Common use of Contingent Compensation Clause in Contracts

Contingent Compensation. Gallagher Re may accept certain forms of contingent compensation in relation to insurance, but not treaty reinsurance, placements in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. The terms of placement of your reinsurance should not be affected. For certain classes of reinsurance you may be required to complete a proposal form or similar document. We will provide guidance but we are not able to complete the document for you. Our objective is to obtain the best product we can identify in order to meet your reinsurance needs. In order to make our business relationship work, you must provide complete and accurate information and instructions in a timely manner, so that we can assist you fully. Please remember that it is your duty to fully disclose all material facts and circumstances and to provide such information in a clear and complete manner that a diligent reinsurer can understand. This disclosure obligation affects both the extension or modification of your contracts and the conclusion of new reinsurance contracts. You must also answer all reinsurer questions honestly and completely. A factor or circumstance is material if it could influence the judgment of a prudent reinsurer in determining premium and whether or not they would underwrite the risk. Therefore, all information which is material to your coverage requirements or which might influence reinsurers in deciding to accept your business, finalising the terms to apply and/or the cost of cover must be disclosed. Failure to make full disclosure of material facts allows reinsurers to avoid liability for a particular claim or to void the contract. This duty of disclosure applies equally at renewal of your contracts and on taking out new reinsurance contracts. We will not be responsible for any consequences which may arise from any delayed, inaccurate or incomplete information. Please discuss with us if you have any doubts about what is material or have any concerns that we may not have material information, or have any doubt about what the applicable duty of disclosure is. We will work on the assumption that you have full authority to supply us with all such information in the manner and for the purposes contemplated by this Agreement, but you should advise us immediately should that not be the case.

Contingent Compensation. Gallagher Re Xxxxxx Limited may accept certain forms of contingent compensation in relation to insurance, but not treaty reinsurance, placements in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. The terms of placement of your reinsurance should not be affected. The Foreign Account Tax Compliance Act (FATCA) is a U.S. law aimed at foreign financial institutions and other financial intermediaries (including reinsurance companies and intermediaries such as brokers) to prevent tax evasion by U.S. citizens and residents through offshore accounts. In order to comply with FATCA, reinsurance companies and intermediaries must meet certain legal requirements. Reinsurance placed with a reinsurance company that is not FATCA compliant may result in a 30% withholding tax on your premium. Where FATCA is applicable to you, in order to avoid this withholding tax, Xxxxxx Re will only place your reinsurance with FATCA-compliant reinsurers and intermediaries for which no withholding is required unless you instruct us to do otherwise and provide your advance written authorization to do so. If you do instruct Xxxxxx Re to place your reinsurance with a non-FATCA compliant reinsurer or intermediary, you may have to pay an additional amount equivalent to 30% of the premium covering U.S. - sourced risks to cover the withholding tax. If you instruct us to place your reinsurance with a non-FATCA compliant reinsurer but you do not agree to pay the additional 30% withholding if required, we will not place your reinsurance with such reinsurer. Please consult your tax adviser for full details of FATCA. For certain classes of reinsurance you may be required to complete a proposal form or similar document. We will provide guidance but we are not able to complete the document for you. Our objective is to obtain the best product we can identify in order to meet your reinsurance needs. In order to make our business relationship work, you must provide complete and accurate information and instructions in a timely manner, so that we can assist you fully. Please remember bear in mind that it there is your no duty on reinsurers to make enquiries of you. Indeed, you are under a duty to fully disclose make full disclosure of all material facts and circumstances fully and frankly respond to provide such any requests for information in a clear and complete manner that a diligent reinsurer can understand. This disclosure obligation affects both the extension or modification of your contracts and the conclusion of new reinsurance contracts. You must also answer all reinsurer questions honestly and completelymade by reinsurers. A factor or circumstance is material if it could would influence the judgment of a prudent reinsurer in determining premium and whether or not they would underwrite the risk. Therefore, all information which is material to your coverage requirements or which might influence reinsurers in deciding to accept your business, finalising the terms to apply and/or the cost of cover must be disclosed. Failure to make full disclosure of material facts allows reinsurers to avoid liability for a particular claim or to void the contract. This duty of disclosure applies equally at renewal of your contracts and on taking out new reinsurance contracts. We will not be responsible for any consequences which may arise from any delayed, inaccurate or incomplete information. Please discuss with us if you have any doubts about what is material or have any concerns that we may not have material information, or have any doubt about what the applicable duty of disclosure is. We will work on the assumption that you have full authority to supply us with all such information in the manner and for the purposes contemplated by this Agreement, but you should advise us immediately should that not be the case.

