CLAIM SETTLEMENTS. THE REINSURER agrees that THE COMPANY will use its standard claim practices and guidelines in the adjudication of all claims on policies reinsured under this Agreement. THE REINSURER has the right to inspect, at the COMPANY's offices, the COMPANY's written claims practices and guidelines. Once THE REINSURER has been notified of a contestable claim in accordance with subsection a. of this ‘CLAIMS’ section, THE REINSURER will have two business days to review the information and offer advice to THE COMPANY as to whether the claim should be paid or denied. If there is a disagreement between THE COMPANY and THE REINSURER as to whether THE COMPANY should pay or deny the claim, THE COMPANY will make a reasonable effort to secure mutual agreement between the parties. Any advice offered by THE REINSURER will not be binding on THE COMPANY. THE COMPANY will advise THE REINSURER of any intention to contest a claim involving a policy reinsured hereunder and provide THE REINSURER with copies of all relevant documents. THE REINSURER may choose not to participate in the contest of a contestable claim. THE REINSURER will have 10 business days to communicate its decision whether to participate in the contested claim. If THE REINSURER chooses not to participate, it will discharge its liability by immediately paying to THE COMPANY the full amount of THE REINSURER’s liability on the portion of the policy reinsured under this Agreement, regardless of any subsequent outcome of such contest.
CLAIM SETTLEMENTS. THE REINSURER agrees that THE COMPANY will use its standard claim practices and guidelines in the adjudication of all claims on policies reinsured under this Agreement. THE REINSURER has the right to inspect, at the COMPANY's offices, the COMPANY's written claims practices and guidelines. THE COMPANY will notify THE REINSURER of any material changes in its claim practices and procedures, other than those required by State or Federal law, thirty (30) days prior to their first use. THE COMPANY will advise THE REINSURER of any intention to contest a claim involving a policy reinsured hereunder and provide THE REINSURER with copies of all relevant documents. THE REINSURER may choose not to participate in the contest of a contestable claim. THE REINSURER will have 10 business days from the date of receipt of the complete set of contestable documents to communicate its decision whether to participate in the contested claim. If THE REINSURER chooses not to participate, it will discharge its liability by immediately paying to THE COMPANY the full amount of THE REINSURER’s liability on the portion of the policy reinsured under this Agreement, regardless of any subsequent outcome of such contest.
CLAIM SETTLEMENTS. PRUCO will use its standard claim practice and guidelines in the adjudication of all claims on policies reinsured under this Agreement. Until such time as PRUCO has systems capability to administer the right of ANNUITY & LIFE RE to opt out of contested claims, claim settlements made by PRUCO, including compromises, shall be unconditionally binding on ANNUITY & LIFE RE. ANNUITY & LIFE RE will share in any reduced amount in proportion to its share of the liability.
CLAIM SETTLEMENTS. THE REINSURER agrees that THE COMPANY will use its standard claim practices and guidelines in the adjudication of all claims on policies reinsured under this Agreement. THE REINSURER has the right to inspect, at the COMPANY's offices, the COMPANY's written claims practices and guidelines. THE COMPANY will promptly notify the REINSURER of its intention to contest, compromise, or litigate a claim involving a reinsured policy. THE COMPANY will also promptly and fully disclose all information relative to the claim. Once notified, the REINSURER will have two business days to notify THE COMPANY in writing of its decision to accept participation in the contest, compromise, or litigation. If the REINSURER has accepted participation, THE COMPANY will promptly advise the REINSURER of all significant developments in the claim investigation, including notification of the initiation of any legal proceedings against THE COMPANY in response to denial of the claim. If the REINSURER does not accept participation, the REINSURER will then fulfill its obligation by paying THE COMPANY its full share of reinsurance, and will not share in any subsequent reduction or increase in liability.
CLAIM SETTLEMENTS. PRUCO OF NJ will use its standard claim practice and guidelines in the adjudication of all claims on policies reinsured under this Agreement. Until such time as PRUCO OF NJ has systems capability to administer the right of AUSA to opt out of contested claims, claim settlements made by PRUCO OF NJ, including compromises, shall be unconditionally binding on AUSA. AUSA will share in any reduced amount in proportion to its share of the liability.
CLAIM SETTLEMENTS. All benefit payments or claim settlements made by the Company, directly or through the Third Party Administrator, if any, shall be binding upon the Reinsurer, provided, however, that such benefit payments or claim settlements are within the terms, conditions and limitations of the Reinsured Policies and within the terms, conditions and limitations of this Agreement.
CLAIM SETTLEMENTS. PRUCO will use its standard claim practice and guidelines in the adjudication of all claims on policies reinsured under this Agreement. Until such time as PRUCO has systems capability to administer the right of AUSA to opt out of contested claims, claim settlements made by PRUCO, including compromises, shall be unconditionally binding on AUSA. AUSA will share in any reduced amount in proportion to its share of the liability.
CLAIM SETTLEMENTS. THE REINSURER agrees that THE COMPANY will use its standard claim practices and guidelines in the adjudication of all claims on policies reinsured under this Agreement. THE REINSURER has the right to inspect, at the COMPANY's Y-PS3-2002-MARC-PLAZ-3 offices, the COMPANY's written claims practices and guidelines. Once THE REINSURER has been notified of a contestable claim in accordance with subsection a. above, it will have ten business days to review the information and provide its opinion as to whether or not the reinsurance claim is payable. THE COMPANY will advise THE REINSURER of any intention to contest a claim involving a policy reinsured hereunder and provide THE REINSURER with copies of all relevant documents. THE REINSURER may choose not to participate in the contest of a Contestable Claim. THE REINSURER will have 10 business days to communicate its decision to THE COMPANY. If THE REINSURER chooses not to participate, it will discharge its liability by immediately paying to THE COMPANY the full amount of THE REINSURER’s liability on the portion of the policy reinsured under this Agreement, regardless of any subsequent outcome of such contest.
CLAIM SETTLEMENTS. PRUCO OF NJ will use its standard claim practice and guidelines in the adjudication of all claims on policies reinsured under this Agreement. Until such time as PRUCO OF NJ has systems capability to administer the right of SWISS RE to opt out of contested claims, claim settlements made by PRUCO OF NJ, including compromises, shall be unconditionally binding on SWISS RE. SWISS RE will share in any reduced amount in proportion to its share of the liability.
CLAIM SETTLEMENTS. THE REINSURER agrees that THE COMPANY will use its standard claim practices and guidelines in the adjudication of all claims on policies reinsured under this Agreement. THE REINSURER has the right to inspect, at the COMPANY's offices, the COMPANY's written claims practices and guidelines. Y-UL/VUL II – 2005 – RGA - PICA THE COMPANY will advise THE REINSURER of any intention to contest a claim involving a policy reinsured hereunder and provide THE REINSURER with copies of all relevant documents. THE COMPANY shall also provide THE REINSURER prompt notice of any legal proceedings initiated against THE COMPANY in response to its contest of a claim on a policy reinsured under this Agreement. THE REINSURER may choose not to participate in the contest of a Contestable Claim. THE REINSURER will have 10 business days to communicate its decision whether to participate in the contested claim. If THE REINSURER chooses not to participate, it will discharge its liability by immediately paying to THE COMPANY the full amount of THE REINSURER’s liability on the portion of the policy reinsured under this Agreement, regardless of any subsequent outcome of such contest.
