Extract to table

4 provides that the ceded earned premium base shall not include premiums "attributable to the assumption or cession of liabilities under any portfolio transfer, loss portfolio transfer, or run-off transaction

New York Law on Premium Reporting in Reinsurance Treaties Under New York law, premium reporting obligations in reinsurance treaties are generally treated as conditions precedent that must be materially complied with

A reinsurer cannot defeat the cedent's allocation merely by presenting an alternative actuarial opinion that reaches a different conclusion; it must demonstrate that the cedent's methodology was unreasonable, inconsistent, or not in good faith

Specifically, Pinnacle Atlantic must show either (a) that Article 5

The notice condition in a reinsurance treaty is generally treated as a condition that must be substantially, not strictly, complied with

1 is a clear, objective trigger: the cedent must provide notice when individual claim reserves reach $1,000,000