Contingent Compensation. Gallagher Xxxxxxxxx Re may accept certain forms of contingent compensation in relation to insurance, but not treaty reinsurance, placements in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. The terms of placement of your reinsurance should not be affected. For certain classes of reinsurance you may be required to complete a proposal form or similar document. We will provide guidance but we are not able to complete the document for you. Our objective is to obtain the best product we can identify in order to meet your reinsurance needs. In order to make our business relationship work, you must provide complete and accurate information and instructions in a timely manner, so that we can assist you fully. Please remember that it is your duty to fully disclose all material facts and circumstances and to provide such information in a clear and complete manner that a diligent reinsurer can understand. This disclosure obligation affects both the extension or modification of your contracts and the conclusion of new reinsurance contracts. You must also answer all reinsurer questions honestly and completely. A factor or circumstance is material if it could influence the judgment of a prudent reinsurer in determining premium and whether or not they would underwrite the risk. Therefore, all information which is material to your coverage requirements or which might influence reinsurers in deciding to accept your business, finalising the terms to apply and/or the cost of cover must be disclosed. Failure to make full disclosure of material facts allows reinsurers to avoid liability for a particular claim or to void the contract. This duty of disclosure applies equally at renewal of your contracts and on taking out new reinsurance contracts. We will not be responsible for any consequences which may arise from any delayed, inaccurate or incomplete information. Please discuss with us if you have any doubts about what is material or have any concerns that we may not have material information, or have any doubt about what the applicable duty of disclosure is. We will work on the assumption that you have full authority to supply us with all such information in the manner and for the purposes contemplated by this Agreement, but you should advise us immediately should that not be the case.

Contingent Compensation. Gallagher Re We may accept certain forms of contingent compensation in relation to insurance, but not treaty reinsurance, placements in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. The terms of placement of your treaty reinsurance should not be affected. For certain classes of reinsurance you may be Your Obligations You are required to complete make a proposal form fair presentation of the risk to a reinsurer which discloses every material circumstance which you know or similar documentought to know relating to the risk to be reinsured. We will provide guidance but we are not able This includes information known by your senior management and those responsible for arranging your reinsurance as well as information which would reasonably have been revealed by a reasonable search of information available to complete the document for you. Our objective is to obtain the best product we can identify in order to meet your reinsurance needs. In order to make our business relationship work, you must provide complete and accurate information and instructions in a timely manner, so that we can assist you fully. Please remember that it is your duty to fully disclose all material facts and circumstances and to provide such information in a clear and complete manner that a diligent reinsurer can understand. This disclosure obligation affects both the extension or modification of your contracts and the conclusion of new reinsurance contracts. You must also answer all reinsurer questions honestly and completely. A factor or circumstance is material if it could would influence the judgment of a prudent reinsurer in determining premium and whether or not they would underwrite to provide reinsurance for the riskrisk and, if so, on what terms. Therefore, all information which is material to your coverage requirements or which might influence reinsurers in deciding to accept your business, finalising the terms to apply and/or the cost of cover Disclosure must be disclosedreasonably clear and accessible to a prudent reinsurer. Material representations of fact must be substantially correct and material representations of expectation/belief must be made in good faith. Failure to make full disclosure comply with the duty of material facts allows fair presentation could mean that your policy of reinsurance is void or that reinsurers are not liable to avoid liability for a particular claim pay all or to void the contractpart of your claim(s). This The above duty of disclosure applies equally at renewal is the applicable duty under the laws of England, Wales, Scotland and Northern Ireland. You may have different obligations if your contracts policy of reinsurance is subject to a different law. As a minimum, we expect you to disclose your information in accordance with the duty set out above. For certain types of reinsurance covers you may be required to complete and sign a proposal form or questionnaire. Take care to ensure that the information you provide is complete and accurate. Note that if you are aware of anything that you feel may be material to the proposed policy of reinsurance you should disclose it, even if there does not appear to be a question on taking out new reinsurance contractsthe proposal form or questionnaire that covers the particular point. We will not be responsible for If you are in any consequences which may arise from any delayeddoubt as to whether information is material, inaccurate or incomplete informationyou should disclose it. Please discuss with us if Choice of Reinsurers If you have any doubts about what is material or have concerns with any concerns that we may not have material information, or have any doubt about what the applicable duty of disclosure is. We will work on the assumption that reinsurers chosen for your reinsurance requirements you have full authority to supply us with all such information in the manner and for the purposes contemplated by this Agreement, but you should must advise us immediately should as soon as possible. Your Reinsurance Contract You will receive written terms and conditions of any reinsurance policy we arrange for you. Please check these documents and advise us as soon as reasonably practicable if the terms of the cover arranged are not in accordance with your requirements. Please pay special attention to the claims notification provisions and to any warranties and conditions (including as to the payment of premium) as any failure to comply with these terms may invalidate your cover. Change in circumstances You must advise us as soon as reasonably practicable of any changes in your circumstances that not may affect the services to be provided by us or the case.cover provided under your reinsurance contract. SECTION B – CLIENT MONEY SERVICES Interpretation of Section B In this Section B, references to “we”, “us” and “our” mean Xxxxxx Limited Services and Disclosure

