MANAGEMENT OF CLAIMS AND LOSSES. The Company shall investigate and settle or defend all claims and losses. All payments of claims or losses by the Company within the terms and limits of the appropriate coverage parts of Covered Policies shall be binding on the SBA, subject to the terms of this Contract, including the provisions in Article XIII relating to inspection of records and examinations.
MANAGEMENT OF CLAIMS AND LOSSES. The Company shall investigate and settle or defend all claims and losses. When requested by the Reinsurer, the Company shall permit the Reinsurer, at the expense of the Reinsurer, to be associated with the Company in the defense or control of any claim, loss, or legal proceeding which involves or is likely to involve the Reinsurer. All payments of claims or losses by the Company within the terms and limits of its policies which are within the limits set forth in the applicable Exhibit shall be binding on the Reinsurer, subject to the terms of this Agreement.
MANAGEMENT OF CLAIMS AND LOSSES. Company will investigate and settle or defend all claims and losses. When requested by Reinsurer, Company will permit Reinsurer, at Reinsurer’s expense, to be associated with Company in the settlement, defense, or control of any claim, loss, or legal proceeding. All payments of claims or losses, including ex gratia payments, shall be unconditionally binding on Reinsurer.
MANAGEMENT OF CLAIMS AND LOSSES. When requested by the Retrocessionaire, the Reinsurer shall permit the Retrocessionaire, at the expense of the Retrocessionaire, to be associated with the Reinsurer in the defense or control of any claim, loss, or legal proceeding which involves or is likely to involve the Retrocessionaire. All payments of claims or losses by the Reinsurer within the terms and limits of the Original Contract shall be binding on the Retrocessionaire, subject to the terms of this Agreement.
MANAGEMENT OF CLAIMS AND LOSSES. The Company shall investigate and settle or defend all claims and losses. When requested by the Reinsurer, the Company shall permit the Reinsurer, at the expense of the Reinsurer, to be associated with the Company in the defense or control of any claim, loss, or legal proceeding which involves or is likely to involve the Reinsurer. All payments of claims or losses by the Company within the terms and limits of its policies which are within the limits set forth herein shall be binding on the Reinsurer, subject to the terms of this Agreement. However, the Company shall obtain the Reinsurer's prior approval with respect to (i) any one settlement in excess of $10,000,000 and (ii) every settlement in excess of $3,000,000, once the aggregate of all settlements in excess of $10,000,000 made after the Closing Date reaches $40,000,000. In determining whether the Reinsurer's prior approval is required hereunder, settlements are calculated net of any other reinsurance, deductibles, or self-insured retentions (all three preceding items, whether collectible or not). If the Company permanently waives all of its Layer Two recoveries from the Reinsurer in writing then no such prior approval of settlements is required.
MANAGEMENT OF CLAIMS AND LOSSES. The RAP Insurer shall investigate and settle or defend all claims and Losses. All payments of claims or Losses by the RAP Insurer within the terms and limits of the appropriate coverage parts of Covered Policies shall be binding on the SBA, subject to the terms of this Contract, including the provisions in Article XII relating to inspection of records and examinations.
MANAGEMENT OF CLAIMS AND LOSSES. A. The COMPANY shall investigate and conduct diligently the defense and settlement of all claims and losses arising under its policies with respect to which this AGREEMENT applies. The COMPANY shall have original and primary responsibility for all claim settlements.
MANAGEMENT OF CLAIMS AND LOSSES. Reinsurer has exclusive responsibility for all claims and losses related to the Subject Business and the Policies. Reinsure will investigate and settle or defend all such claims and losses at its sole expense. When requested by Company, Reinsurer will permit Company to review any of these claim files. Company has no right to participate in or be associated with Reinsurer in the handling of these claims. All payments of claims or losses, including ex gratia payments, made in accordance with sound and generally accepted industry practice shall be made by Reinsurer and shall be unconditionally binding on Company.
MANAGEMENT OF CLAIMS AND LOSSES. The Company shall investigate and settle or defend all claims and losses. When requested by the Reinsurer, the Company shall permit the
MANAGEMENT OF CLAIMS AND LOSSES. A. The Company, or the Third Party Administrator on behalf of the Company, shall investigate and conduct diligently the defense and settlement of all claims and losses arising under its policies with respect to which this Agreement applies. The Company shall have original and primary responsibility for all claim settlements.
