Policy Reserves definition

Policy Reserves means the reserves of Ceding Company as of the Reinsurance Effective Date with respect to the Policy Liabilities without giving effect to this Reinsurance Agreement.
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Policy Reserves means loss reserves (including incurred but not reported), allocated and unallocated loss adjustments expense reserves, unearned premium reserves and other reserves required to be maintained pursuant to SAP net of any related reinsurance.
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Policy Reserves. For each year beginning in 1965 the aggregate amount of policy reserves was input into the model. The ending reserve for June 30, 1995 was the amount transferred to Kanawha.
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Examples of Policy Reserves in a sentence

  • Total SAP Ceded Reserves Gross Policy Reserves calculated in accordance with SAP with respect to the reinsured risks.

  • The Reinsurer shall maintain Policy Reserves consistent with the law of any jurisdiction having regulatory authority with respect to the Policy Liabilities.

  • Annuity Policy Reserves: Fair values of the Company's liabilities under contracts not involving significant mortality or morbidity risks (principally deferred annuities), are stated at the cost the Company would incur to extinguish the liability (i.e., the cash surrender value).

  • The Policy Reserves of MICO recorded in the MICO SAP Statements, (i) have been computed in all material respects in accordance with generally accepted actuarial standards in effect on such date and (ii) were in compliance in all material respects with the requirements for Policy Reserves established by the domiciliary insurance regulatory authority of MICO.

  • Also Policy Reserves should be reported by Life and Waiver for Automatic and Facultative.

  • Reinsuran Allowances ce Quota Share Policy Reserves, Monthly Claims & Admin.

  • Such Net Policy Reserves shall be computed in accordance with commonly accepted actuarial standards consistently applied and fairly stated in accordance with sound actuarial principles and practices on a statutory basis.

  • At least quarterly, a report known as the Periodic Report shall be furnished to Reinsurer detailing the reserves, experience and such other items as are required to compute the Net Policy Reserves and any other information required for the functioning of this Agreement, including those amounts referenced in Section D.2 of this article.

  • Initial Reinsurance Premium The Initial Reinsurance Premium, which is the initial consideration for this agreement shall be equal to the Net Policy Reserves less an Initial Ceding Allowance equal to fifteen million dollars ($15,000,000) on the Coinsurance Effective Date.

  • Net Policy Reserves means reserves established for the Policies in an ------------------- amount equal to the sum of the unearned premium reserve, the actuarial reserve, other premium reserves (including advance premiums and net of due and deferred premium assets) and other miscellaneous reserves and policy liabilities (including the claim liability) associated with the policies reinsured hereunder.

Related to Policy Reserves

  • Loss Reserve means, on any date, an amount equal to the Loss Percentage multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date.

  • Contingency reserve means the reserve established for the protection of policyholders against the effect of losses result- ing from adverse economic cycles.

  • PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the definitions for oil and gas reserves promulgated by the Society of Petroleum Evaluation Engineers (or any generally recognized successor) as in effect at the time in question and reasonably acceptable to the Administrative Agent.

  • Statutory Reserves means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board and any other banking authority, domestic or foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation D of the Board). Eurodollar Loans shall be deemed to constitute Eurocurrency Liabilities (as defined in Regulation D of the Board) and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

  • Availability Reserves means, without duplication of any other Reserves or items that are otherwise addressed or excluded through eligibility criteria, such reserves as the Agent from time to time determines in its discretion as being appropriate (a) to reflect the impediments to the Agent’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that the Agent determines may need to be satisfied in connection with the realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which the Agent believes in good faith could adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Loan Party, or (d) to reflect that a Default or an Event of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include, in the Agent’s discretion, (but are not limited to) reserves based on: (i) rent; (ii) customs duties, and other costs to release Inventory which is being imported into the United States; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, claims of the PBGC and other Taxes which may have priority over the interests of the Agent in the Collateral; (iv) salaries, wages and benefits due to employees of any Borrower, (v) Customer Credit Liabilities, (vi) customer deposits, (viii) reserves for reasonably anticipated changes in the Appraised Value of Eligible Inventory between appraisals, (viii) warehousemen’s or bailee’s charges and other Permitted Encumbrances which may have priority over the interests of the Agent in the Collateral, (ix) amounts due to vendors on account of consigned goods, (x) Cash Management Reserves, (xi) Bank Products Reserves and (xii) royalties payable in respect of licensed merchandise.