Contingent Compensation. Gallagher Xxxxxx Re may accept certain forms of contingent compensation in relation to insurance, but not treaty reinsurance, placements in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. The terms of placement of your reinsurance should not be affected. The Foreign Account Tax Compliance Act (FATCA) is a U.S. law aimed at foreign financial institutions and other financial intermediaries (including reinsurance companies and intermediaries such as brokers) to prevent tax evasion by U.S. citizens and residents through offshore accounts. In order to comply with FATCA, reinsurance companies and intermediaries must meet certain legal requirements. Reinsurance placed with a reinsurance company that is not FATCA compliant may result in a 30% withholding tax on your premium. Where FATCA is applicable to you, in order to avoid this withholding tax, Xxxxxx Re will only place your reinsurance with FATCA-compliant reinsurers and intermediaries for which no withholding is required unless you instruct us to do otherwise and provide your advance written authorization to do so. If you do instruct Xxxxxx Re to place your reinsurance with a non-FATCA compliant reinsurer or intermediary, you may have to pay an additional amount equivalent to 30% of the premium covering U.S. - sourced risks to cover the withholding tax. If you instruct us to place your reinsurance with a non-FATCA compliant reinsurer but you do not agree to pay the additional 30% withholding if required, we will not place your reinsurance with such reinsurer. Please consult your tax adviser for full details of FATCA. For certain classes of reinsurance you may be required to complete a proposal form or similar document. We will provide guidance but we are not able to complete the document for you. Our objective is to obtain the best product we can identify in order to meet your reinsurance needs. In order to make our business relationship work, you must provide complete and accurate information and instructions in a timely manner, so that we can assist you fully. Please remember bear in mind that it there is your no duty on reinsurers to make enquiries of you. Indeed, you are under a duty to fully disclose make full disclosure of all material facts and circumstances fully and frankly respond to provide such any requests for information in a clear and complete manner that a diligent reinsurer can understand. This disclosure obligation affects both the extension or modification of your contracts and the conclusion of new reinsurance contracts. You must also answer all reinsurer questions honestly and completelymade by reinsurers. A factor or circumstance is material if it could would influence the judgment of a prudent reinsurer in determining premium and whether or not they would underwrite the risk. Therefore, all information which is material to your coverage requirements or which might influence reinsurers in deciding to accept your business, finalising the terms to apply and/or the cost of cover must be disclosed. Failure to make full disclosure of material facts allows reinsurers to avoid liability for a particular claim or to void the contract. This duty of disclosure applies equally at renewal of your contracts and on taking out new reinsurance contracts. We will not be responsible for any consequences which may arise from any delayed, inaccurate or incomplete information. Please discuss with us if you have any doubts about what is material or have any concerns that we may not have material information, or have any doubt about what the applicable duty of disclosure is. We will work on the assumption that you have full authority to supply us with all such information in the manner and for the purposes contemplated by this Agreement, but you should advise us immediately should that not be the case.

