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Cut-Through Provisions in Reinsurance Agreements - IRMI
Mar 1, 2001 · A cut-through endorsement is a separate agreement between the reinsurer and the direct insured that becomes a part of the original reinsurance agreement. Like the cut-through clause, a cut-through endorsement usually applies when the ceding insurer becomes insolvent.
See results only from irmi.comPlaying the Name Game—A…
This language in a reinsurance contract is known as a "cut-through" clause. A cut …
cut through endorsement - I…
A cut through endorsement is a reinsurance contract endorsement providing that, in …
CUT THROUGH CLAUSE The Reinsurers and the Reinsured hereby agree that if the Reinsured shall at any time become insolvent or are otherwise prevented from meeting their obligations …
Playing the Name Game—An Update on Cut-Through …
Aug 15, 2009 · This language in a reinsurance contract is known as a "cut-through" clause. A cut-through clause allows a party that is not in privity with the reinsurer to have rights against the reinsurer as a part of the agreement …
Cut-Through Clause: Meaning, How it's Used, Benefits
When a primary insurer is of insufficient size or rating to meet the standards of a sophisticated insured or loss payee (often a mortgagee) on property or casualty business[1], cut-throughs …
Cut-Through Sample Clauses - Law Insider
With respect to services or materials paid for on a Pass-Through Expense basis, LAUSD reserves the right to: (i) obtain these services or materials directly from a third party; (ii) designate the …
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Cut Through Clause Sample Clauses - Law Insider
Cut Through Clause. A form of direct contractual relafionship with a policyholder with a cut-through clause in the reinsurance contract. A cut-through clause or assumpfion cerfificate is an …
A cut-through endorsement or clause is a provision in a contract of insurance which typically purports to afford protection to a policyholder against the insolvency of its insurer.
Cut Through Reinsurance Endorsement Agreement Sample …
The policy provision(s) or endorsement(s) must further provide that coverage is primary and not excess over or contributory with any other valid, applicable, and collectible insurance or self …
Virtual University | Cut-Through Endorsements - Independent Agent
Sometimes when an insurer encounters financial problems (real or perceived), cut-through endorsements may be issued. A cut-through endorsement is usually attached to insurance …
Do I need a cut-through endorsement letter? - UnifiBonds
Dec 23, 2014 · A cut-through endorsement letter also referred to as a loss payee endorsement or an assumption agreement, is a confirmation that any part of a loss covered by reinsurance will …
cut through endorsement - IRMI
A cut through endorsement is a reinsurance contract endorsement providing that, in the event of the cedent's insolvency, the reinsurer will pay any loss covered by the reinsurance contract …
cut-through endorsement
The cut-through endorsement is so named because it provides that the reinsurance claim payment "cuts-through" the usual route of payment from reinsured company-to-policyholder …
Cut-Through Endorsements - CompleteMarkets
Apr 30, 2013 · Both the primary carrier and reinsurer usually attach a cut-through endorsement to the policy. The endorsement should specifically reference the policy by number and policy …
Cut-Through Clauses: Definition, Applications, and Real
A cut-through clause in a reinsurance contract grants rights to a third party, apart from the ceding company and reinsurer, under specific circumstances. This article explores the workings of cut …
Cut-Through Endorsement - MyNewMarkets.com
Jul 18, 2008 · The endorsement stipulates that any payment the reinsurer would have made to the primary insurer goes directly to the insured. Note, this does not guarantee the payment of the …
Cut-Through Clause - Investor's wiki
Sep 16, 2023 · A cut-through clause basically cuts through the contract. In any case, a cut-through endorsement could be neeeded too, which is a separate add-on permitting an outsider …
Cut-through reinsurance clauses - enforceability - Lexology
Jun 27, 2011 · In this article we discuss some of the legal issues that are relevant to the enforceability of a cut-through provision. In overview these are: (potentially) inconsistency with …
Reinsurance: cut-through clauses - i-law
Cut-through clauses have been used in reinsurance contracts for many years. Their effect is to give the assured a direct claim against reinsurers.
Cut-Through Endorsement Definition - Law Insider
Examples of Cut-Through Endorsement in a sentence. The Ceding Company shall be entitled to issue a Cut-Through Endorsement (i) on or after the Effective Time, as to each Subject Policy …
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