SEC Contract Filing

Filing Date: 2021-05-06

Document Content:
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<DIV><FONT size="1" style="font-size:1pt;color:white"> Maison Ins Co 17329N21 (Eff: 1-1-21) Property Aggregate XOL 1-15-21 MAISON INSURANCE COMPANY Baton Rouge, Louisiana PROPERTY AGGREGATE EXCESS OF LOSS REINSURANCE CONTRACT _______________________ Certain identified information has been omitted from this exhibit because it is not material and would be competitively harmful if publicly disclosed. Redactions are indicated by [***]. </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> Maison Ins Co 17329N21 (Eff: 1-1-21) Property Aggregate XOL 1-15-21 TABLE OF CONTENTS ARTICLE PAGE I BUSINESS COVERED 1 II TERM 1 III SPECIAL TERMINATION AND OTHER REMEDIES 2 IV DEFINITIONS 6 Declaratory Judgment Expense 6 Extra Contractual Obligations/Loss in Excess of Policy Limits 6 Loss Adjustment Expense 7 Loss Occurrence 7 Named Storm 9 Net Earned Premium 9 Policy 9 Ultimate Net Loss 9 V TERRITORY 10 VI EXCLUSIONS 10 VII SPECIAL ACCEPTANCES 11 VIII LIMIT AND RETENTION 12 IX REINSURANCE PREMIUM 12 X OTHER REINSURANCE 12 XI NET RETAINED LINES 13 XII NOTICE OF LOSS AND LOSS SETTLEMENTS 13 XIII LATE PAYMENTS 13 XIV SALVAGE AND SUBROGATION 15 XV INDEMNIFICATION AND ERRORS AND OMISSIONS 15 XVI LIABILITY OF THE REINSURER 15 XVII ENTIRE AGREEMENT 16 XVIII OFFSET 16 XIX CURRENCY 16 XX TAXES 16 XXI FEDERAL EXCISE TAX 17 XXII RESERVES AND FUNDING 17 XXIII THIRD PARTY RIGHTS 20 XXIV SEVERABILITY 20 XXV GOVERNING LAW 20 </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> Maison Ins Co 17329N21 (Eff: 1-1-21) Property Aggregate XOL 1-15-21 XVI ACCESS TO RECORDS 20 XXVII CONFIDENTIALITY 21 XXVIII INSOLVENCY 22 XXIX ARBITRATION 23 XXX SERVICE OF SUIT 25 XXXI MODE OF EXECUTION 26 XXXII SANCTIONS 26 XXXIII NON-WAIVER 26 XXXIV INTERMEDIARY 26 Nuclear Incident Exclusion Clause - Physical Damage-Reinsurance - U.S.A. Pools, Associations &amp; Syndicates Exclusion Clause Terrorism Exclusion (Property Treaty Reinsurance) N.M.A. 2930c Mold Exclusion Cyber Loss Limited Exclusion Clause (Property Treaty Reinsurance) No. 1 Limited Communicable Disease Exclusion No. 2 (Property Treaty Reinsurance) </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> Maison Ins Co 17329N21 (Eff: 1-1-21) Property Aggregate XOL Page 1 1-15-21 PROPERTY AGGREGATE EXCESS OF LOSS REINSURANCE CONTRACT (the &#8220;Contract&#8221;) between MAISON INSURANCE COMPANY Baton Rouge, Louisiana (the &#8220;Company&#8221;) including any and/or all of the subsidiary or affiliate companies that are now or may hereafter come under the ownership, management and/or control of the Company and THE SUBSCRIBING REINSURER(S) EXECUTING THE INTERESTS AND LIABILITIES AGREEMENT(S) ATTACHED HERETO (the &#8220;Reinsurer&#8221;) ARTICLE I BUSINESS COVERED This Contract is to indemnify the Company in respect of the liability that may accrue to the Company as a result of loss or losses under Policies classified by the Company as Property business, in force at the inception of this Contract, or written or renewed during the term of this Contract, subject to the terms and conditions hereafter set forth. ARTICLE II TERM A. This Contract shall apply to all losses occurring during the period from January 1, 2021, 12:01 a.m. Central Daylight Saving Time, to January 1, 2022, 12:01 a.m. Central Daylight Saving Time, or until such time as this Contract is terminated in accordance with the provisions of the SPECIAL TERMINATION AND OTHER REMEDIES ARTICLE. B. If this Contract is terminated or expires while a covered loss hereunder is in progress, the Reinsurer&#8217;s liability hereunder shall, subject to the other terms and conditions of this Contract, be determined as if the entire loss had occurred prior to the termination or expiration of this Contract, provided that no part of such loss is claimed against any renewal or replacement of this Contract. C. Notwithstanding the expiration or termination of the Reinsurer&#8217;s participation hereon, the provisions of this Contract shall continue to apply to all obligations and liabilities of the </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> Maison Ins Co 17329N21 (Eff: 1-1-21) Property Aggregate XOL Page 2 1-15-21 parties incurred hereunder until all such obligations and liabilities are fully performed and discharged. ARTICLE III SPECIAL TERMINATION AND OTHER REMEDIES A. The Company may terminate the share of the Reinsurer at any time, either during the term or after the expiration of this Contract, by giving written notice to the Reinsurer in the event the Reinsurer experiences one or more Special Termination Event(s). The effective date of termination shall be the date selected by the Company, which may be a date that is retroactively applied up to a maximum of 90 days pri