Contingent Compensation. Gallagher Re Companies may accept certain forms of contingent compensation in relation to insurance, but not treaty reinsurance, placements in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. The terms of placement of your treaty reinsurance should not be affected. For certain classes of reinsurance you may be required to complete a proposal form or similar document. We will provide guidance but we are not able to complete the document for you. Our objective is to obtain the best product we can identify in order to meet your reinsurance needs. In order to make our business relationship work, you must provide complete and accurate information and instructions in a timely manner, so that we can assist you fully. Please remember bear in mind that it is your you are under a duty to fully disclose make full disclosure of all material facts and circumstances and to provide such information make that disclosure in a manner that would be reasonably clear and complete manner that accessible to a diligent reinsurer can understandprudent reinsurer. This disclosure obligation affects both duty applies equally at placement, renewal, alterations and where the extension or modification of your contracts and the conclusion of new reinsurance contractscontract conditions so stipulate. You must also answer all reinsurer questions honestly fully and completelyfrankly respond to any requests for information made by reinsurers. A factor or circumstance is material if it could would influence the judgment of a prudent reinsurer in determining premium and deciding whether or not they would to underwrite the risk. Thereforerisk and if so, all information which is material to your coverage requirements or which might influence reinsurers in deciding to accept your business, finalising the terms to apply and/or the cost of cover must be disclosedat what premium and on what terms. Failure to make full disclosure of material facts allows discharge this duty may allow reinsurers to avoid liability for the policy (i.e. treat it as if it had never existed) or amend the terms that apply which may lead to a particular claim being refused or to void a reduction in the contract. This duty amount paid in the event of disclosure applies equally at renewal of your contracts and on taking out new reinsurance contractsa claim. We will not be responsible for any consequences which may arise from any delayed, inaccurate or incomplete information, or any misrepresentation made by you. Please discuss with us if you have any doubts about what is material or have any concerns that we may not have material information, or have any doubt about what the applicable duty of disclosure is. We will work on the assumption that you have full authority to supply us with all such information in the manner and for the purposes contemplated by this Agreement, but you should advise us immediately should that not be the case.

Contingent Compensation. Gallagher Re Xxxxxx Limited may accept certain forms of contingent compensation in relation to insurance, but not treaty reinsurance, placements in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. The terms of placement of your reinsurance should not be affected. For certain classes of reinsurance you may be required to complete a proposal form or similar document. We will provide guidance but we are not able to complete the document for you. Disclosure of information‌ Our objective is to obtain the best product we can identify in order to meet your reinsurance needs. In order to make our business relationship work, you must provide complete and accurate information and instructions in a timely manner, so that we can assist you fully. Please remember bear in mind that it there is your no duty on reinsurers to make enquiries of you. Indeed, you are under a duty to fully disclose make full disclosure of all material facts and circumstances fully and frankly respond to provide such any requests for information in a clear and complete manner that a diligent reinsurer can understand. This disclosure obligation affects both the extension or modification of your contracts and the conclusion of new reinsurance contracts. You must also answer all reinsurer questions honestly and completelymade by reinsurers. A factor or circumstance is material if it could would influence the judgment of a prudent reinsurer in determining premium and whether or not they would underwrite the risk. Therefore, all information which is material to your coverage requirements or which might influence reinsurers in deciding to accept your business, finalising the terms to apply and/or the cost of cover must be disclosed. Failure to make full disclosure of material facts allows reinsurers to avoid liability for a particular claim or to void the contract. This duty of disclosure applies equally at renewal of your contracts and on taking out new reinsurance contracts. We will not be responsible for any consequences which may arise from any delayed, inaccurate or incomplete information. Please discuss with us if you have any doubts about what is material or have any concerns that we may not have material information, or have any doubt about what the applicable duty of disclosure is. We will work on the assumption that you have full authority to supply us with all such information in the manner and for the purposes contemplated by this Agreement, but you should advise us immediately should that not be the case.