Accounting and Reporting Procedures. Manager shall:
11.1 Within thirty (30) days after the end of each month, remit to Company all premiums collected on Policies issued under the terms of this Agreement, less the commission due to Manager in accordance with Exhibit A attached hereto. Manager may not offset balances due to Company hereunder against balances due Manager under any other contract with Company;
11.2 On behalf of Company supply accounting, underwriting, and claim bordereaux with copies to Company, pursuant to their terms and conditions;
11.3 With regard to business placed by Manager with Company hereunder, furnish to Company, in electronic format, within thirty (30) days after the end of each month a report of written, earned, and unearned premiums; losses and loss adjustment expenses paid and outstanding; loss and loss adjustment expenses incurred; commissions earned by Manager;
11.4 Provide detail and summary reports, in an electronic or printed medium, as are required to meet all reporting requirements of state regulatory or taxation authorities, their managers for data collection, and advisory organizations including but not limited to:
a. Within thirty (30) days of the close of the calendar quarter: direct premiums (written and earned); in force premiums; policy counts (written and in force); direct losses and loss adjustment expenses including subrogation (paid and reserved); number of claims open, closed with payment, and closed without payment; as prescribed by state regulatory authorities.
b. Within thirty (30) days of the close of the calendar quarter: direct written premium, losses, and loss adjustment expense including subrogation (paid and reserved) transaction data as prescribed by advisory organizations providing loss cost and policy forms.
c. Thirty (30) days prior to the prescribed deadline: the reports of direct premiums (written and earned), losses, and loss adjustment expenses including salvage and subrogation (paid and reserved) as required by state regulatory data collection agents, including but not limited to financial calls, unit statistical data, summary statistical data, and detailed claim information for National Council on Compensation Insurance (NCCI), Insurance Services Office (ISO), and National Association of Independent Insurers (NAII), and various state-specific reporting requirements as necessary.
11.5 By the first business day of February of each year, Manager shall provide Company with any information Company may require in order to complete it...
Accounting and Reporting Procedures. Agent shall:
7.1 Within thirty (30) days after the end of each month, remit to Company the policy-issuing fee and deposit for taxes, fees, and assessments, in accordance with Section 4.1.10, on all Policies issued under the terms of this Agreement. Agent may not offset balances due to Company hereunder against balances due Agent under any other contract with Company;
7.2 On behalf of Company supply accounting, underwriting, and claim bordereaux and pay the reinsurance premium to and make collections from the Reinsurance Agreements, with copies to Company, pursuant to their terms and conditions;
7.3 With regard to business placed by Agent with Company hereunder, furnish to Company, in electronic format:
7.3.1 Within 30 days after the end of each month: (i) a bank statement and bank reconciliation report for the accounts as described in Section 4.1.15 and Section 5.4; and (ii) a report of: written, earned, and unearned premiums; losses and loss adjustment expenses paid and outstanding; loss and loss adjustment expenses incurred; commissions earned by Agent; Reinsurance Agreements earned and unearned premiums, commissions, and losses (including losses and loss adjustment expenses paid and outstanding) ceded; all of the foregoing in the following format: (a) monthly transactions; (b) inception-to-date statutory amounts, by state, by line of business; (c) inception-to-date amounts actually transacted, by state, by line of business; and (d) such other information as may be reasonably requested by Company, which information Company shall maintain on file and shall make available to insurance regulatory authorities for review;
7.3.2 Provide detail and summary reports, in an electronic or printed medium, as are required to meet all reporting requirements of state regulatory or taxation authorities, their agents for data collection, and advisory organizations including but not limited to:
a. Within 30 days of the close of the calendar quarter: direct premiums (written and earned); in force premiums; policy counts (written and in force); direct losses and loss adjustment expenses including subrogation (paid and reserved); number of claims open, closed with payment, and closed without payment; as prescribed by state regulatory authorities.
b. Within 30 days of the close of the calendar quarter: direct written premium, losses, and loss adjustment expense including subrogation (paid and reserved) transaction data as prescribed by advisory organizations providing loss co...
Accounting and Reporting Procedures. Agent shall:
7.1 Within thirty (30) days after the end of each month, remit to Company the policy-issuing fee in accordance with Section 4.1.9. on all Policies issued under the terms of this Agreement. Agent may not offset balances due to Company hereunder against balances due Agent under any other contract with Company.;
7.2 On behalf of the Company supply accounting, underwriting and claim bordereaux and pay the reinsurance premium to and make collections from the Quota Share pursuant to its terms and conditions;
7.3 With regard to business placed by Agent with Company hereunder, furnish to Company in hard copy form:
7.3.1 Within thirty (30) days after the end of each month, a bank statement and bank reconciliation report for the claims paying checking account described in Section 5.4 and a report of written, collected, earned and unearned premiums; losses and loss adjustment expenses paid and outstanding; loss and loss adjustment expenses incurred; commissions earned by Agent; Quota Share earned and unearned premiums, commissions and losses (including losses and loss adjustment expenses paid and outstanding, loss and loss adjustment expenses incurred) ceded; and such other information as may be reasonably requested by Company, which information Company shall maintain on file and shall make available to insurance regulatory authorities for review;
7.3.2 provide detail and summary reports, in a electronic or printed medium, as are required to meet all reporting
Accounting and Reporting Procedures
