OWNERSHIP OF EXPIRATIONS. The use and control of expirations will remain the property of Manager; and Company will not, without consent of Manager, (a) refer or communicate to any other agent or broker, Company’s records of insureds, expiration dates and other material information relating to specific risks except for loss or claims information specifically requested by the insured or the insured’s authorized representative nor (b) use such material information relating to specific risks for purposes of solicitation.
OWNERSHIP OF EXPIRATIONS. A. The use and control of expirations, including those on direct billed business, the records thereof, and the Agent’s work product, shall remain in the undisputed possession and ownership of the Agent, and the Company shall not use its records of those expirations in any marketing method for the sale, service, or renewal of any form of insurance coverage, or other product which shall abridge the Agent’s right of ownership, use, and control, nor shall the company refer or communicate this expiration information or work product to any other agent or broker; provided, however, that to ensure timely service to policyholders following terminations due to abandonment, neglect or similar circumstances, if the Agent does not notify the Company within thirty (30) days of termination of this Agreement of the Agent’s intent to exercise possession of and control over the expirations, the Company may in its sole discretion renew or nonrenew policies without obligation to the Agent therefore and make such arrangements as the Company is its sole discretion considers appropriate for the future servicing of the policies. During the thirty (30) day notice period (or until such earlier time as the Agent provides the notice contemplated by this provision), the Company may renew or nonrenew such of the policies as it considers appropriate in its sole discretion.
B. In the event of termination of this agreement, if the Agent has not then properly accounted for and paid all premiums to the company for which the Agent is liable, the use and control of such expirations including all right, title, and interest in and to the records thereof shall be vested in the Company as of the date of such termination. In the exercise of its right to collect any indebtedness due from the Agent through use and control of such expirations, the Company shall use reasonable business judgment in selling such expirations and shall be accountable to the Agent for any sums received which, net of expenses, exceed the amount of indebtedness. The Agent shall remain liable for the excess of the indebtedness over the sums received by the Company. Any indebtedness due from the Agent shall not prevent application of the ownership of expirations clause in favor of the Agent if the Agent furnishes collateral security acceptable to the Company in the amount of such indebtedness to be held by the Company until the indebtedness is satisfied. A difference of opinion with respect to balances owed by the Agent does n...
OWNERSHIP OF EXPIRATIONS. In the event of termination of this Agreement and provided Producer has accounted for and paid to CRC all premiums and other monies due in accordance with the terms of this Agreement, the use and control of expirations on business written under this Agreement shall remain the property of the Producer. If a proper accounting and payment has not been made, the ownership of the records and the ownership of the right of use and control of the expirations shall vest in CRC. DIRECT COLLECTION If, after the expiration of sixty (60) days from the date liability was assumed by the insurance carrier, CRC has not received payment due for the applicable coverage, CRC may, at its option, collect from the Insured the premium due. In the event CRC collects the premium or any part thereof from the Insured, Producer shall not be entitled to any commission on the premium so collected. Attempts by CRC to collect from the Insured shall not relieve Producer of liability to CRC except to the extent of amounts actually collected by CRC from the Insured, less the expense of such collection.
OWNERSHIP OF EXPIRATIONS. 8.01 During the term of this Agreement and upon termination pursuant to Section 9.01, the Producer’s Records, together with the use, control, and ownership of expirations applicable to any insurance placed or arranged by or through Provider (the “Expiration”) will remain the Producer’s property. If upon termination of this Agreement, there are undisputed amounts owed to Xxxx by Producer, then Xxxx or the applicable Provider may provide written notice to Producer of such amount owed. If any such amounts are not remitted to Xxxx or the applicable Provider within thirty (30) days’ following provision of such notice, then the use and control of the Expirations shall vest in Xxxx to the extent necessary for Xxxx to recover such undisputed amounts owed.
OWNERSHIP OF EXPIRATIONS. Following the termination of this AGREEMENT, the AGENCY or AGENT having promptly accounted for and paid over to MGA premiums and other sums for which AGENCY or AGENT is liable, the records, use and control of expirations, shall remain the property of AGENCY or AGENT and be left in the undisputed possession of AGENCY or the AGENT. "
OWNERSHIP OF EXPIRATIONS. 8.01 The Producer’s records, together with the use, control, and ownership of expirations applicable to any insurance placed or arranged by or through Provider will remain the Producer’s property, and such records and expirations will remain the property of the Producer even if there is a good faith dispute between the Producer and the Provider with respect to the accounting and/or payment of premiums, taxes if applicable, and other amounts due and owing.
OWNERSHIP OF EXPIRATIONS. In the event of termination of this Agreement and provided Producer has accounted for and paid to Company all premiums and other monies due in accordance with the terms of this Agreement, the use and control of expirations on business written under this Agreement shall remain the property of the Producer. If a proper accounting and payment has not been made, Producer’s license(s) to produce the business hereunder has been suspended or terminated, or there has been an indemnity claim or material breach of this Agreement resulting in uncovered liability to the Company, the ownership of the records and the ownership of the right of use and control of the expirations shall vest in Company. Notwithstanding the foregoing, each party acknowledges that the Insured has the ultimate ownership of their expirations and authority to decide who provides insurance services to them as their registered insurance Agent. In the unlikely event Producer abandonees or fails to service the business produced hereunder, or the Insured initiates direct contact with the Company expressing dissatisfaction with Producer and/or makes an unsolicited clear request for Company to be their Agent of Record then in such event the Company shall take control of the account and expiration.
OWNERSHIP OF EXPIRATIONS. In the event this Agreement is terminated and the Broker has paid to the Company all premiums due before the effective date of termination, the Broker’s expirations, records, files, related information and the use and control of the expirations shall remain the property of the Broker and be left in its undisputed possession. If such premium has not been fully accounted for and paid by the Broker to the Company prior to the effective date of termination, then the records, expirations, files, related information and use and control thereof shall be owned and controlled by the Company.
OWNERSHIP OF EXPIRATIONS. 10.1 So long as this business under this Agreement is not abandoned pursuant to Section XI of this Agreement, the records of insureds and Policies and their use and control for the solicitation of business written or bound by or through the PA (“expirations”), as between the PA and the Company shall be the sole and exclusive property of the PA.
10.2 The Policies, underwriting files, claim files and accounting records reflecting the business of the Program are the joint property of the Company and the PA. Although these materials shall be maintained by the PA as provided for in this Agreement, the Company shall at all times maintain its right to review or copy, at its own expense, all such files for its own purposes. However, upon a final judicial order of liquidation of the Company, such files shall become the sole property of the Company or its estate. The PA shall have reasonable access to and the right to copy the claim files on a timely basis.
OWNERSHIP OF EXPIRATIONS. The use and control of expirations, and the records thereof, shall remain in the undisputed possession and ownership of the Broker, except as provided under Section 2 hereof.
