Policy Administration. The Company shall provide all required, necessary and appropriate claims, administrative and other services with respect to the Policies. The Company shall use reasonable care in its administration and claims practices with respect to the Policies and in administering and performing its duties under this Agreement and such practices, administration and performance shall (a) conform with Applicable Law; (b) not be fraudulent; and (c) be no less favorable than those used by the Company with respect to other policies of the Company not reinsured by the Reinsurer.
Policy Administration. The Cedent shall administer the Policies and shall perform all accounting for such Policies. Claim settlements made by the Cedent in good faith, including compromises, shall be unconditionally binding on the Reinsurer.
Policy Administration. To the extent that such transfers have not already taken place pursuant to the terms and conditions of the Coinsurance Agreement, the Company agrees to cooperate fully with the Reinsurer in the transfer of all books, records, papers or any other documents relating to such Novated Polices.
Policy Administration. Prepare, in accordance with Section 5, and deliver and maintain contracts and policies. Obtain clients' acceptance of contracts and policies. Maintain originals of all contracts and policies. Provide customer service in relation to all contracts and policies. Prepare and issue reports required by state and federal law.
Policy Administration. The Broker must aide in the fulfillment of all obligations to the Department and its Named Insureds as provided for under the policy that results from this ITB, hereby incorporated by reference. The Broker will, at a minimum: communicate with the Insurer on all changes to the policy requested by the Department; provide endorsements for changes to the policy schedule; forward premium payments to the Insurer, as appropriate; and assist in the filing of claims and claim settlement refunds. Any failure by the Broker to provide policy administration to the Department will constitute a breach of contract.
Policy Administration. The Ceding Company shall provide all required, necessary and appropriate claims, administrative and other services, including reporting under Article VII, with respect to the Reinsured Policies and the Accounts. The Ceding Company shall conduct its administration and claims practices with respect to the Reinsured Policies (a) with a level of skill, diligence and expertise that would reasonably be expected from experienced and qualified personnel performing such duties in similar circumstances, (b) in accordance with applicable Law and the terms of the Reinsured Policies, and (c) in a manner no less favorable to the Reinsurer and the Reinsured Policies than those used by the Ceding Company with respect to other policies of the Ceding Company not reinsured by the Reinsurer hereunder or other xxxxxx of the Ceding Company. The Ceding Company shall not outsource any administrative functions or claims administration to a non-affiliate with respect to the Reinsured Policies or this Agreement without the prior written consent of the Reinsurer, such consent not to be unreasonably withheld. If the Reinsurer consents to any outsourcing of any administrative functions or claims administration with respect to the Reinsured Policies or this Agreement, the Ceding Company shall secure the Reinsurer’s right to audit and inspect the party performing such outsourced services.
Policy Administration. IMS shall administer Customer's WYO Flood Program policies ("WYO Policies") performing the services listed hereunder in accordance with the NFIP, as amended, and all implementing regulations as well as Customer's Write Your-Own Arrangement ("Arrangement") with FEMA. The same standards by which Customer is bound shall be those by which IMS is bound to Customer.
Policy Administration. 1 The policyholder undertakes that he/she will advise all eligible employees immediately if any reason this agreement should not be renewed or this agreement should be terminated in accordance with the provision of Article 23 above so that such eligible employees are made aware that all cover has ceased and that benefits will not be payable in respect of eligible employees or family members 2 As the purpose of the agreement is to provide cover for eligible employees and dependants, the policyholder undertakes to ensure that any revised policy wording or benefit schedule sent by the insurer to the policyholder, or any notice sent by the insurer to the policyholder relating to the cover, are issued without delay to all eligible employees 3 The policyholder shall notify group members of any change in the terms and conditions of this group policy and any endorsements The policyholder shall also notify group members of the changes in the terms and conditions of this group policy with those of any previously held policy 4 The policyholder hereby indemnifies the insurer from and against any and all costs, losses and expenses incurred by the insurer consequent upon any failure by the policyholder to discharge its obligations under this agreement 5 The policyholder shall designate a responsible person (the policy administrator) to administer this agreement in accordance with its terms and any guidance issued by the insurer from time to time and shall notify the insurer in writing, of any change in the person designated 6 The policyholder shall remain responsible for ensuring its obligations under this agreement are fully discharged notwithstanding that all or any part of those obligations are delegated to an intermediary or agent who shall be deemed to be the agent of the company 7 The policyholder shall advise the insurer immediately if it goes into liquidation or becomes bankrupt, or if an administrator or receiver or an administrative receiver is appointed in respect of all or any part of the business or assets of the company 8 The policyholder must write and inform the insurer if the insured person changes their address or occupation 9 When expense occurred for the medical condition caused by another party who is liable for the incident, and the insurer paid the claim for such expense to the insured person, thereafter the insurer exercise the subrogation right to claim against the other party for remuneration of the amount paid, and the insured person shall pro...
