Hydra meaning free#

Heracles then had to ask for the help of his nephew Iolaus.

While the monster hugged one of his legs, Hera sent a giant crab that pinched his foot. In order to force the Hydra out of the marsh, Heracles used flaming arrows before seizing her firmly. It had a large number of heads (six to fifty depending on the sources). The Hydra was a giant water snake, born of Echidna and Typhon, who lived in the marshes near the Amymone springs and ravaged the surrounding country. Heracles fighting the Lernaean Hydra with the help of Iolaos вЂ“ Louvre MuseumДЄfter the test of the Nemean Lion, Eurystheus ordered the hero to kill the Lernaean Hydra. The method to navigate in the site is given in the Home tab. This progression follows the spiritual journey. To fully understand this web page, it is recommended to follow the progression given in the tab Greek myths interpretation.

USD 3.1bn USD 2.1bn USD 1.5bn USD 1bn USD 750m USD 550m USD 100m Collective Overspill - USD 1bn and in the annual aggregate, (one reinstatement) xs USD 2.1bn Layer 4 - USD 600m xs 1.5bn Layer 4 - USD 600m xs 1.The Lernaean Hydra that Heracles must overcome during his second labour symbolizes the victory over desire and the primary movements of appropriation.

These aggregate limits total US$2.15 billion for the Risks across all Layers.ДЇor any losses excess of these annual aggregate limits, Group Clubs have agreed to Pool losses that would otherwise be recoverable from the GXL, ensuring no change to the cover provided to Shipowners.

Annual aggregate limits have been agreed separately for each Layer, but with вЂdrop-downвЂ™ features resulting in Layers 2, 3 and 4 reinsurers agreeing to make their aggregate limit available for claims in the lower Layers if necessary.

The annual aggregate limits within the reinsurance for losses directly caused by these Risks apply to Layers 2, 3 and 4, as follows:

Hydra meaning free#

Losses below US $550 million continue to be covered by the reinsurance on a free and unlimited basis whether or not the loss is caused by one of these Risks. All other claims continue to be covered on a free and unlimited basis within all layers of the GXL. In response to the market-wide coverage restrictions with respect to Malicious Cyber, Covid-19 and other new Pandemic risks (the вЂњRisksвЂќ), there are now annual aggregate limits within the reinsurance for any losses with a value greater than US $550 million directly arising from these Risks. Hydra retains a US $100 million AAD within the 70% Market Share in Layer 1, and there are three multi-year private placements, each of which are 10%.ДЄ further US $1 billion of reinsurance cover (the вЂњCollective OverspillвЂќ) is purchased by the Group to provide protection in respect of claims exceeding the upper GXL cover limit of US $2.1 billion. The annual Group General Excess of Loss (вЂњGXLвЂќ) reinsurance programme attaches at the Pool ceiling of US $100 million, and provides up to US $2 billion of reinsurance cover in a four-layer structure (Layer 1 - US $450 million excess of US $100 million, Layer 2 - US $200 million in excess of US $550 million, Layer 3 - US $750 million excess of US $750 million and Layer 4 вЂ“ US $600 million excess of US $1.5 billion). Through the participation of Hydra, the Group Clubs can retain, within their Hydra cells, premium which would otherwise have been paid to the commercial reinsurance markets.

Hydra reinsures each Club in respect of that Club's liabilities within the Pool and reinsurance layers in which it participates. Hydra is a Bermuda incorporated Segregated Accounts company in which each of the 13 Group Clubs has its own segregated account (or вЂњcellвЂќ) ring fencing its assets and liabilities from those of the company or any of the other Club cells. Excess of US $30 million, the Pool is reinsured by the Group captive reinsurance vehicle, Hydra Insurance Company Limited. The Pool is structured in three layers from US $10 million to US $100 million. The structure of the GroupвЂ™s claims-sharing arrangements (the вЂњPoolвЂќ) and the commercial market and captive (Hydra) reinsurance arrangements for the 2022/23 policy year are depicted in the diagram below. 2022/23 Pool and GXL Reinsurance contract structure