NOTICE OF LOSS AND LOSS SETTLEMENTS Sample Clauses

NOTICE OF LOSS AND LOSS SETTLEMENTS. A. The Company shall advise the Reinsurer promptly of all losses that, in the opinion of the Company, may result in a claim hereunder and of all subsequent developments thereto that may materially affect the position of the Reinsurer. B. The Company alone and at its full discretion shall adjust, settle or compromise all claims and losses. C. As respects losses subject to the Original Contract, all loss settlements made by the Company, whether under strict Policy terms or by way of compromise, 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 immediately upon receipt of reasonable evidence of the amount paid by the Company or that the Company estimates it will pay within the next 14 days. Within 30 days after receipt of the Reinsurer’s payment, the Company shall report to the Reinsurer the positive difference, if any, of the Reinsurer’s payment, minus the Reinsurer’s share of losses subject to this Contract that the Company has paid, or becomes liable to pay, as of the date of the report. Any such positive difference shall be remitted to the Reinsurer with the Company’s report.

NOTICE OF LOSS AND LOSS SETTLEMENTS. The Retrocedant shall advise the Retrocessionaire promptly of any Loss Occurrence which, in the opinion of the Retrocedant may result in a claim hereunder and of all subsequent developments thereto which, in the opinion of the Retrocedant may materially affect the position of the Retrocessionaire. All loss settlements made by the Retrocedant, provided they are within the terms of this Agreement, shall be unconditionally binding upon the Retrocessionaire who agrees to pay all amounts for which it may be liable immediately upon being furnished by the Retrocedant with reasonable evidence of the amount due or to be due. In addition, the Retrocessionaire agrees to abide by court and/or arbitration decisions affecting the Retrocedant’s Original Reinsurance Contracts.

NOTICE OF LOSS AND LOSS SETTLEMENTS. The Company will advise Reinsurers promptly of all claims or occurrences which, in the opinion of the Company, may involve Reinsurers and of all subsequent developments on these claims which may materially affect the position of Reinsurers. Upon receipt by Reinsurers of satisfactory proof of evidence of payment of loss by the Company, Reinsurers shall promptly pay to the Company the amount of loss due under the terms of this Agreement. Reinsurers agree to abide by the loss settlements of the Company, provided that they are within the terms and conditions of the original policies (other than as provided for in the Extra Contractual Obligations and Loss in Excess of Original Policy Limits definitions) and within the terms of this Agreement.

NOTICE OF LOSS AND LOSS SETTLEMENTS. Reinsurers agree to abide by all loss settlements of the Reassured which at its sole discretion shall adjust, settle or compromise all losses and all such adjustments, settlements or compromises shall be binding upon Reinsurers subject to the terms, conditions and limitations of the original policies and this Contract.

NOTICE OF LOSS AND LOSS SETTLEMENTS. The Company shall notify the Reinsurer of all reinstatement premium settlements made by the Company under the Original Agreement. The Company will advise the Reinsurer of all subsequent developments relating to such claims that, in the opinion of the Company, may materially affect the position of the Reinsurer. All reinstatement premium settlements made by the Company under the Original Agreement, provided they are within the terms of the Original Agreement and within the terms of this Agreement, shall be binding upon the Reinsurer, and the Reinsurer agrees to pay all amounts for which it may be liable as promptly as possible upon receipt of reasonable evidence of the amount paid (or scheduled to be paid) by the Company.

NOTICE OF LOSS AND LOSS SETTLEMENTS. The Reinsurers agree to abide by all loss settlements of the Reassured which at its sole discretion shall adjust, settle or compromise all losses and all such adjustments, settlements or compromises shall be binding upon Reinsurers subject to the terms, conditions and limitations of the original policies and this Contract. The Reassured shall provide individual loss reports to the Reinsurers of all claims reserved at or above USD5,000,000, and in the event of loss settlements by the Reassured, the Reinsurers agree to settle to the Reassured their proportion of such loss settlements immediately upon receipt of satisfactory proof of loss. Where the Reassured's original policies and/or specific coverage parts of their original policies provide for loss adjustment expenses in addition to limit, all loss adjustment expenses paid by the Reassured shall be apportioned in proportion to the respective interests in the loss of the parties hereto as such interests finally appear and shall be in addition to their share of the loss recoverable hereunder. In the event a verdict or judgment is reduced by an appeal or a settlement, subsequent to the entry of the judgment, resulting in an ultimate saving on such verdict or judgment, or a judgment is reversed outright, the expense incurred in securing such final reduction or reversal shall be pro-rated between the Reinsurers and the Reassured in the proportion that each benefits from such reduction or reversal; and the expenses incurred up to the time and date of the original verdict or judgment shall be pro-rated in proportion to each party's interest in such verdict or judgment. Notwithstanding the foregoing, in the event that the Reassured's original policies and/or specific coverage parts of their original policies are issued with loss adjustment expenses included within the original policy limit, such loss adjustment expenses shall be included as Loss for the purposes of recovery hereunder. In the event of external legal or external adjustment expenses, including outside monitoring counsel expenses, which are incurred by the Reassured in connection with a claim or potential claim hereunder and which are not the subject of the Reassured's original policy, then Reinsurers shall also be liable for their proportion of such expenses in addition to their share of the loss recoverable hereunder. The Reinsurers shall also accept additional liability, solely on cessions made hereunder, for legal expenses incurred in respect of ...

NOTICE OF LOSS AND LOSS SETTLEMENTS. A. As soon as practicable, the Company shall advise the Reinsurer of all bodily injury claims or losses involving any of the following: 1. Any claim or loss reserved at 50.0% or more of the Company’s retention under this Contract. 2. Any claim involving any of the following injuries where the Company’s incurred loss is greater than or equal to $500,000:

NOTICE OF LOSS AND LOSS SETTLEMENTS. 9 ARTICLE 15

NOTICE OF LOSS AND LOSS SETTLEMENTS. A. In the event of a claim arising hereunder which either results in or appears to be of serious enough nature as probably to result in a loss involving this Agreement, the Company shall give notice as soon as reasonably practicable to Reinsurers and the Company shall keep the Reinsurer advised of all subsequent developments in connection therewith. B. The Company shall also promptly notify the Reinsurers of all incidents involving the following injuries for which the Company has established an indemnity reserve of $5,000,000 or greater and with policy limits to affect Reinsurers:

NOTICE OF LOSS AND LOSS SETTLEMENTS. All loss settlements made by the Company that are within the terms and conditions of this Contract (including but not limited to ex gratia payments) shall be binding upon the Reinsurer, and the Reinsurer agrees to pay all amounts for which it may be liable upon receipt of satisfactory evidence of the amount paid by the Company. Upon receipt of the Summary Report as described below in the REPORTS AND REMITTANCES ARTICLE, the Reinsurer agrees to promptly pay or allow, as the case may be, its share of each such settlement in accordance with this Contract.