Policy Administration. For all policies that Vendor serves as Agent of Record, Vendor shall assist with all billing, invoicing, policy endorsements, and claims filing. Within three (3) business days of Citizens’ request, Vendor shall provide Citizens with a written schedule detailing all of Citizens’ policies in force, the corresponding coverage amounts, deductibles, premiums paid, and claims incurred, (“Schedule of Policies in Effect”). Within three (3) business days of Citizens’ request, Vendor shall provide a detailed report of all losses incurred by Citizens by policy type, (a “Loss Run Report”). Vendor shall assist with initiating and filing a claim with all appropriate insurers promptly after such loss is reported to Vendor by Citizens. Vendor shall use its best efforts to assist Citizens’ Contract Manager to fully investigate the claim and to develop documentation of the cost impact of the claim. As requested by Citizens’ Contract Manager, Vendor shall continue to assist in the presentation to, investigation by, and settlement of the claim with any insurers.
Policy Administration. Section 7.01. From and after the Closing Date, except as otherwise provided in Sections 7.3 and 7.4, Cedant shall retain the responsibility to provide the Administrative Services with respect to the Reinsured Policies and Cedant agrees to provide the Administrative Services in accordance with the terms and conditions set forth herein. As long as Cedant is obligated to provide the Administrative Services, Reinsurer shall pay Cedant on an annual basis an administrative fee for each Reinsured Policy which is in force during each calendar year (the “Administrative Fee”) which equals (i) multiplied by (ii) where (i) is $25 and (ii) is the percentage of Reinsurer’s quota share reinsurance. Reinsurer shall pay the Administrative Fee to Cedant within thirty (30) days following the end of each calendar quarter. The Administrative Fee shall be adjusted on a pro rata basis for any mid-year cancellations, nonrenewals or terminations or in the event that Cedant’s obligation to provide the Administrative Services is terminated during the year pursuant to Section 7.5 herein.
Section 7.02. Cedant agrees to perform the Administrative Services with a level of skill, diligence, care and expertise that is consistent with industry standards for an administrator of the type of policies coinsured hereunder and shall also comply in all material respects with all Applicable Laws and the terms of the Reinsured Policies. Cedant hereby covenants that it will employ and retain staff with the experience, skill and expertise to perform the Administrative Services in a manner consistent with the standards set forth herein.
Section 7.03. Notwithstanding anything contained herein to the contrary, Cedant shall retain liability and administrative responsibility for all Retained Liabilities.
Section 7.04. Notwithstanding anything contained herein to the contrary, Cedant shall set or change Non-Guaranteed Elements of the Policies after the Closing Date only pursuant to written instructions of Reinsurer.
Section 7.05. Cedant shall provide the Administrative Services for the Initial Term. At any time during or after the end of the Initial Term, but no sooner than June 30, 2000, Cedant’s obligation to provide the Administrative Services (except with respect to Retained Liabilities for which Cedant shall be responsible indefinitely and perpetually notwithstanding anything to the contrary contained in this Agreement), shall terminate (i) upon thirty (30) days prior written notice from Reinsurer, (i...
