Common use of Claims Handling Clause in Contracts

Claims Handling. 16.1 The Managing General Agent shall have authority to settle all claims arising from business placed with the Company under this Agreement in accordance with established Company procedures. At the sole option of the Company, the Company may assume any or all of this responsibility. 16.2 The authority of the Managing General Agent to settle claims shall not exceed $30,000 per claim without consent of the Company. The Company retains authority over disputes concerning claims settlement and setting of loss reserves.

Claims Handling. 16.1 The Managing General Agent shall have authority to settle all claims arising from business placed with the Company under this Agreement in accordance with established Company procedures. At the sole option of the Company, the Company may assume any or all of this responsibility. 16.2 The authority of the Managing General Agent to settle claims shall not exceed $30,000 per claim without notification to and consent of the Company. The Company retains authority over disputes concerning claims settlement and setting of loss reserves.

Claims Handling. 16.1 The Managing General Agent shall have authority to settle all claims arising from business placed with the Company under this Agreement in accordance with established Company procedures. At the sole option of the Company, the Company may assume any or all of this responsibilityresponsibility at its own expense. 16.2 The authority of the Managing General Agent to settle claims shall not exceed $30,000 per claim without notification to and consent of the Company. The Company retains final authority over disputes concerning claims settlement and setting of loss reserves, (required by TAC re MGA).