Reinsurance Business :: GCSE Business Marketing Coursework

Reinsurance Business term I PARTIES TO AGREEMENTThis transcription is solely between the Company and the Reinsurer and the performance of obligations of each party to a lower place this Agreement shall be rendered solely to the different party. In no instances shall anyone other than the Company or the Reinsurer have any rights under this Agreement unless recognizing the Company has the sole responsibility for the evaluation and appointment of the Underwriting Manager, Managed Care Concepts of Delaware, Inc. (MCCI). Further, it is agree that Associated Accident and Health Reinsurance Underwriters (AAHRU), a participating Reinsurer, is deemed to be the Lead Reinsurer. In that capacity, any and all actions of the Lead Reinsurer shall be made in the surmount interest of this Agreement and hold fast upon the other reinsurers. Should the Company appoint a new Underwriting Manager, the Reinsurer must approve any change in the Underwriting Manager, other the Reinsurer has the r ight to cancel at the time of change.This Agreement shall be binding upon the parties, their heirs, and successors, if any. ARTICLE II BASIS OF REINSURANCEOn and after the effective come across of this Agreement, the Company shall cede and the Reinsurer shall accept as reinsurance, a Quota Share portion, as shown within ARTICLE XXXII EXECUTION, of the liability on policies, binders, contracts or agreements of insurance, hereunder referred to as policies, issued or renewed by the Company on or after the effective date of this Agreement and underwritten for and on behalf of the Company by the Underwriting Manager and classified as Basic College Accident and sickness checkup Expense Insurance, as described belowBasic College Accident and Sickness Medical Expense InsuranceExcess of all other legitimate and collectible insurance issued to the eligible students (various classes including, domestic undergraduate, domestic graduate and extraneous students) and their eligible depend ents. If the eligible student does not have primary insurance, this cast will be primary. Some plans may be written on a primary basis for which benefits will then be coordinated with any other plan in which the student is covered as a dependent. Premiums must be paid before insurance is in force and valid. The maximum benefit per individual covered insured is $500,000. ARTICLE III RETENTION AND LIMITThe Reinsurer agrees to accept a fixed counterpoise of 85% of the first $500,000 per person per risk for all business clear to this Agreement.