Cut off endorsement in LWP

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Aug 6th, 2022
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How to cut off endorsement in LWP

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hi iamp;#39;m attorney gregory dell joined by attorney rachel alters and weamp;#39;re going to discuss a case that rachel resolved against the cigna insurance company now taking over acquired by new york life insurance company and in this particular scenario i want to talk about the background of the case what you were able to do for the client provide some tips about that people could take away from this that may help them with their disability claim no matter what situation theyamp;#39;re in so first tell us about the occupation of this person the policy language and then weamp;#39;ll get into the basis of the denial and the claim sure um this was a claimant that i represented who was the vice president of sales for his region for apple computers um he had been with the company for 23 years and he was a very um you know dedicated employee he ran into an issue with his knee and needed multiple surgeries and after the first surgery he thought he would be okay within two months to g

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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.
cut-through clause: Used with retrocessions. The primary insurer has the ability to receive reinsurance payments directly from the retrocessionaire if unable to recover from the reinsurer.
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.
A common endorsement is scheduled personal property coverage, which you can buy as extra coverage for specific types of belongings. For example, you might have an insurance endorsement to add coverage for a valuable piece of jewelry, like an engagement ring, or expensive artwork.
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.

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