Common use of CLAIM SETTLEMENTS Clause in Contracts

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. 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 SWISS RE to opt out of contested claims, claim settlements made by PRUCO, including compromises, shall be unconditionally binding on ANNUITY & LIFE SWISS RE. ANNUITY & LIFE SWISS RE will share in any reduced amount in proportion to its share of the liability.