Cut off clause in NB

The simplest way to cut off clause in NB

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How to cut off clause in NB

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What is the monthly cut-off date?

Monthly cutoff date: This is a specific date set by a company at the end of each month to record and verify financial transactions.

What is the cut through clause in property insurance?

What Is a Cut-Through Clause? A cut-through clause is a reinsurance contract provision that allows a party, other than the ceding company and reinsurance company, to have rights under the agreement. Cut-through clauses are often triggered by specific events, such as when a ceding company becomes insolvent.

What is the cut-off of a reinsurance contract?

An insurance cutoff is a feature in a reinsurance contract that addresses how long the reinsurer must pay claims after the contract has been terminated. Also called a cutoff cancellation, the insurance cutoff lays out how long the reinsurer is liable to the insured.

What is cut through endorsement?

A cut through endorsement is a reinsurance contract endorsement providing that, in the event of the cedents insolvency, the reinsurer will pay any loss covered by the reinsurance contract directly to the insured.

What is an insurance cut-through clause?

The cut-through clause is a provision in a reinsurance agreement which clarifies that, should the primary insurer becomes insolvent, the reinsurer is still liable for its stated share of the loss but that payment will be made directly to the insured and not to the insurer as is normally done.

What is the cut-off period in accounting?

In accounting specifically, a cut-off date represents the end of a financial or reporting period, such as a month, quarter, or fiscal year. A cut-off date marks the last date to enter transactions in financial statements for that particular period.

What is the cutting clause?

A cargo clause in respect of pipes or cargo similar in length, which provides that damaged cargo should be cut off, leaving the good in pieces for the account of the Insured.

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