Common use of Experience Review Clause in Contracts

Experience Review. The Committee will also meet as required to review the financial experience under the Plans. The specifications for tender will describe the information to be included in the financial statements to be prepared by the insurance carrier(s). These statements will include paid premiums, paid claims, changes in reserve requirements for open and for unreported claims, incurred claims, the retention elements of commissions, taxes, administrative expenses, contingency reserve charges and interest credits on claims and other reserves. The Committee shall request the insurance carrier(s) to provide such additional information as may be necessary.

Experience Review. The Committee will Committeewill also meet as required to review the requiredtoreviewthe financial experience under the Plansplans. The specifications for specificationsfor tender will describe the information to be included in the financial statements to be prepared pre- pared by the insurance carrier(s). These statements will include paid premiums, paid claims, changes in reserve requirements for open and for unreported claims, incurred claimsincurredclaims, the retention elements of commissions, taxes, administrative expensesadmi- nistrativeexpenses, contingency reserve charges and interest credits reservechargesand interestcredits on claims claim and other reserves. The Committee shall request the insurance carrier(s) insur- ance to provide such additional information as may be necessary.