Insurance Agents Sample Clauses
The 'Insurance Agents' clause defines the roles, responsibilities, and limitations of insurance agents involved in the agreement. It typically clarifies whether agents are authorized to act on behalf of the insurer or the insured, and may specify the extent of their authority to bind coverage, collect premiums, or provide information. For example, the clause might state that only agents with written authorization can modify policy terms or that agents cannot waive policy conditions. This clause ensures clarity regarding the legal relationship between the parties and the agent, helping to prevent misunderstandings or disputes about the agent's authority and the validity of actions taken by agents.
Insurance Agents. Schedule 3.18 contains, to Sellers' Knowledge, true, complete and accurate information as of the date of this Agreement regarding all Agents including their names, addresses, telephone numbers, electronic mail addresses and gross premiums written for or on behalf of Sellers by line of business for each of 1999, 2000 and 2001. Since January 1, 2001, no Agents have terminated any agency contract or other agreement with Sellers, cancelled or relinquished their appointment by IGF, given Sellers notice of their intent to terminate any of their contracts or other agreements with any of Sellers or Sellers' Affiliates, materially breached any contract or other agreement with Sellers or taken any action which would, with the passage of time, result in termination of any of the Agent's contracts or other agreements with any of Sellers or Sellers' Affiliates except as set forth in Schedule 3.18. Except as set forth in Schedule 3.18, each Agent who produced any portion of the 2001 MPCI Premium recorded in the Database prior to the date of this Agreement was duly appointed by IGF and, to Sellers' Knowledge, held all licenses required in the states in which such 2001 MPCI Premium was produced.
Insurance Agents of the Seller Disclosure Memorandum contains a complete and correct list of all insurance agencies and agents authorized to write insurance on behalf of American Southern or American Safety as of the date shown on such list. To the Knowledge of Seller, all such agencies and agents are duly licensed with the insurance regulatory authority of the state or jurisdiction in which such agency or agent writes insurance on behalf of American Southern or American Safety.
Insurance Agents. 12 3.18 Title to Assets; Material Contracts . . . . . . . . . . . . . . . . . . . 12 3.19
Insurance Agents. (1) Each person acting as an insurance agent or broker on behalf of Subsidiary (an “Insurance Agent”), to the extent required by applicable Law or the terms of any Contract, is duly appointed by Subsidiary to act as an insurance agent on behalf of Subsidiary.
(2) To the Knowledge of Seller, each Insurance Agent holds and maintains in full force and effect all Permits required to sell, market or solicit the insurance and financial services products of the Bank Entities sold in the jurisdictions in which such Insurance Agent sells, markets or solicits such insurance and financial services products of the Bank Entities.
Insurance Agents. Section 2.23.2 of the Seller's Disclosure Schedule sets forth (a) all insurance agents and other producers with respect to the Reinsured Policies, and (b) identifies each such agent or producer having an Agent Debit Balance and the nature and amount of such Agent Debit Balance.
Insurance Agents. To the Knowledge of the Company, each Agent that wrote, sold, produced, managed or marketed Policies for any Company Insurance Subsidiary have, since January 1, 2017, issued, sold, produced, managed and marketed such Policies in compliance with applicable Laws in the respective jurisdictions in which such products have been sold, except as would not constitute a Material Adverse Effect. To the Knowledge of the Company, each such Agent (a) was duly licensed as required by Law in the particular jurisdiction in which such Agent wrote, sold, produced, managed or marketed such Policies (for the type of business wrote, sold, produced, managed or marketed on behalf of the Company Insurance Subsidiary) except for such failures to be licensed which have been cured, which have been resolved or settled through agreements with applicable Governmental Authorities, which are barred by an applicable statute of limitations or which would not constitute a Material Adverse Effect, and (b) if required by applicable Law, was duly appointed by the applicable Company Insurance Subsidiary, except as would not constitute a Material Adverse Effect.
Insurance Agents. (a) To the Knowledge of Sellers, as of the date hereof, all Persons properly appointed by the Insurance Companies and required to be licensed by a Governmental Authority who submitted to the Insurance Companies one or more applications for insurance written as part of the Transferred Business (each, an “Insurance Agent”), at the time such Insurance Agent wrote, sold, produced or managed such business, was duly licensed as required by Law (for the type of business written, sold, produced or managed on behalf of the Insurance Companies). The Insurance Companies have written procedures designed to provide assurance that Insurance Agents representing the Insurance Companies (i) are appointed in compliance with all applicable Law and (ii) comply with all applicable Law.
(b) Section 3.18(b)(i) of the Seller Disclosure Schedule sets forth the standard form of agreement between the Insurance Companies and their Insurance Agents in existence on the date hereof. Section 3.18(b)(ii) of the Seller Disclosure Schedule sets forth a true and correct list of the fees (expressed as a percentage of premium) paid to each of the Insurance Agents for each line of business. There are no side agreements or other agreements (whether oral or written) between any of the Companies and their Insurance Agents which require the payment of compensation with respect to the production of Crop Hail Policies or FCIC Policies in excess of the amounts payable as set forth in Section 3.18(b)(ii) of the Seller Disclosure Schedule.
Insurance Agents. 12 3.18 Title to Assets; Material Contracts...................12 3.19
Insurance Agents. (a) Schedule 5.12(a) sets forth a list of each insurance agent or group of related agents who accounted for more than one percent of the gross statutory premium income of the Insurance Companies, taken as a whole, for the sixth month period ended June 30, 2006.
(b) Schedule 5.12(b) lists the standard forms of agreement between the Company or the Acquired Company Subsidiaries and their agents, managers or brokers in existence on the date hereof. Except as set forth on Schedule 5.12(b), there are no side agreements or other agreements (whether oral or written) between the Company or the Insurance Companies and their agents, managers or brokers which require the payment of compensation in excess of the amounts payable under the Contracts set forth on Schedule 5.12(b). Expect as set forth in Schedule 5.12(b), no such agent has binding authority on behalf of any Insurance Company.
(c) The Company has provided to Buyer true, complete and correct copies of the Company's and Insurance Companies' written procedures designed to provide assurance that agents comply with Applicable Laws. To the Knowledge of the Company, (i) each insurance agent at the time such agent wrote, sold, produced or managed business for any Insurance Company, was duly licensed (for the type of business written, sold, produced or managed by such agent) in the particular jurisdiction in which such agent wrote, sold, produced or managed such business for such Insurance Company; (ii) all compensation paid to each such agent was paid in accordance with Applicable Law and Permits; and (iii) no such agent violated (or with or without notice or lapse of time or both would have violated) any term or provision of any Applicable Law or order applicable to any aspect (including, but not limited to, the marketing, writing, sale, production or management) of the business of such Insurance Company.
Insurance Agents. Phoenix Mutual and the VA Account will permit selected agents of a broker-dealer firm which have entered into a Selling Agreement with the Underwriter to be licensed and appointed as life insurance agents of Phoenix Mutual. Phoenix Mutual shall pay all fees to regulatory authorities associated with the appointment of such selected agents as insurance agents of Phoenix Mutual.