Loss Settlements. A. The Company alone and at its full discretion shall adjust, settle or compromise all claims and losses. B. As respects losses subject to this Contract, all loss settlements made by the Company, whether under strict Policy terms or by way of compromise, and any Extra Contractual Obligations and/or Loss in Excess of Policy Limits, shall be binding upon the Reinsurer, and the Reinsurer agrees to pay or allow, as the case may be, its share of each such settlement in accordance with this Contract.
Appears in 16 contracts
Samples: Whole Account Quota Share Reinsurance Contract (Lemonade, Inc.), Whole Account Quota Share Reinsurance Contract (Lemonade, Inc.), Personal Automobile Quota Share Reinsurance Contract (Lemonade, Inc.)
Loss Settlements. A. The Company alone and at its full discretion shall adjust, settle or compromise all claims and losses.
B. As respects losses subject to this Contract, all loss settlements made by the Company, whether under strict Policy terms or by way of compromise, and any Extra Contractual Obligations and/or Loss in Excess of Policy Limits, shall be binding upon the Reinsurer, and the Reinsurer agrees to pay or allow, as the case may be, its share of each such settlement in accordance with this Contract.
Appears in 2 contracts
Samples: Automobile Quota Share Reinsurance Contract (Affirmative Insurance Holdings Inc), Automobile Quota Share Reinsurance Contract (Affirmative Insurance Holdings Inc)
