Limitations of Authority and Responsibility. Producer has authority, pursuant to the terms of this Agreement, to submit requests and/or applications for Orchid’s consideration, for the purpose of placement and procurement of insurance coverage with Orchid represented Insurers, for risks located in states in which Producer is duly licensed and authorized to operate. Producer acknowledges and agrees that Xxxxxx, in its sole discretion, has the authority to accept, cancel, reject, non-renew, or modify applications, policies, or renewal policies; submit to an Insurer for acceptance any applications of insurance for risks submitted by Producer; and shall incur no liability for failure to place any such risk. Nothing in this Agreement shall place Orchid under any obligation to accept any proposal or new business submission or the renewal of existing business put to it by Producer.
