Common use of ADMINISTRATION AND CLAIM PAYMENTS Clause in Contracts

ADMINISTRATION AND CLAIM PAYMENTS. A. From and after the Effective Date, the Reinsurer will be solely liable for the administration and disposition of all aspects of the Reinsured Claims assumed by the Reinsurer including, without limitation, the defense, adjustment, settlement, and payment of all losses and expenses arising under or relating to the Reinsured Claims. The GSIA hereby grants and assigns to the Reinsurer full authority to administer such losses, claims, expenses, defenses, adjustments, settlements, and payments, and such matters will be under the Reinsurer's control and within its discretion. The Reinsurer will bear all expenses and costs incurred by it in connection with the administration and disposition of such losses, claims, expenses, defenses, adjustments, settlements, and payments.