Common use of Administration and Servicing Clause in Contracts

Administration and Servicing. At and after the Effective Time, Reinsurer will provide or arrange for (including through receipt of services from Ceding Company for a transition period) all Administrative Services for the Business and supply to Ceding Company copies of accounting and other records pertaining to such services as Ceding Company may from time to time reasonably request. Such services will include but not be limited to the following: (a) billing and collection of Premiums; (b) payment of claims; (c) payment of any refunds of Premiums; (d) handling of normal Policyholder requests under the Reinsured Policies; (e) preparation of monthly, quarterly and annual financial statement data, where applicable, for inclusion in Ceding Company's financial statements; (f) administration of the Other Agreements; (g) preparation, processing and filing of any agent appointments; (h) underwriting and issuing of any New Policies on behalf of Ceding Company; and (i) renewal of any Existing Policies or New Policies on behalf of Ceding Company. Reinsurer will perform all Administrative Services in a manner that is consistent with the terms of the Reinsured Policies and the Other Agreements (as the case may be), the current practice of reinsurance with respect to its business, and in a reasonable manner consistent with industry standards for the administration of dental, life, accident and health insurance and in accordance in all material respects with all applicable laws and regulations.

Administration and Servicing. At and after the Effective Time, Reinsurer will provide or arrange for (including through receipt of services from Ceding Company for a transition period) all Administrative Services for the Business and supply to Ceding Company copies of accounting and other records pertaining to such services as Ceding Company may from time to time reasonably request. Such services will include but not be limited to the following: (a) billing and collection of Premiums; (b) payment of claims; (c) payment of any refunds of Premiums; (d) handling of normal Policyholder requests under the Reinsured Policies; (e) preparation of monthly, quarterly and annual financial statement data, where applicable, for inclusion in Ceding Company's financial statements; (f) administration of the Other Agreements; (g) preparation, processing and filing of any agent appointments; (h) underwriting and issuing of any New Policies on behalf of Ceding Company; and (i) renewal of any Existing Policies or New Policies on behalf of Ceding Company. Reinsurer will perform all Administrative Services in a manner that is consistent with the terms of the Reinsured Policies and the Other Agreements (as the case may be), the current practice of reinsurance with respect to its business, and in a reasonable manner consistent with industry standards for the administration of dental, life, accident and health insurance and in accordance in all material respects with all applicable laws and regulations, and in accordance with other standards mutually agreed to by the parties. The parties acknowledge that Ceding Company has the ultimate authority to make decisions regarding servicing of the Reinsured Policies in accordance with applicable New York insurance laws and regulations. The parties will make it clear to the Policyholders that the Administrative Services are being performed by Reinsurer as administrator for Ceding Company, in accordance with applicable New York insurance laws and regulations.