Intermediary Clause Reinsurance Agreement

1. The reinsurance contract contains a provision under which the reinsurer assumes all credit risks of the intermediary in relation to payments made to the intermediary; and (a) when a retired insurer is reassurance through a “reinsurance agent” within the meaning of Section 2101(f) of the Insurance Act; If the insurer operating in that country is neither licensed nor has the reinsurance provided to the insurer that is presenting itself in accordance with the provisions of Section 1301 (a) (14) of the Insurance Act, the casual insurer cannot obtain credit unless a receptive insurer and several reinsurers are considering entering into a reinsurance contract. The contract contains a clause that if it inadvertently transfers payments to the reinsurance intermediary that does not transfer that payment to the intended reinsurer, the receptive insurer is required to return the payments to the reinsurer up to the amount transferred to the intermediary. Is this contractual clause contrary to the New York Insurance Act or the provisions that are passed? A clause in a reinsurance contract to network and distribute losses resulting from a single event between two or more reinsurance contracts. The opposite of the event approach is that all losses resulting from an event have a loss date, regardless of the number of data from loss or reinsurance contracts. We have been informed that some of the reinsurers involved in the transaction are unauthorized insurers. If one of these unauthorized reinsurers does not have N.Y. Ins funds for the withdrawn insurer. Law s. 1301(a) (14) (McKinney 2000), the provided reinsurance contract clause also contravenes N.Y. Comp. Codes R.

-Regs. It`s Tit. 11, 125.6 (Regulation 20). b) Except as stated here, the reinsurance intermediary cannot disclose the funds of premiums or losses that it receives or has recovered in this capacity with its own funds or with resources it holds as an insurance agent, insurance broker or other quality. The above list is not designed as included. Further changes and changes may be necessary depending on the content of the agreement submitted. The contractual clause states in part that “irremediable payments made by the reinsurer to the intermediary are considered payments to the reinsurer.” He adds: “Unless the intermediary does not transfer such payments to the reinsurer and the reinsurer suffers harm, the damage liquidated for the injury by the insured would be the amount so misdirected.” First, we do not know what “unintentionally” means, so the language of the contract is vague. Second, Section 2120, Point b), and Regulation 98 make the Ombudsman responsible for the funds received and faithfully give the intended parties the funds due to them.