contracts

Sources: Reinsurance Agreement (John Hancock Life Insurance Co of New York Separate Account B), Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A)

Offset. The Company and the Reinsurer shall will have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 2 contracts

Sources: Reinsurance Contract (Prudential Variable Contract Account Gi-2), Reinsurance Contract (Prudential Variable Contract Account Gi-2)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement or any other agreement between the Company and the Reinsurer. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses Reinsurance Premiums, Ultimate Net Losses, Loss Adjustment Expenses or otherwise; provided. However, howeverin the event of insolvency of any party hereto, that nothing offset shall only be allowed in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetaccordance with applicable law.

Appears in 2 contracts

Sources: Aggregate Excess of Loss Retrocession Agreement (Tower Group, Inc.), Aggregate Excess of Loss Retrocession Agreement (Tower Group, Inc.)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses losses, or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Sources: Reinsurance Agreement (American Physicians Service Group Inc)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article . This right of offset shall apply to any amounts due to not be affected by the Insured under this Contract and any Exhibits hereto (including insolvency of either the Policy), as to which amounts there shall be no right to offsetCompany or the Reinsurer.

Appears in 1 contract

Sources: Aggregate Stop Loss Reinsurance Contract (Ismie Holdings Inc)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due as billed from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due as billed are on account of premiums or losses or otherwise; providedotherwise and immediately inform the Intermediary accordingly. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offsetas permitted by applicable insolvency or liquidation law.

Appears in 1 contract

Sources: Reinsurance Agreement

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Sources: Quota Share Reinsurance Contract

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Sources: Excess of Loss Reinsurance Agreement (Scpie Holdings Inc)

Offset. The Company and the Reinsurer Reinsurers shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, whether time where the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Sources: Excess Cession and Event Reinsurance Contract (Miix Group Inc)

Offset. The Company and the Reinsurer shall will have the right to offset undisputed balances whether on account of premiums, allowances (if applicable), claims, or any balance or amounts other amount(s) due from one party to the other under with respect to this Agreement, and only the terms of this Contract. The party asserting the right of offset may exercise such right any time, whether the balances due are on account of premiums balance will be allowed or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offsetpaid.

Appears in 1 contract

Sources: Reinsurance Agreement (John Hancock Life Insurance Co of New York Separate Account B)

Offset. The Except with respect to Reinsurer’s Obligations under Article 14 of this Agreement, the Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Sources: Professional Liability Quota Share Agreement (Amerinst Insurance Group LTD)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses or otherwise; providedotherwise and immediately inform the Intermediary accordingly. In the event of the insolvency of any party, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offset shall be no right to offset.as permitted by applicable law,

Appears in 1 contract

Sources: Property Catastrophe Excess of Loss Reinsurance Contract (Penn Millers Holding Corp)

Offset. The Company and the Reinsurer shall will have the right to offset undisputed balances whether on account of premiums, allowances (if applicable), claims, or any balance or amounts other amount(s) due from one party to the other other, under this Agreementor any agreement between the terms of this Contractparties. The party asserting the right of offset may exercise such right any time, whether will not be affected or diminished because of the balances due are on account Insolvency of premiums or losses or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offseteither party.

Appears in 1 contract

Sources: Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account A)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this ContractAgreement. The party asserting the right of offset may exercise such right any time, time whether the balances due are on account of premiums or losses losses, or otherwise; provided, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there shall be no right to offset.

Appears in 1 contract

Sources: Quota Share Reinsurance Agreement (21st Century Holding Co)

Offset. The Company and the Reinsurer shall have the right to offset any balance or amounts due from one party to the other under the terms of this Contract. Contract The party asserting the right of offset may exercise such right at any time, time whether the balances due are on account of premiums or losses or otherwise; provided. In the event of the insolvency of a party hereto, however, that nothing in this Article shall apply to any amounts due to the Insured under this Contract and any Exhibits hereto (including the Policy), as to which amounts there offsets shall be no right to offsetallowed only in accordance with the provisions of any applicable state statutes governing offset entitlement.

Appears in 1 contract

Sources: Surety Excess of Loss Reinsurance Contract (Cna Surety Corp)