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.
Appears in 2 contracts
Samples: Reinsurance Agreement (Pruco Life Variable Universal Account), Reinsurance Agreement (Pruco Life Variable Universal Account)
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.
Appears in 2 contracts
Samples: Yearly Renewable Term Reinsurance Agreement (Pruco Life Variable Universal Account), Reinsurance Agreement (Pruco Life Variable Universal Account)
